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

Possible causes of involuntary unemployment are

Question # 2

If the government increase spending and raises taxes by just enough to finance the increase it will.

Question # 3

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

Question # 4

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

Question # 5

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 # 6

The value of an asset depends upon

Question # 7

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 8

Market failure may arise because of.

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

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

Question # 11

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 12

The most important source of wage differentiate are.

Question # 13

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 # 14

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

Question # 15

The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.

Question # 16

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

Question # 17

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

Question # 18

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 19

When a market is contestable , incumbent firms must.________ to avoid the entry of new competitors.

Question # 20

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

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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 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
2 In the UK under a _________ of the labour force belong to a trade union.
A. Quarter
B. Third
C. Half
D. Three quarters
3 The multiplier accelerator model assumes _______ depends on.
A. Consumption, expected future profits.
B. Investment, interest rates.
C. Investment expected future profits.
D. Stock building, interest rates.
4 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
5 The level of the equilibrium exchange rate offsets international difference in.
A. Comparative advantage
B. Absolute advantage
C. Opportunity cost
D. Relative costs
6 A monopoly may be self perpetuating because profits may be used for
A. research
B. Cost saving
C. Technical advance
D. All of the above
7 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market
8 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
9 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
10 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left

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