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

00:00
Question # 1

Which of the following taxes is regressive

Question # 2

If a monopolist's demand curve is downward sloping and linear, then its total revenue curve must be.

Question # 3

If the price of an apple increased from 50 to 60 the quantity demanded will decrease because of.

Question # 4

The average total cost of a wedge increases from Rs. 0.79 ro Rs. 0.83 Evidently

Question # 5

The epigram "time is money" expresses , in part, the concept of.

Question # 6

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 # 7

change in quantity demanded

Question # 8

Which of the following is a characteristic of monopolistic competition.

Question # 9

Indifference curve has following characteristics except.

Question # 10

When economists say that a per son is economizing they mean that the person is.

Question # 11

If the monopolist maximizes profits when marginal revenue equals marginal cost equals average cost economic profits must be.

Question # 12

Perfect competition implies

Question # 13

A price cross elasticity of 0.81 between X and Y shows that.

Question # 14

An economy that falls to realize all of its p9otential gains from specialization is.

Question # 15

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

Question # 16

If a price floor of Rs.15 is imposed, the governments cost is.

Question # 17

The negative slope of the demand curve indicates that there is _______ relationship between the price and the quantity demanded.

Question # 18

MC = MR= AR=AC = Price shows the longs run

Question # 19

Elasticity of demand of luxurious goods is always more elastic

Question # 20

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

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 The short term interest rates on bonds over the next 5 years is 6% , 7%, 9% ,10% and 8% according to the expectations Hypothesis, the interest rates on bonds with 5 years to maturity will be.
A. 6%
B. 8%
C. 10%
D. 9%
2 Indifference curve theory is old wine in new labeled bottle is said by.
A. Marshall
B. Griffin
C. Ricardo
D. Allen
3 The exit of firms out of a competitive market causes the supply curve to.
A. Shift leftward
B. shift rights ward
C. None of the above for the exit of firms supply curve
D. shift either left or right depending on the number of firms leaving the market
4 When economists say that a per son is economizing they mean that the person is.
A. making choices to gain benefits at lowest possible cost
B. Making a lot of money
C. Purchasing goods that are generic cheap or of low quality
D. Learning how to run a business more effecitively
5 In monopoly the firm can
A. Price
B. Output
C. Either price or output
D. Both a and b
6 As disposable income increases from Rs. 1500 to 2000 , saving increases from minus Rs. 50 to Rs.250 if the relationship between disposable income and saving is linear, the MPC obviously has a value of.
A. .6
B. .8
C. .4
D. .2
7 Elasticity of demand of luxurious goods is always more elastic
A. More elastic
B. Less elastic
C. Equal elastic
D. None elastic
8 Law of variable proportion sis applicable in.
A. Short run
B. Long run
C. Anytime
D. Fore ever
9 If the price of factor A is Rs.8.00 per hour, and its marginal product is 10 units, and the price of factor B is Rs. 5.00 and its marginal product is 9, is the producer is likely to.
A. Hire more of A and less of B
B. Hire more of B and less of A
C. Start paying factor A more
D. Try to use factor B more productively
10 The demand curve of unitary elastic commodity is.
A. Rectangular hyperbola
B. Parabola
C. Straight line
D. None of these

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