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

00:00
Question # 1

Which of the following is the second law of gossen.

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

Given the IS equation Y = Ke a - Ke Bn the IS slope decreases when

Question # 4

When equilibrium in the money and goods markets occurs at a rate of interest below the BP schedule internal and external equilibrium for the United States can he achieved by.

Question # 5

The reduction of the inflation rate is called

Question # 6

The short run impact of unanticipated expansionary monetary policy is that.

Question # 7

An increase in wealth that doesn't affect labor supply would cause the IS curve to _________ and the FE line to ____________

Question # 8

The government budget surplus equals

Question # 9

If the demand for coffee decreases as income decreases, coffee is a

Question # 10

Classical economics believe that in the short run.

Question # 11

The two main characteristics of the production function are.

Question # 12

Expansionary monetary policy

Question # 13

According to classical economists unemployment rises in recessions due to an increase in ______ unemployment , not in _______ unemployment.

Question # 14

Given the saving equation S = - 50 + 0, 20 Y, where s is saving and Y is income.

Question # 15

An economics variable that moves in the same direction as aggregate economic activity is called.

Question # 16

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

Question # 17

A firm's total labor cost when six workers are employed is Rs.580 When seven workers are employed the total labor cost is Rs.700 the Rs. 120 change in total labor cost represents.

Question # 18

When a person received an increase in wealth, what is likely to happen to consumption and saving.

Question # 19

The measured of GDP includes

Question # 20

When total utility becomes maximum then marginal utility will be.

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PPSC Economics Chapter 3 Important MCQ's

Sr.# Question Answer
1 In the Keynesian model which curve is vertical.
A. LRAS
B. SRAS
C. AD
D. NS
2 The equilibrium level of Y and I derived from the LM and IS equations above is.
A. Y = 130 and I = 10%
B. Y = 200 and I = 30%
C. Y = 180 and I = 7%
D. Y = 250 and I = 2%
3 The practice of using fiscal and monetary policy to stabilize the economy is known as.
A. Fine turning of deamand
B. Monetarism
C. Laissez faire economics
D. Supply side economics
4 The aggregate demand curve shows the combinations of output and the price level that put the economy on.
A. The FE line and the IS curve
B. The FE line The IS curve and the LM curve
C. The IS curve
D. The IS curve and the LM curve
5 An increase in the real wage rate will cause
A. The labor demand curve to shift to the right
B. The labor demand curve to shift to the left
C. The quantity of labor demanded to rise
D. A movement along the labor demand curve
6 Characteristics of economic laws are
A. Mere statement of economic tenduencies
B. Less certain
C. Hypothetical
D. All of the above
7 The ratio of the change in the equilibrium level of income to a change in some automats increase in spending is the
A. Elasticity coefficient
B. Multiplier
C. Automatic stabilizer
D. Marginal propensity of the autonomous variable
8 If the intercept of the consumption function is 75, and MPS is 0.10 the value of consumption expenditures at Yd = Rs. 5,000 is
A. Rs.4,500
B. Rs. 575
C. Rs.500
D.
Rs. 4,575
9 The term household production refers to
A. Output produced by forcing children to work
B. Output produced by workers who are telecommuting
C. Services provided directly to households such as lawn mowing by landscape companies.
D. Output produced at home
10 An expenditure reducing policy would consist of a decrease in
A. The par value of a currency
B. Government expenditures
C. Import duties
D. Business or household taxes

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