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

All of the following are parts of the business cycle except.

Question # 2

The real value can be derived from a nominal value by

Question # 3

The single European Act committed_ governments to a ___ in 1992

Question # 4

A market can accuretaly be described as

Question # 5

The opportunity cost of a good is.

Question # 6

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 # 7

The level of the equilibrium exchange rate offsets international difference in.

Question # 8

Economic growth may depend upon __________ and_________

Question # 9

If a country has a burden of debt it cannot sustain it can.

Question # 10

If two firms doing the same thing in the same industry join together this is known as a.

Question # 11

In a competitive industry each buyer and seller.

Question # 12

Micro economics is conceded with

Question # 13

If a price increase of good A increases the quantity demanded of good B, then good B is a.

Question # 14

The price elasticity of demand measures

Question # 15

In a free market

Question # 16

Skilled labour is relatively scarce because.

Question # 17

Bank create money by

Question # 18

Short run average total costs are equal to the sum of _______ and______

Question # 19

The allocation of resources is not efficient it

Question # 20

The quantity theory of money says that changes in ______ lead to equivalent changes in ______ but have no effect on.

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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 The opportunity cost of a good is.
A. The time lost in finding it
B. The quantity of other goods sacrificed to get another unit of that good
C. The expenditure on the good
D. The loss of interest in using savings
2 If desired spending in the economy exceeds income we would expect.
A. House hold to save more
B. Firm to produce less
C. Firms is produce more
D. the MPC to change
3 The single European Act committed_ governments to a ___ in 1992
A. European union, single market
B. Western European, single currency area
C. European union, single currency area
D. Western European, single market
4 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.
A. Market imperfection
B. The law of diminishing returns
C. The paradox of thriff
D. Market failure
5 At the intersection of AD and AS equilibrium is achieved in.
A. The goods market
B. The money market
C. The labour market
D. All of the above
6 On a graph a positive linear relation ship.
A. Moves down to the right
B. Moves up to the left
C. Moves up to the right
D. Modes down to the left
7 An increase in consumer income will increase demand for a __________ for decrease demand for a.
A. Substitute good interior good
B. Normal good, interior good
C. Interior good, normal good.
D. Normal good, complementary good.
8 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.
A. 30%
B. 10%
C. 70%
D. 40%
9 International specialization takes place because of.
A. Differences in technology
B. Differences in factor endowments
C. Scale economies
D. All of the above
10 For perfect competition ot work there must be
A. Many buyers and sellers
B. A standard product
C. Free entry and exit
D. All of the above

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