PPSC Economics Topic 11 Assess Your Basics

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  • Chapter NameAssess your Basis

PPSC Economics Topic 11 Assess Your Basics

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PPSC Economics Topic 11 Assess Your Basics

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Question # 1

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

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

Leakages from the circular flow are____ and _____

Question # 6

In the ERM, each country fixed ___ against each other ERM participant collectively the group._____ against the rest of the world.

Question # 7

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

Question # 8

Firms are assumed to ____ costs and to _______ profit.

Question # 9

A competitive equilibrium is Pareto efficient because.

Question # 10

A tariff causes domestic firms to __________ and consumers to

Question # 11

The single European Act committed_ governments to a ___ in 1992

Question # 12

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

Question # 13

Higher export demand _______ output and a higher MPZ______ output..

Question # 14

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

Question # 15

Normative economics form ______ based on.

Question # 16

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

Question # 17

For a competitive firm its short run supply curve is ________ and its long run supply curve is.

Question # 18

If I keep some money available in case I see a bargain this is an example of.

Question # 19

The total multiplier for the economy will reflect.

Question # 20

If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely

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