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

The retail price index is used to.

Question # 2

The allocation of resources is not efficient it

Question # 3

LDC's often have a comparative advantage in the production of.

Question # 4

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 # 5

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

Question # 6

The Philips curve shows the trade off between ________ and _____

Question # 7

On a graph a positive linear relation ship.

Question # 8

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

Question # 9

Aggregate demand without a foreign sector is the sum of.

Question # 10

Government may contribute to inflationary pressure on account of building up large.

Question # 11

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

Question # 12

An increase in consumer income will increase demand for a __________ for decrease demand for a.

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

A reduction in interest rates, causes an increases in the monetary base that result in an_____ in the availability of consumer credit and a _ in the cost of consumer credit.

Question # 15

Fiscal policy is weak under floating exchange rates as fiscal expansion.

Question # 16

For perfect competition ot work there must be

Question # 17

International specialization takes place because of.

Question # 18

The main cause of different relative costs between countries are.

Question # 19

Bank create money by

Question # 20

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

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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 Marginal revenue is the ________ when output is.
A. Change in average revenue, inversed.
B. change in total revenue, increased by one unit
C. change in average revenue, increased by one unit
D. Change in total revenue, incresed.
2 For a competitive firm its short run supply curve is ________ and its long run supply curve is.
A. SMC , LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC Below SAVC, LMC below LAC
3 If a price increase of good A increases the quantity demanded of good B, then good B is a.
A. substitute good
B. Complementary good
C. Bargain
D. Interior good
4 When we refer to the hidden economy we mean unrecorded income owing to.
A. Tax evasion
B. Poor statistics
C. The lags between statistical collection and publication .
D. Smuggling
5 Adding up the quantities demanded of a good by different people facing the same price gives us the.
A. Supply curve
B. Market demand curve
C. Demand curve
D. Market supply curve
6 In the economy when a steel producer sells steel to car producer it is regarded as.
A. A final good
B. An intermediate good
C. an injection
D. a leakage
7 When investment is assumed to autonomous the slope of the AD schedule is determined by the.
A. Marginal propensity to invest.
B. disposable income
C. Marginal propensity to consume
D. Average properisity to consume
8 The short run Philips curve can shift in response to changes in
A. inflationary expectations
B. Unemployment
C. The inflation rate
D. Wage rates
9 The firms long run output decision will be where.
A. Long run average cost a lowest
B. Marginal revenue equals output
C. Marginal revenue equals long run marginal cost
D. Marginal cost equals output
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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