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

For a competitive firm the demand curve

Question # 3

The demand for labor slopes down and to the right because of.

Question # 4

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

Question # 5

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

Question # 6

A typical demand curve cannot be

Question # 7

Allocative efficiency is achieved under which of the following market structures.

Question # 8

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

Question # 9

The same graph shows that the firm order to maximize profits , should produce.

Question # 10

The firm under monopolistic competition is likely to produce less and set a higher price than under perfect competition because.

Question # 11

Economists tend to disagree primarily about.

Question # 12

If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.

Question # 13

An income demanded curve of an inferior good is.

Question # 14

Average fixed cost

Question # 15

The are price elasticity of demand is approximately

Question # 16

Along the long run supply curve all of the following can vary except.

Question # 17

"Principles of economics" is the book of

Question # 18

One of the difference between a perfectly competitive fir's long run equilibrium and the long run equilibrium of a monopolistically competitive firm is that

Question # 19

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 # 20

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.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 Because a monopoly hires workers up to the point where their marginal revenue product equals the wage rate the monopoly will.
A. Pay less than the going wage rate
B. Pay a wage equal to the value of the marginal product of labor
C. Pay less than the value of the marginal product of labor
D. Pay workers what they are worth to society
2 Economists tend to disagree primarily about.
A. The implications of scarcity for our economy
B. Which resources are free
C. Topics in positive economics
D. Issues of normative economics
3 Immediately after a through we would expect to have al
A. Peak
B. Recession
C. Recovery
D. Another trough
4 Which of the following is an automatic stabilizer.
A. Unemployment benefits
B. Spending on education
C. Defense spending
D. Net interest
5 If there is no price surprise, total output is.
A. 50
B. 150
C. 400
D. 200
6 Indifference curve has following characteristics except.
A. Convex to origin
B. Intersect each other
C. Not necessary to be parallel
D. None of these
7 The competitive firm maximizes its profit by operating where
A. Average costs are at a minimum
B. Total revenue is at a maximum
C. Profit per unit is at a maximum
D. Marginal cost equals price
8 In monopolistic competition firm sell
A. Same goods
B. Differential goods
C. Inferior goods
D. Superior goods
9 What is the production level for public good W, if the government uses full cost pricing.
A. Q = 2
B. Q = 5
C. Q= 4
D. Q = 6
10 If a firm triples all inputs and output triples as well the firm is subject to
A. Constant returns to scale
B. Increasing returns to scale
C. Economies of scale
D. Both b and c

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