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

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

Question # 2

In the neoclassical theory of growth a higher saving rate leads to.

Question # 3

Leakages from the circular flow are____ and _____

Question # 4

Nominal GNP measures income

Question # 5

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

Question # 6

The long run Philips curve is _________ at the ______

Question # 7

M4 is a _________ measures of money and includes deposits at both _____________ and

Question # 8

In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.

Question # 9

For given government spending and taxation the government budget deficit will grow in __________ and decline in _________

Question # 10

The multiplier tells us how much __________ chagnes after a shift in.

Question # 11

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

Question # 12

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

Question # 13

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

Question # 14

The key issues of macroeconomics are

Question # 15

A supply curve is directly affected by

Question # 16

The most important source of wage differentiate are.

Question # 17

Land will be allocated between competing uses so that.

Question # 18

The opportunity cost of a student is.

Question # 19

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

Question # 20

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

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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 If a long average cost rises, output rises from left to right this is an example of.
A. Increasing returns to scale
B. Decreasing returns to scale.
C. Constant returns to scale
D. the minimum efficient scale
2 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
3 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase
4 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
5 When real income increases, other things equal we fan expect the demand for real money holdings to.
A. Fall
B. Not change
C. Increase
D. Decrease
6 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
7 Monetarists believe that a reduction in _____ can be achieved by reducing.
A. Unemployment, prices
B. Inflation, wages
C. Unemployment, wages
D. Inflation, the quantity of nominal money
8 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
9 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above
10 If both Marginal cost and marginal revenue increase, a firm.
A. Should increase output
B. Should reduce output
C. Will require further information on how to respond
D. should not change output

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