Question # 1

Marginal revenue is the ________ when output is.

Choose an answer

Change in average revenue, inversed.

change in total revenue, increased by one unit

change in average revenue, increased by one unit

Change in total revenue, incresed.

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

Choose an answer

Substitute good interior good

Normal good, interior good

Interior good, normal good.

Normal good, complementary good.

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

Choose an answer

Increasing returns to scale

Decreasing returns to scale.

Constant returns to scale

the minimum efficient scale

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

Choose an answer

Externality

Market imperfection

Deadweight burden

Free rider

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

Choose an answer

Primary products

Intermediate products

Manufactured products

Financial services.

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

Choose an answer

Current account

Interest rate

Tax

Price

Bank create money by

Choose an answer

Printing it

Issuing debit cards

Accepting chequeens

Lending out part of their deposits

Floating exchange rates are __ in the short run

Choose an answer

Stable

Volatile

Predictable

Depreciating

Market failure may arise because of.

Choose an answer

Imperfect competition

Taxation

Externalities

All of the above

The business cycle describes fluctuations in output around the.

Choose an answer

Trend path of output

Boom

Recession

Short run fluctuations in output

Human capital can be described as.

Choose an answer

The tools used by workers to entrances productivity

a persons inherited abilities.

The stock of expertise accumulated by a worker

Education

M4 is a _________ measures of money and includes deposits at both _____________ and

Choose an answer

Narrow, banks, building societies

Wide, banks, insurance companies

narrow, banks, insurance companies

Wide, banks, building societies.

Potential output can be increased by _________ or by_________

Choose an answer

Increasing the use of labour, increasing the use of land

Increasing the use of capital, increasing the use of labour

Increasing the use of land, increasing the use of capital

Increasing the use of all inputs technical advances

The value of an asset depends upon

Choose an answer

Its scrap value

Its depreciation

The present value of the failure stream of income it can earn.

the cost of loans

Economics is the study of

Choose an answer

Production technology

Consumption decisions

How society decides what how and for whom to produce

The best way to run society

When we refer to the hidden economy we mean unrecorded income owing to.

Choose an answer

Tax evasion

Poor statistics

The lags between statistical collection and publication .

Smuggling

Real business cycle theory suggests that __________ not important in explaining short term fluctuations around actual output.

Choose an answer

aggregate supply is

aggregate demand is

Potential output is

Real variables are

Leakages from the circular flow are____ and _____

Choose an answer

Investment savings, government expenditure

Saving , taxes net of subsidies, imports

Consumption, investment , government expenditure.

Consumption, taxes, impports

Land will be allocated between competing uses so that.

Choose an answer

Housing gets priority

Industry gets priority

Faming gets priority

The equilibrium rental rate equilibrium total demand with supply

Real GNP is a crude measure of national welfare because it excludes.

Choose an answer

Consumption

Investment

Export's

work in the home

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

Choose an answer

Appreciate

Depreciate

Revalue

be in short supply

More Classes

Other Links

PPSC Economics Chapter 11 Assess Your Basics MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer