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

00:00
Question # 1

The increase in total cost when one more units is produced is known as.

Question # 2

A competitive equilibrium is Pareto efficient because.

Question # 3

Injection into the circular flow are _________ and _______

Question # 4

The single European Act committed_ governments to a ___ in 1992

Question # 5

Extremality's arise because there is a divergence between ____ and _

Question # 6

Efficiency wages are_______ that raise

Question # 7

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

Question # 8

Land will be allocated between competing uses so that.

Question # 9

A competitive firms demand curve is.

Question # 10

The opportunity cost of a good is.

Question # 11

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 12

The multiplier is calculated as.

Question # 13

a demand curve can shift because of changing.

Question # 14

International specialization takes place because of.

Question # 15

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 16

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

Question # 17

The extra utility from consuming one more unit of a good is called.

Question # 18

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

Question # 19

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

Question # 20

In the EMU a country's competitiveness can change because of.

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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 All of the following are type of monetary policy except
A. A nominal money stock target
B. A balances budget
C. An inflation target
D. The pursuit of a target real interest rate
2 In Nash equilibrium each player chooses the best strategy.
A. Assuming other players move first.
B. Dominated by the other players
C. Given the strategies of other players
D. That is a credible threat
3 Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreasing marginal product of the factor this is an example of.
A. Decreasing returns to scale
B. The law of diminishing returns
C. Constant returns to scale
D. an inefficient production technique
4 The equilibrium price clears the market it is the price at which.
A. Everything is sold
B. Buyers spend all their money
C. Excess demand is zero
D. c and d
5 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
6 If demand is _______ then price cuts will ________ spending.
A. Inelastic, increase
B. Elastic, increase
C. Elastic, decreases
D. None of the above
7 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
8 The extra utility from consuming one more unit of a good is called.
A. Marginal utility
B. Additional utility
C. surplus utility
D. Bonus utility
9 Real business cycle are cycles in
A. Potential output
B. Actual output
C. Real output
D. International trade
10 The long run Philips curve is _________ at the ______
A. Horizontal natural rate of inflation
B. Horizontal , natural rate of unemployment
C. Vertical , natural rte of inflation
D. Vertical , equilibrium rate of unemployment.

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