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

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Question # 1

Economic transition involves high inflation because ______ and _____

Question # 2

When the level of income _______ there will be atendency for the trade balance to improve as imports.

Question # 3

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 # 4

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 # 5

Leakages from the circular flow are____ and _____

Question # 6

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

Question # 7

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

Question # 8

The retail price index is used to.

Question # 9

Comparing a monopoly and a competitive firm the monopolist will.

Question # 10

Aggregate demand without a foreign sector is the sum of.

Question # 11

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

Question # 12

A natural monopoly has a declining ________ over a large range of output.

Question # 13

A monopoly may be self perpetuating because profits may be used for

Question # 14

Nominal GNP measures income

Question # 15

In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.

Question # 16

Macro economics is the study of.

Question # 17

When we know the quantity of a product that buyers wish to purchases at each possible price we know.

Question # 18

the Maastricht criteria for entry to the EMU are that applicants should have

Question # 19

If a long average cost rises, output rises from left to right this is an example of.

Question # 20

The growth rate of economics tend to converge because._________ is easier when capital per worker is low and because of_____

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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 an open economy leakages to imports ______ the value of the multiplier.
A. Reduce
B. Increase
C. do not change
D. None of these
2 A straight line diagram can be drawn knowing the _______ and _____
A. Vertical axis and horizontal axis
B. Intercept and slope
C. Scale and slope
D. Intercept and scale.
3 Output fell sharply in the transition economies because.
A. Banks were undoable to function
B. There was little corporate control
C. Vital infrastructure was missing
D. All of the above
4 Real GNP is a crude measure of national welfare because it excludes.
A. Consumption
B. Investment
C. Export's
D. work in the home
5 In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.
A. 15%
B. 20%
C. 25%
D. 30%
6 If a long average cost rises, output rises from left to right this is an example of.
A. Increasing returns to scale
B. Decreasing returns to scale.
C. Constant returns to scale
D. the minimum efficient scale
7 A tariff causes domestic firms to __________ and consumers to
A. Overproduced, under consume
B. overproduce , overconsume
C. Underproduce, under consume
D. underproduce, overconsume
8 Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.
A. Deficit
B. Surplus
C. Revaluation
D. Devaluation
9 Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.
A. Exceed
B. Fall below
C. Fluclaute around
D. Remain equal to.
10 All of the following are benefits of the single market except.
A. It allows countries to exploit their comparative advantage, more fully
B. Firms could more readily exploit economies of scale
C. It intensified competition
D. It is easier book holidays in member countries.

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