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

An increase in the discount rate at the FED generally has the following effect on bond prices.

Question # 2

What is the per unit marginal cost of increasing production from 20 to 25 units.

Question # 3

Which of the following shifts the demand curve for hot dogs leftward.

Question # 4

In monopoly there is.

Question # 5

If an increase in the price of gasoline increases the demand for gas hybrid cars, then

Question # 6

Which of the policies in the table above an increase in social welfare according to pareto efficiency.

Question # 7

A monopolistically competitive firm differs from a perfectly competitive firming that unlike the perfectly competitive firm it.

Question # 8

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

Question # 9

Which of the following is a characteristic of monopolistic competition.

Question # 10

In case of complimentary goods, if the price of one commodity falls there will be.

Question # 11

Company A estimates the price elasticity of demand for its products.3.0 The price of the product is Rs. 15. If MC = 2+40, the profit maximizing level of output.

Question # 12

The short run supply curve for a competitive industry is derived by.

Question # 13

In monopolistic competition firm sell

Question # 14

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 # 15

In monopolistic competition, firms desire to sell more output at equilibrium because.

Question # 16

If a person's MPC is always two thirds and that person's break even point is Rs. 6,000, at a disposable income of Rs.9,000 the person's consumption expenditures will be.

Question # 17

In Production of goods and services tradeoffs exist becasue.

Question # 18

The Lorenz curve shows that

Question # 19

The arc elasticity formula is used to estimate elasticity when

Question # 20

Law of demand is not applicable on

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 One of the following has more elastic demand.
A. A commodity with substitutes
B. A commodity having more than one use
C. A commodity commonly use
D. None of these
2 Law of variable proportion sis applicable in.
A. Short run
B. Long run
C. Anytime
D. Fore ever
3 Suppose that the price elasticity of demand for maple syrup has been estimated at-2 if quantity demanded increased by 10 precent, price must have changed by.
A. 5 percent lower
B. 5 percent higher
C. 10 percent lower
D. 10 percent higher
4 Average fixed cost
A. Is U shaped
B. Declines over the entire output range.
C. Is a long run concept only
D. Is influenced by diminishing returns to production
5 A monopolist who is charging high price operates on.
A. inelastic part of demand curve
B. Elastic demand of part curve
C. Ignore elasticity
D. More elastic demand of part curve
6 Last week, Martha spend one day cleaning a house for this she was paid $50 The rest of the week, she spend looking for a job Martha would be callsified as.
A. Employed
B. Unemployed
C. Not in the labor force
D. None of these
7 The Isoquant curve shows different combinations of two factors of production which give the producer.
A. Different level of output
B. High level of output
C. low level of output
D. Same level of output
8 Which of the following taxes is regressive
A. The federal income tax
B. The state income tax
C. The sales tax
D. The Medicare tax
9 If a good has a lot of substitutes, then its demand is.
A. Elastic
B. Inelastic
C. Unit elastic
D. Elastic or inelastic depending on whether the price is increasing or decreasing
10 Cardinal approach theory was presented by
A. Marshall
B. Adam smith
C. Robbins
D. Hicks

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