PPSC Economics Topic 11 MCQS Test Preparation

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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

The short run Philips curve can shift in response to changes in

Question # 2

The extra utility from consuming one more unit of a good is called.

Question # 3

Real GNP measures income

Question # 4

Micro economics is conceded with

Question # 5

A tariff causes domestic firms to __________ and consumers to

Question # 6

The cost of using capital services is the

Question # 7

Potential output can be increased by _________ or by_________

Question # 8

In Nash equilibrium each player chooses the best strategy.

Question # 9

Economics is the study of

Question # 10

The real value can be derived from a nominal value by

Question # 11

Real business cycle are cycles in

Question # 12

Higher export demand _______ output and a higher MPZ______ output..

Question # 13

The increase in total cost when one more units is produced is known as.

Question # 14

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 15

The costs of inflation are

Question # 16

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 17

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 18

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 19

Floating exchange rates are __ in the short run

Question # 20

When we refer to the hidden economy we mean unrecorded income owing to.

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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 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
2 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.
A. 30%
B. 10%
C. 70%
D. 40%
3 Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.
A. Depreciation
B. Appreciation
C. fall
D. Devaluation
4 A dominant strategy is.
A. A winning strategy
B. A losing strategy
C. A players best strategy when moving fist
D. a player's best strategy whatever the strategies adopted by rivals
5 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality
6 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
7 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
8 In the neoclassical theory of growth a higher saving rate leads to.
A. A higher growth rate
B. A fluctuating growth rate
C. A lower growth rate
D. No change in the growth rate
9 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
10 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce

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