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

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

Question # 2

A dominant strategy is.

Question # 3

If the MPC is 0.5 the multiplier is

Question # 4

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

Question # 5

The retail price index is used to.

Question # 6

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

Question # 7

In the short run the level of floating exchange rates is determined mainly by.

Question # 8

By restricting labour supply a trade union can _________ and_______

Question # 9

For perfect competition ot work there must be

Question # 10

The short run Philips curve can shift in response to changes in

Question # 11

The cost of using capital services is the

Question # 12

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

Question # 13

In the economy when a steel producer sells steel to car producer it is regarded as.

Question # 14

Aggregate demand in an economy trading internationally with a government sector can be written s.

Question # 15

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

Question # 16

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

Question # 17

All of the following are benefits of the single market except.

Question # 18

The participation rate in the labour force is affected by

Question # 19

The total multiplier for the economy will reflect.

Question # 20

Normative economics form ______ based on.

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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 Bank create money by
A. Printing it
B. Issuing debit cards
C. Accepting chequeens
D. Lending out part of their deposits
2 Efficiency wages are_______ that raise
A. Low wages , employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment
3 The key issues of macroeconomics are
A. Unemployment
B. Inflation
C. Economic growth
D. All of the above
4 A competitive firms demand curve is.
A. Horizontal
B. Vertical
C. Down ward sloping
D. Fairly elastic
5 A fixed exchange rate, plus perfect capital mobility _______ the scope for monetary policy.
A. Enhances
B. Undermines
C. Encourages
D. Facilitates
6 Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.
A. Substitutes, interior
B. Normal, complements
C. Substitutes, complements
D. Normal , interior
7 The value of an asset depends upon
A. Its scrap value
B. Its depreciation
C. The present value of the failure stream of income it can earn.
D. the cost of loans
8 In the UK in recent years, union membership has ______ and days of work lost because of strikes has.
A. Grown, declined
B. declined, declined
C. declined, grown
D. grown , grown
9 In an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
10 An advocate of the classical model of the economy would claim that unemployment a created when the ___________ is above its equilibrium level in the.
A. Price level, agregate economy
B. Tax rate, government ebudget
C. Wage rate, labour market
D. Interest rate, market for loanable funds

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