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

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 # 2

On a graph a positive linear relation ship.

Question # 3

Normative economics form ______ based on.

Question # 4

The firms long run output decision will be where.

Question # 5

Short run equilibrium output means that aggregate demand _ actual output

Question # 6

A competitive firms demand curve is.

Question # 7

The allocation of resources is not efficient it

Question # 8

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 # 9

The total multiplier for the economy will reflect.

Question # 10

Leakages from the circular flow are____ and _____

Question # 11

Bank create money by

Question # 12

At the intersection of AD and AS equilibrium is achieved in.

Question # 13

Economic growth may depend upon __________ and_________

Question # 14

The main cause of different relative costs between countries are.

Question # 15

The Philips curve shows the trade off between ________ and _____

Question # 16

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

Question # 17

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

Question # 18

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

Question # 19

The business cycle is not transmitted from one country to another through.

Question # 20

If some body is prepared to work at the going wage rate but cannot find work than they are victims 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 A firm that breaks even after all economic costs are paid is earning.
A. Economic profit
B. Accounting profit
C. Normal profit
D. Supernormal profit
2 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
3 A rise in the real exchange rate will __ the competitiveness of the domestic economy.
A. Increase
B. reduce
C. do nothing do
D. all of these
4 An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others
A. Worse off, worse off
B. better off, better off
C. better off, worse off
D. equal , unequal
5 The participation rate in the labour force is affected by
A. Higher real wages
B. Lower fixed costs of working
C. Lower non labor income
D. All of the above
6 When real income increases, other things equal we fan expect the demand for real money holdings to.
A. Fall
B. Not change
C. Increase
D. Decrease
7 With fixed exchange rates and no private currency flow, when the central bank buys domestic currency the domestic money supply is.
A. Increased
B. Unaffected
C. Reduced
D. All of the above
8 Women and non whiles on average receive lower comes than white men because.
A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above
9 The opportunity cost of a student is.
A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying.
D. What the student will earn after graduation.
10 We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.
A. Smaller
B. Larger
C. the same size
D. None of these

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