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

In the short run, the supply of capital is _______ and in the long run iwll depend on.

Question # 2

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

Question # 3

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

Question # 4

All of the following are parts of the business cycle except.

Question # 5

The effect of a tax to offset a negative eternality will be to ________ price and ____ quantity.

Question # 6

A current account deficit means that a country may.

Question # 7

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 8

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Question # 9

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

Question # 10

The allocation of resources is not efficient it

Question # 11

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

Question # 12

If I keep some money available in case I see a bargain this is an example of.

Question # 13

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.

Question # 14

Skilled labour is relatively scarce because.

Question # 15

The long run Philips curve is _________ at the ______

Question # 16

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

Question # 17

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

Question # 18

Real business cycle are cycles in

Question # 19

The firms long run output decision will be where.

Question # 20

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

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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 In the EMU a country's competitiveness can change because of.
A. Interest rate adjustment
B. Central bank intervention i the forex
C. Domestic wage and price adjustment
D. Devaluations
2 Nominal GNP measures income
A. At the present time
B. Corrected for tax changes
C. Corrected for changes in interest rates
D. At current prices
3 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
4 Except for taxes to offset ___ taxes are.
A. Imperfect competition , popular
B. Extremality's, distortionary
C. Inequality, a first best option
D. Poor health, unnecessary
5 The Philips curve shows the trade off between ________ and _____
A. The inflation rate, interest rates
B. The inflation rate, the unemployment rate
C. interest rates, output
D. Output, employment
6 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
7 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
8 Injection into the circular flow are _________ and _______
A. Consumption, investment, exports
B. Investment exports, transfer payments
C. Investment government expenditure, exports.
D. Taxes, exports, transfer payments.
9 If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by
A. 20%
B. 2%
C. 12%
D. 15%
10 When we know the quantity of a product that buyers wish to purchases at each possible price we know.
A. Demand
B. Supply
C. excess demand
D. Excess supply

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