PPSC Economics Topic 3 MCQS Test Preparation

Are you getting prepared for the PPSC economics test to appear for the upcoming positions? Well, you are offered the best wishes for your attempt. However, at the same time, the team of Ilmkidunya invites all the candidates to get a better solution for PPSC examination preparation. Students can find sample PPSC online tests. These tests will make the students able to know the exact paper pattern and also help them to sort out the important questions according to examination. Here on this page, the test of Topic 3, Macroeconomics is offered. However, students can also attempt the tests of other Topic through separate sections and pages.

MCQ's Test For PPSC Economics Topic 3 Macro Economics

Try The MCQ's Test For PPSC Economics Topic 3 Macro Economics

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PPSC Economics Topic 3 Macro Economics

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Question # 1

In the long run a reduction in labor supply would cause output to _______ and the aggregate price level to.

Question # 2

An adverse supply shock that is permanent shifts which curve in addition to the curves shifted by.
One that is temporary.

Question # 3

A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the

Question # 4

When the price level increases 25% starting from a price level equal to 100, a Rs. 1000 bond will have a real value of .

Question # 5

Suppose the government provides a tax cut today that is matched by a tax increase in the future that's equal in present value to the tax cut This causes a consumer's saving to.

Question # 6

In which of the following situations will an increase in the money supply have no effect upon equilibrium iincome.

Question # 7

In the long run, an increase in productivity would cause output to _________ and the aggregate price level to

Question # 8

In the long run an increase in government purchases of military equipment would cause output to _________ and the aggregate price level to

Question # 9

The appropriate expenditure switching policy to correct a balance of payments deficit is.

Question # 10

The equilibrium level of employment achieved after the complete adjustment of wages and prices, is known as the.

Question # 11

In the Keynesian model in the short run a decrease in government purchases causes output to _____ and the real interest rate to.

Question # 12

The marginal product of labor

Question # 13

What is the possible cause for a falling real GNP over a period of time.

Question # 14

When an increase in government spending is matched by an equal decrease in government transfers the income level will.

Question # 15

Which of the following results in an increase in the value of the dollar.

Question # 16

The appropriate expenditure switching policy to correct a balance of payment surplus is.

Question # 17

Hyperinflation occurs when

Question # 18

"Human Welfare is the subject of Economics" Y. This statement is associated with the name of which of the economists.

Question # 19

Friedman and phelps suggested that there should not be a stable relationship between inflation and unemployment, but here should be a stable relationship between

Question # 20

Which of the following is an economic activity.

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PPSC Economics Chapter 3 Important MCQ's

Sr.# Question Answer
1 The estimated regression coefficient for good Y indicates
A. Goods X and Y are independent goods
B. Good Y is relatively elastic
C. Good Y is a luxury good
D. Goods X and Y are complementary goods
2 A rise in the exchange rate value of the rupee will most likely cause.
A. A dollar to be worth less in learns of other currencies.
B. Imports to decrease
C. Exports to increase
D. The balance of payments curve to shift to the left
3 The sign of the simple correlation coefficient is determined by
A. The intercept of the least squares equation.
B. The slope of the least squares equation
C. The appropriate economic theory.
D. The researcher
4 Most industrial construes generally considered _______ as the most important economic goal
A. External balance
B. Internal balance
C. Maximum efficiency for business
D. Maximum efficiency for labor
5 As the economy nears full capacity the short run aggregate supply curve
A. Stagflation
B. Structural inflation
C. Demand side inflation
D. Supply side inflation
6 In market economics the incentive that draws entrepreneurs into industry is.
A. Government bonuses for meeting production quotas
B. Profit
C. Government assumption of the risk of failure
D. Government assistance with making output and pricing decisions
7 The reason that only final sales are counted in GDP is
A. To avoid double counting good that are sold so as to be resold
B. To not count production in other countries
C. Because the government can't get records on intermediate sales.
D. To simplify the computation and no other reason
8 If a Canadian dollar costs 0.75 in terms of U.S. dollars, how much Canadian money would an American need to spend in Canada to get a dollar's worth of U.S. value.
A. 25$
B. 99$
C. Rs.1.25
D. Rs.1.13
9 In which of the following situations will an increase in the money supply have no effect upon equilibrium income.
A. LM is steeply sloped and IS is relatively flat
B. LM is vertical and IS si steeply sloped
C. LM is steeply sloped and IS is vertical
D. LM is relatively flat as is IS
10 The econometric problem of errors in variables leads to
A. Ballasted estimates of regression coefficients.
B. Autocorrelation
C. Unbiased estimates of regression coefficients but non minimum variance of estimated coefficients.
D. None of the above

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