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

The primary function of a bank is to.

Question # 2

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

Question # 3

The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.

Question # 4

The price elasticity of demand measures

Question # 5

Efficiency wages are_______ that raise

Question # 6

In an open economy leakages to imports ______ the value of the multiplier.

Question # 7

An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.

Question # 8

Skilled labour is relatively scarce because.

Question # 9

In a competitive industry each buyer and seller.

Question # 10

Injection into the circular flow are _________ and _______

Question # 11

GDP per head may be an imperfect measure of economic welfare because it excludes.

Question # 12

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Question # 13

When we refer to the hidden economy we mean unrecorded income owing to.

Question # 14

a demand curve can shift because of changing.

Question # 15

The prisoners Dilemma Game demonstrates that.

Question # 16

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

Question # 17

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 # 18

A competitive equilibrium is Pareto efficient because.

Question # 19

In the UK under a _________ of the labour force belong to a trade union.

Question # 20

The single European Act committed_ governments to a ___ in 1992

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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 The main cause of different relative costs between countries are.
A. Relative factors competition
B. Relative factor mobility
C. Relative factor substitution
D. Relative factor endowments
2 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
3 A profit maximizing firm will hire labor until _______ equal the
A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labour output ratio, capital output ratio
D. Marginal cost of labour, marginal revenue product
4 All of the following are types of imperfect competition except
A. Monopolistic competition
B. Oligopoly
C. Monopoly
D. Unfair competition
5 If a country has a burden of debt it cannot sustain it can.
A. Reschedule debt
B. Get a loan from an international organization
C. Default on the loan
D. Any of the above
6 The real value can be derived from a nominal value by
A. Adjusting changes over time
B. Adjusting for data collection errors
C. Adjusting for population changes
D. Adjusting for changes in prices
7 In linear consumption function with a positive slope less that on means that if income increase, consumption will.
A. Fall
B. Not change
C. Fluctuate
D. Increase
8 A tariff causes domestic firms to __________ and consumers to
A. Overproduced, under consume
B. overproduce , overconsume
C. Underproduce, under consume
D. underproduce, overconsume
9 By restricting labour supply a trade union can _________ and_______
A. Increase the wage, increase employment
B. Maintain the wage, increase employment
C. Increase the wage lower employment
D. Maintain the wage, lower employment
10 If my neighbor burns garden waste causing my house to fil with smoke this is an example of.
A. A production extremality
B. A second best solution
C. Transaction costs
D. A consumption externality

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