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

  • Total Questions20

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PPSC Economics Topic 2 Micro Economics

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Question # 1

An oligopolistic industry can be characterized by all of the following except

Question # 2

Skills that can be transferred to other employers are called.

Question # 3

The average total cost when 20 units of output are produced is

Question # 4

Holding all other things constant a higher price for ski lift tickets would.

Question # 5

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

Question # 6

An exceptional demand curve is.

Question # 7

When the demand curve is vertical its shows that the demand is.

Question # 8

Indifference curve has following characteristics except.

Question # 9

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

Question # 10

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

Question # 11

Elasticity of demand of luxurious goods is always more elastic

Question # 12

The "Law of demand" most directly means that consumers buy

Question # 13

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 # 14

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

Question # 15

In capitalistic economy price is determined by

Question # 16

Average fixed cost

Question # 17

In the short run the competitive firm will produce if.

Question # 18

Which of the following is a characteristics of monopolistic competition.

Question # 19

the ouput where diminishing return to production begin is also the ouput where

Question # 20

What is the production level for public good W, if the government uses full cost pricing.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 An increase in the discount rate at the FED generally has the following effect on bond prices.
A. There is no demonstrated effect
B. Such an increase tends to lower bond prices.
C. Such an increase tends to raise bond prices
D. Bond prices are related to the government purchase and sale of bonds.
2 A monopoly market.
A. Generally falls to maximize total economic well being.
B. Always maximizes total economic well being.
C. always minimizes consumers surplus
D. Generally falls to maximum produce surplus
3 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
A. Rs. 1500
B. Rs.1300
C. Rs.1200
D. Rs.300
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 The firms average variable cost of the 150th unit is.
A. Rs.15
B. Rs.17
C. Rs.20
D. Rs.9
6 Which of the following is correct with respect to the Paasche index.
A. The consumer Price index is an example of the Paasche index.
B. The Paasche index is biased upward
C. The Passche index always exceeds 1
D. The Paasche index uses given period quantities
7 Indifference curve is alwyas.
A. Vertical
B. Horizontal
C. Concave
D. Convex
8 If there is no price surprise, total output is.
A. 50
B. 150
C. 400
D. 200
9 In long run equilibrium a monopolistically competitive firm will find.
A. Marginal cost below average total cost
B. Marginal cost wqual to minimum average total cost
C. Both a and b
D. Neither a nor b
10 The tax is question 52 is
A. Progressive's
B. Regressive
C. Proportional
D. None of these

Test Questions