PPSC Economics Topic 2 MCQS Test Preparation

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MCQ's Test For PPSC Economics Topic 2 Micro Economics

Try The MCQ's Test For PPSC Economics Topic 2 Micro Economics

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PPSC Economics Topic 2 Micro Economics

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Question # 1

The demand curve for labor for a monopolist when other inputs are fixed is equal to its

Question # 2

change in quantity demanded

Question # 3

The demand for labor will be more elastic if

Question # 4

The downward kinked demand curve facing the individual oligopolistic implies that

Question # 5

Perfect competition implies

Question # 6

A typical demand curve cannot be

Question # 7

When the price of an inferior goods falls ceteris paribus the substitution effect leads to ________ in the quantity purchased and the income effect leads to _______ in the quantity purchased.

Question # 8

A firm A's break even quantity is.

Question # 9

When the price of a pizza decreased from 1200 Rupees to 1000 Rupees, it is definitely the case that the.

Question # 10

in monopolistic competition the firms desire to sell more output at the equilibrium because.

Question # 11

The total utility of the third unit of product x is.

Question # 12

If the price elasticity of demand for a non giffen good is inelastic are decreased in its price result in.

Question # 13

As long as the principle of diminishing marginal utility is operating any increased consumption of good.

Question # 14

Which of the following groups is most hurt by unexpected inflation.

Question # 15

How much will a speculator invest now if he expects to earn Rs. 144 two years from now assuming the nominal rate of interest is 20%

Question # 16

Given a proportional income tax and a government budget that is currently in balance, an increase in autonomous investment ceteris paribus, Increases equilibrium income and the budget.

Question # 17

In the short run the competitive firm will produce if.

Question # 18

Cross -elasticity following commodities is very high

Question # 19

Which of the following is a characteristic of monopolistic competition.

Question # 20

A utility contour shows all the alternative combinations of two consumption goods that.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 Everyone's absolute income doubles family A's APC, according to the simple Keynesian consumption function is expected to.
A. Fall
B. Double
C. Increase
D. Halve
2 The demand for labor is the same as the
A. Marginal revenue product
B. Marginal physical product
C. Marginal cost
D. Wage
3 The largest source of tax revenue for the federal government is
A. The prerenal income tax
B. The social security tax
C. the property tax
D. The sales tax
4 In perfect competition there is.
A. Many buyers
B. Many sellers
C. Homogeneous product
D. All of these
5 A market demand curve can be derived by adding all the individual demand curves
A. Vertically
B. Horizontally
C. In parallel
D. Any of the above as long as it is consistent
6 In the short run the competitive firm will produce if.
A. Price is equal to marginal cost
B. Price is equal to marginal revenue
C. Price is equal to total cost
D. Price is equal to are greater than average variable cost.
7 "Treating an individual as typical of a group" in the definition of.
A. Pure discrimination human capital
B. Statistical discrimination
C. Human capital
D. Specific skills
8 If a price floor of Rs.15 is imposed, the governments cost is.
A. Rs.150
B. Rs.300
C. Rs.750
D. Rs.450
9 the ouput where diminishing return to production begin is also the ouput where
A. Marginal cost is at a minimum.
B. Average total cost is at a minimum
C. Average variable cost is at a minimum
D. Marginal and average
10 Which of the following is a characteristic of monopolistic competition.
A. One seller serving the entire market
B. When each firm sells an identical product
C. When firms do not compete on a product quality price and marketing
D. When firms are free is enter and exit the market

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