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

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

Question # 2

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

Question # 3

When Daimler Benz maker of the Mercedes bought Chrysler the merger was

Question # 4

For commodities, X and Y, the possibilities are X is preferred to Y , Y is preferred to X or X and Y are equally preferred, In indifference curve analysis, this is known as the.

Question # 5

In order to practice price discrimination which of the following is needed.

Question # 6

Which of the following is NOT an example of non price competition the auto industry.

Question # 7

According to Keynes, when the great depression started the government should be.

Question # 8

Which of the following is a characteristic of monopolistic competition.

Question # 9

Which of the following is correct for the demand and supply schedules given above.

Question # 10

A normal good can be defined as one which consumers purchase more of as.

Question # 11

A demand curve shows that relation between price and demand.

Question # 12

Indifference curve is alwyas.

Question # 13

An exceptional demand curve is.

Question # 14

Price discrimination is possible

Question # 15

The arc elasticity formula is used to estimate elasticity when

Question # 16

At level of income and output of 100 in the diagram above

Question # 17

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

Question # 18

A combination labour and capital where the cost of an output is minimized is called.

Question # 19

An income demanded curve of an inferior good is.

Question # 20

Projects A,B,C,D,E cost Rs. 100, Rs, 200, Rs. 300, Rs. 400, and Rs. 500 with MEC's of 0.07, 0.06,0.09 ,0.10 and 0.11 respectively. The market rate of interest is 8% Total investment spending is

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 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
2 If the price elasticity of demand for a non giffen good is inelastic are decreased in its price result in.
A. Increase in demand
B. Decrease in demand
C. Increase in total revenue
D. Decrease in total revenue
3 Elasticity of demand of luxurious goods is always more elastic
A. More elastic
B. Less elastic
C. Equal elastic
D. None elastic
4 A demand curve shows that relation between price and demand.
A. Positive
B. Negative
C. Zero
D. Very strong
5 An oligopolistic industry can be characterized by all of the following except
A. May sellers
B. mutual interdependence
C. Economies of scale
D. A homogenous product
6 If a good is normal then the demand curve for that good must be.
A. Downward sloping
B. Upward sloping
C. Perfectly elastic
D. Completely inelastic
7 Disposable income is equal to.
A. National income
B. National income minus taxes plus transfers
C. Real GDP
D. National income Minus taxes
8 If a monopolist's demand curve is downward sloping and linear, then its total revenue curve must be.
A. Identical to the demand curve
B. A ray from the origin with a slope equal to price
C. negative sloped with twice the slope of the demand curve
D. A rising function of output that increases at a decreasing rate , reaches a maximum, then falls.
9 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.
A. 4 units
B. 2 umits
C. 5 units
D. 3 units
10 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

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