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

The hypothesis would the tested with

Question # 2

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

Question # 3

The equation for a givne production function is Q = K2 + KL, initially K = 2 and L = 1 if the value of both inputs is doubted the production function exhibite.

Question # 4

Given a proportional income tax and a government budget that is currently in balance, an increase in autonomous investment , caters parabasal increases equilibrium income and the budget.

Question # 5

The equilibrium level of income of the open economic model is.

Question # 6

Quality controlleers at the LMN corporation formulate the null hypothesis that the proportion of defective items in the production line is 10% they reject this hypothesis when they find 12 defective items in 100. If the defective rate is really 10% What type of error did they make.

Question # 7

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

Question # 8

Keynes and Say's macroeconomic theory of employment were diametrically opposed Say state that.

Question # 9

What did economist Adam Smith identity as the "invisible hand" that directs the decision making of firms and households in a market economy.

Question # 10

Economists use the phrase ceteris paribus to express the assumption.

Question # 11

Which of the following macro economic variables is procyclical and coincident with the business cycle.

Question # 12

Which of the following procedures is included in the process that produces a value for disposable personal income

Question # 13

The natural rate of unemployed is generally thought of as the.

Question # 14

An increase in autonomous net exports

Question # 15

Which of the following will not result in an increase in the level of income.

Question # 16

Which market adjusts the quickest in response to shocks to the economy.

Question # 17

An increase labor supply would cause the IS curve to.

Question # 18

The practice of using fiscal and monetary policy to stabilize the economy is known as.

Question # 19

A decrease in the marginal propensity to import will lead to.

Question # 20

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

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PPSC Economics Chapter 3 Important MCQ's

Sr.# Question Answer
1 A change that increase real money demand relative to the real money supply causes.
A. The LM curve to shift down and to the right
B. The LM curve to shift up and to the left
C. The IS curve to shift down and to the left
D. The IS curve to shift up and to the right
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 Which of the following changes shifts the AD curve up and to the right.
A. A rise in the nominal money supply
B. An increase in income taxes
C. An increase in the risk on nonmonetary assets
D. A decreasing the future marginal productivity of capital.
4 Hyperinflation occurs when
A. The inflation rate rises
B. The inflation Tate declines
C. The inflation rate is extremely high
D. The inflation rate is extremely low
5 After a temporary beneficial supply shock hits the economy general equilibrium is restored by
A. A shift down and to the left of the IS curve
B. A shift to the left of the FE line
C. A shift up and to the left to the LM curve
D. A shift down and to the right of the LM curve
6 An adverse supply shock that is permanent shifts which curve in addition to the curves shifted by.
One that is temporary.
A. The LM curve
B. The IS curve
C. The FE line
D. The labor demand curve
7 If the quantity of money demands is less than the quantity of money supplied then the interest rate will.
A. Either increases or decrease, depending on the amount of excess demand.
B. Increase
C. Decrease
D. not change
8 Quality controlleers at the LMN corporation formulate the null hypothesis that the proportion of defective items in the production line is 10% they reject this hypothesis when they find 12 defective items in 100. If the defective rate is really 10% What type of error did they make.
A. Standard error of the mean
B. A type II error
C. A type I error
D. The error probability
9 Full- employment output is the level of output that firms in the economy supply when
A. Taxes are zero
B. Wages and prices have fully adjusted
C. The unemployment rate in zero
D. All capital is fully utilized
10 Which of the following is incorrect with respect to the consumption diagram.
A. the interest rate is a premium
B. MRS = (i +r)
C. The consumer will be lender in time zero
D. The consumer lends 700

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