PPSC Economics Topic 11 Assess Your Basics

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  • Chapter NameAssess your Basis

PPSC Economics Topic 11 Assess Your Basics

  • Total Questions20

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PPSC Economics Topic 11 Assess Your Basics

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Question # 1

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

Question # 2

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

Question # 3

All of the following represent obstacles to LDC development except.

Question # 4

The Philips curve shows the trade off between ________ and _____

Question # 5

Short run equilibrium output means that aggregate demand _ actual output

Question # 6

The long run Philips curve is _________ at the ______

Question # 7

A competitive firms demand curve is.

Question # 8

Floating exchange rates are __ in the short run

Question # 9

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

Question # 10

Potential output can be increased by _________ or by_________

Question # 11

In the neoclassical theory of growth a higher saving rate leads to.

Question # 12

Economic growth may depend upon __________ and_________

Question # 13

The primary function of a bank is to.

Question # 14

All of the following are type of monetary policy except

Question # 15

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 # 16

Starting from a balanced budget, for a given tax rate an increase in income will cause the government budget to.

Question # 17

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

Question # 18

In Nash equilibrium each player chooses the best strategy.

Question # 19

If the MPC is 0.5 the multiplier is

Question # 20

In an open economy leakages to imports ______ the value of the multiplier.

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