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

00:00
Question # 1

A firm that breaks even after all economic costs are paid is earning.

Question # 2

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

Question # 3

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

Question # 4

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

Question # 5

The participation rate in the labour force is affected by

Question # 6

Macro economics is the study of.

Question # 7

The level of the equilibrium exchange rate offsets international difference in.

Question # 8

Real GNP is a crude measure of national welfare because it excludes.

Question # 9

If the consumption of a good by one person does not reduce the quantity available by other and nobody cna be easily excluded from consumption, we are referring to a.

Question # 10

Injection into the circular flow are _________ and _______

Question # 11

Top footballers land to earn more than lecturers because.

Question # 12

Nominal GNP measures income

Question # 13

In linear consumption function with a positive slope less that on means that if income increase, consumption will.

Question # 14

Marginal revenue is the ________ when output is.

Question # 15

When capital mobility is perfect, interest rate differentials will tend to be offset by

Question # 16

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

Question # 17

By restricting labour supply a trade union can _________ and_______

Question # 18

The primary function of a bank is to.

Question # 19

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

Question # 20

International specialization takes place because of.

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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 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above
2 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
3 When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.
A. Behave like competitive firms
B. Agree to act together
C. Differentiate their products
D. Practice price discrimination
4 In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.
A. 3>2>1
B. 3 +2>1
C. 3<2<1
D. Any measure can be larger or smaller than any other
5 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
6 The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____
A. capital widening, technical innovation
B. Capital widening, catch up in technology
C. Capital deepening, technical innovation
D. Capital deepening, catch up technology.
7 The increase in total cost when one more units is produced is known as.
A. Marginal cost
B. Opportunity cost
C. Limited cost
D. Average cost
8 Real GNP measures income
A. Including non market activities
B. Adjusted for inflation
C. Including externalities
D. Including tax evasion
9 The impossibility of negative gross investment provides a______ to fluctuations in.
A. Celling, stock building
B. Celling, capital prices
C. floor , output
D. floor , the capital output ratio
10 Macro economics is the study of.
A. Individual building blocks in the economy
B. The relationship between different sectors of the economy
C. Household purchased decisions
D. The economy as a whole

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