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

All of the following represent obstacles to LDC development except.

Question # 2

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 # 3

Real business cycle are cycles in

Question # 4

The extra utility from consuming one more unit of a good is called.

Question # 5

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

Question # 6

Economics assumes that people consume goods and services to achieve.

Question # 7

Land will be allocated between competing uses so that.

Question # 8

The short run Philips curve can shift in response to changes in

Question # 9

In the UK under a _________ of the labour force belong to a trade union.

Question # 10

If one country, with floating exchange states, has higher inflation than its competitors, we would expect its exchange rate to.

Question # 11

A competitive equilibrium is Pareto efficient because.

Question # 12

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

Question # 13

The costs of inflation are

Question # 14

Perfect price discrimination means that every customer.

Question # 15

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

Question # 16

Polices to reduce unemployment by reducing union power tax cut reduction is unemployment benefit and investment. subsidies are examples of.

Question # 17

The opportunity cost of acquiring education is.

Question # 18

International difference in opportunity costs lead to countries acquiring.

Question # 19

Monetarists believe that a reduction in _____ can be achieved by reducing.

Question # 20

All of the following are benefits of the single market except.

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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 The Keynesian model is a good guide to ______ behavior and the classical model describes behavior in.
A. Long run, short run
B. Flexible, imperfect markets
C.
Short term , long run
D. Ong run, imperfect market.
2 Government may contribute to inflationary pressure on account of building up large.
A. Numbers of employees
B. Welfare plans
C. Budget deficits
D. Expenditure.
3 The increase in total cost when one more units is produced is known as.
A. Marginal cost
B. Opportunity cost
C. Limited cost
D. Average cost
4 If the central bank buys financial securities in the open market to increase the monetary base, this is an example of.
A. Lender of last resort
B. Financial intermediation
C. Open market operations
D. Financial regulation.
5 The opportunity cost of acquiring education is.
A. Course fees
B. Course fees and living expenses
C. The earning foregone
D. Course fees, living expenses and textbooks
6 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
7 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
8 The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.
A. Prices, wages, output and employment.
B. Output, prices, employment
C. Nominal money, the price level output and employment.
D. Nominal money output prices
9 If the MPC is 0.5 the multiplier is
A. 2
B. 1/2
C. 0.2
D. 20
10 a demand curve can shift because of changing.
A. Incomes
B. Prices of related goods
C. Testes
D. All of the above

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