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

Injection into the circular flow are _________ and _______

Question # 2

The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____

Question # 3

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

Question # 4

The price elasticity of demand measures

Question # 5

In a competitive industry each buyer and seller.

Question # 6

Top footballers land to earn more than lecturers because.

Question # 7

An upward shift in marginal cost ___________ output and an upward shift in _____ marginal revenue __ output.

Question # 8

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

Question # 9

Marginal revenue is the ________ when output is.

Question # 10

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

Question # 11

If I keep some money available in case I see a bargain this is an example of.

Question # 12

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

Question # 13

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 14

Short run average total costs are equal to the sum of _______ and______

Question # 15

Market failure may arise because of.

Question # 16

In the classical model, potential output can not be increased by

Question # 17

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 18

The impossibility of negative gross investment provides a______ to fluctuations in.

Question # 19

Government may contribute to inflationary pressure on account of building up large.

Question # 20

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

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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 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
2 We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.
A. Smaller
B. Larger
C. the same size
D. None of these
3 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
4 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
5 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
6 In the economy when a steel producer sells steel to car producer it is regarded as.
A. A final good
B. An intermediate good
C. an injection
D. a leakage
7 Extremality's arise because there is a divergence between ____ and _
A. Private costs, private benefits
B. Private costs, social costs of benefits
C. Social cost, social benefit
D. Insiders, outsiders
8 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
9 In the circular flow we would expect leakages to __________ injections.
A. equal
B. be less than
C. by greater than
D. Be less or greater than
10 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit

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