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 Maastricht criteria for entry to the EMU are that applicants should have

Question # 2

Women and non whiles on average receive lower comes than white men because.

Question # 3

A natural monopoly has a declining ________ over a large range of output.

Question # 4

A competitive firm produces a level of output at which.

Question # 5

Floating exchange rates are __ in the short run

Question # 6

Real business cycle are cycles in

Question # 7

If the MPC is 0.5 the multiplier is

Question # 8

The firms long run output decision will be where.

Question # 9

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

Question # 10

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

Question # 11

All of the following represent obstacles to LDC development except.

Question # 12

In the UK in recent years, union membership has ______ and days of work lost because of strikes has.

Question # 13

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

Question # 14

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

Question # 15

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

Question # 16

The business cycle is not transmitted from one country to another through.

Question # 17

The cost of using capital services is the

Question # 18

Top footballers land to earn more than lecturers because.

Question # 19

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

Question # 20

Within circular flow of income, an increase in domestic income iwll lend to increase.

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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 as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
2 The AD schedule indicates that______ inflation is associated with______ output.
A. higher , lower
B. Higher , higher
C. Lower , lower
D. zero ,zero
3 The cost of using capital services is the
A. wage rate of capital
B. Interest charges
C. Marginal capital cost
D. Rental rate for capital
4 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
5 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
6 Economics is the study of
A. Production technology
B. Consumption decisions
C. How society decides what how and for whom to produce
D. The best way to run society
7 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
8 In a free market
A. Government intervene
B. Government plan production
C. Government interfere
D. Price adjust to reconcile scarcity and desires.
9 Market failure may arise because of.
A. Imperfect competition
B. Taxation
C. Externalities
D. All of the above
10 International difference in opportunity costs lead to countries acquiring.
A. Comparative advantage
B. High exchange rates
C. Trade exchange rates
D. Trade barriers

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