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

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

Question # 2

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

Question # 3

With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.

Question # 4

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

Question # 5

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

Question # 6

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

Question # 7

The cost of using capital services is the

Question # 8

Market failure may arise because of.

Question # 9

The long run Philips curve is _________ at the ______

Question # 10

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

Question # 11

If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.

Question # 12

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

Question # 13

All of the following are types of imperfect competition except

Question # 14

Market some times fall to exist because of.

Question # 15

If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.

Question # 16

Adding up the quantities demanded of a good by different people facing the same price gives us the.

Question # 17

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

Question # 18

Skilled labour is relatively scarce because.

Question # 19

Top footballers land to earn more than lecturers because.

Question # 20

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

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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 a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.
A. Inflation
B. A supply shocks
C. Crowding out
D. Inflation illusion
2 The abolition of income tax would probably ________ the number of workers in employment and____________ the equilibrium. rate of unemployment.
A. increase ; decrease
B. increase ; increase
C. reduce ; increase
D. reduce ; reduce
3 If the income tax rate changes from 30% to 40% on incomes over L 30,000 and a person's income is l 31,000 then her marginal tax rate is.
A. 30%
B. 10%
C. 70%
D. 40%
4 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
5 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
6 Higher export demand _______ output and a higher MPZ______ output..
A. Reduces, reduces
B. Reduces, increases
C. Increases, reduces
D. increases, increases
7 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
8 During periods of rising inflation and rising interest rates we expect the demand for real cash to.
A. rise
B. fall
C. not change
D. fluctuate
9 Economics assumes that people consume goods and services to achieve.
A. Status
B. Prestige
C. Utility
D. Self esteem
10 When the level of income _______ there will be atendency for the trade balance to improve as imports.
A. Increases, increase
B. falls, fall
C. Increase, fall
D. fall , increase

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