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

Nominal GNP measures income

Question # 2

Perfect price discrimination means that every customer.

Question # 3

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

Question # 4

The participation rate in the labour force is affected by

Question # 5

The long run Philips curve is _________ at the ______

Question # 6

A person who is made redundant because of the contraction of an industry is a victim of.

Question # 7

The single European Act committed_ governments to a ___ in 1992

Question # 8

The Philips curve shows the trade off between ________ and _____

Question # 9

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

Question # 10

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

Question # 11

The imposition of a tariff causes consumption to _______ and imports to.

Question # 12

Market failure may arise because of.

Question # 13

Extremality's arise because there is a divergence between ____ and _

Question # 14

import substitution is the replacement of ________ by domestic production under the protection of.

Question # 15

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

Question # 16

A good example of a public good is.

Question # 17

In Nash equilibrium each player chooses the best strategy.

Question # 18

The multiplier is calculated as.

Question # 19

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

Question # 20

We cannot say whether one allocation of resources is better than another allocation because.

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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 When capital mobility is perfect, interest rate differentials will tend to be offset by
A. Price differences.
B. Balance of payments differences.
C. Current account differences.
D. Expected exchange rate changes
2 The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.
A. At their lowest points
B. When they are declining
C. When they are increasing.
D. When marginal revenue is zero
3 Real GNP measures income
A. Including non market activities
B. Adjusted for inflation
C. Including externalities
D. Including tax evasion
4 The primary function of a bank is to.
A. Control the money supply
B. Provide notes and coins for trade
C. Make a profit
D. Provide a chequeen clearing system.
5 If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by
A. 20%
B. 2%
C. 12%
D. 15%
6 Fiscal policy is weak under floating exchange rates as fiscal expansion.
A. Crowds out imports
B. Crowds out public consumption
C. Crowds out exports
D. Reduces the budget deficit
7 The multiplier tells us how much __________ chagnes after a shift in.
A. Consumption, income
B. Investment , output
C. Savings, investment
D. output, aggregate demand
8 If the government increase spending and raises taxes by just enough to finance the increase it will.
A. Leave output unchagned
B. Increase output
C. Reduce output
D. Increase the MPC
9 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
10 The equilibrium price clears the market it is the price at which.
A. Everything is sold
B. Buyers spend all their money
C. Excess demand is zero
D. c and d

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