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

If British Residents want more French francs to purchases more fresh wine, other things equal than the equilibrium value of the pound against the French farce will.

Question # 2

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

Question # 3

Land will be allocated between competing uses so that.

Question # 4

If a country has a burden of debt it cannot sustain it can.

Question # 5

International specialization takes place because of.

Question # 6

The primary function of a bank is to.

Question # 7

All of the following represent obstacles to LDC development except.

Question # 8

Potential output can be increased by _________ or by_________

Question # 9

The main cause of different relative costs between countries are.

Question # 10

A market can accuretaly be described as

Question # 11

Real business cycle theorists argue that ___________ can explain short and long term fluctuations in output.

Question # 12

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

Question # 13

Market failure may arise because of.

Question # 14

A profit maximizing firm will hire labor until _______ equal the

Question # 15

Skilled labour is relatively scarce because.

Question # 16

If both Marginal cost and marginal revenue increase, a firm.

Question # 17

The single European Act committed_ governments to a ___ in 1992

Question # 18

Higher export demand _______ output and a higher MPZ______ output..

Question # 19

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

Question # 20

When real income increases, other things equal we fan expect the demand for real money holdings 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 Floating exchange rates are __ in the short run
A. Stable
B. Volatile
C. Predictable
D. Depreciating
2 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
3 In a competitive industry each buyer and seller.
A. Is a price taker
B. Produce different products
C. Believes that can influence price
D. Prevents the entry of competitors
4 Skilled labour is relatively scarce because.
A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers salaries are too low
5 Land will be allocated between competing uses so that.
A. Housing gets priority
B. Industry gets priority
C. Faming gets priority
D. The equilibrium rental rate equilibrium total demand with supply
6 All of the following represent obstacles to LDC development except.
A. Resource scarcity
B. Low level of investment
C. Low population
D. Poor infrastructure
7 One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.
A. rise, increases, increases
B. rise, falls, increases
C. rise, increases, falls
D. rise, falls, falls
8 Comparing a monopoly and a competitive firm the monopolist will.
A. Produce less at a lower price
B. Produce more at a lower price
C. Produce less at a higher price
D. Produce less at a lower price
9 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
10 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

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