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

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 2

A current account deficit means that a country may.

Question # 3

A tariff causes domestic firms to __________ and consumers to

Question # 4

The long run Philips curve is _________ at the ______

Question # 5

The costs of inflation are

Question # 6

An optimal tariff is one which reduces imports to the level at which ___ equals

Question # 7

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 8

When real income increases, other things equal we fan expect the demand for real money holdings to.

Question # 9

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

Question # 10

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 11

Under floating exchange rates, expectations of higher interest rates are likely to cause an __________ of the exchange rate.

Question # 12

a demand curve can shift because of changing.

Question # 13

International specialization takes place because of.

Question # 14

Macro economics is the study of.

Question # 15

International difference in opportunity costs lead to countries acquiring.

Question # 16

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

Question # 17

A production technique is technically efficient if.

Question # 18

In the circular flow we would expect leakages to __________ injections.

Question # 19

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 20

Injection into the circular flow are _________ and _______

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Economics
11th Chapter

PPSC Economics Chapter 11 Test

Here you can prepare PPSC Economics Chapter 11 (Assess Your Basics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 11 Important MCQ's

Sr.# Question Answer
1 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
2 M4 is a _________ measures of money and includes deposits at both _____________ and
A. Narrow, banks, building societies
B. Wide, banks, insurance companies
C. narrow, banks, insurance companies
D. Wide, banks, building societies.
3 The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.
A. Saving investment
B. Capital per person productivity
C. Labour growth , output
D. Investment capital per person
4 The business cycle is not transmitted from one country to another through.
A. Private sector imports and exports
B. Economic policy
C. The duration of compulsory education
D. Labour supply changes
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 With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.
A. Increased
B. Unaffected
C. Reduced
D. All of the above
7 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
8 During periods of rising inflation and rising interest rates we expect the demand for real cash to.
A. rise
B. fall
C. not change
D. fluctuate
9 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
10 For given government spending and taxation the government budget deficit will grow in __________ and decline in _________
A. booms, booms
B. recession, recession
C. booms, recessions
D. recessions, booms

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