PPSC Economics Topic 11 MCQS Test Preparation

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MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

Try The MCQ's Test For PPSC Economics Topic 11 Assess Your Basics

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PPSC Economics Topic 11 Assess Your Basics

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Question # 1

Land will be allocated between competing uses so that.

Question # 2

Injection into the circular flow are _________ and _______

Question # 3

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 4

Perfect price discrimination means that every customer.

Question # 5

Skilled labour is relatively scarce because.

Question # 6

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 7

The opportunity cost of a good is.

Question # 8

Within circular flow of income, an increase in domestic income iwll lend to increase.

Question # 9

For perfect competition ot work there must be

Question # 10

A competitive firms demand curve is.

Question # 11

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

Question # 12

Real GNP measures income

Question # 13

A profit maximizing firm will hire labor until _______ equal the

Question # 14

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 15

If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.

Question # 16

In the short run the level of floating exchange rates is determined mainly by.

Question # 17

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 18

Market some times fall to exist because of.

Question # 19

By restricting labour supply a trade union can _________ and_______

Question # 20

All of the following are types of imperfect competition except

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
2 Short run average total costs are equal to the sum of _______ and______
A. Short run opportunity costs, profit
B. Short run average variable costs, profit
C. short run average variable costs, profit.
D. Short run average variable costs short run average fixed costs
3 Normative economics form ______ based on.
A. Positive statements facts
B. Opinions, personal values
C. Positive statements values
D. Opinions facts
4 If a price increase of good A increases the quantity demanded of good B, then good B is a.
A. substitute good
B. Complementary good
C. Bargain
D. Interior good
5 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
6 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
7 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
8 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
9 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
10 Aggregate demand in an economy trading internationally with a government sector can be written s.
A. AD = C+1
B. AD = C + 1+ G
C. AD = C +1+G+X+Z
D. AD+C+1+G+X-Z

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