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

Given the cost data indicated in the table above the average variable cost of producing 7 units of output is

Question # 2

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 # 3

Law of variable proportion sis applicable in.

Question # 4

The expected profit from the profit distribution above is.

Question # 5

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

Question # 6

The Lorenz curve shows that

Question # 7

A negatively sloped isoquant implies

Question # 8

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 # 9

The ABC corporation.

Question # 10

The monopolization of the competitive market results in a deadweight loss to society of

Question # 11

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

Question # 12

The tax is question 52 is

Question # 13

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

Question # 14

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 # 15

In the short run the competitive firm will produce if.

Question # 16

Price discrimination is possible

Question # 17

In perfect competition the industry will be in equilibrium.

Question # 18

When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firm in the market we have

Question # 19

If a firm which polluted the water of area had to pay all social cost would have

Question # 20

A drop in the price of compact disc shifts the demand curve for prerecord tapes leftward from that you know that compact discs and precorded tapes are.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 The are price elasticity of demand is approximately
A. 0.3
B. 3.3
C. 6.0
D. 0.2
2 Elasticity of demand of luxurious goods is always more elastic
A. More elastic
B. Less elastic
C. Equal elastic
D. None elastic
3 The monopolization of the competitive market results in a deadweight loss to society of
A. RSJK
B. JKL
C. THJ
D. RSJL
4 If the estimated values of Y and Py in 1987 are Rs. 20,000 and Rs. 6 respectively, what is the maximum price of X.
A. Rs.420
B. Rs.240
C. Rs.300
D. Rs.360
5 A combination labour and capital where the cost of an output is minimized is called.
A. Optimum factor combination
B. Good combination
C. Least combination
D. Substitutes combination
6 The marginal rate of substitution of two goods can be obtain from
A. Slope of budget line
B. Slope of demand curve
C. Slope of indifference curve
D. None of these
7 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
8 A market demand curve can be derived by adding all the individual demand curves
A. Vertically
B. Horizontally
C. In parallel
D. Any of the above as long as it is consistent
9 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.
A. Rs. 8,000
B. Rs. 5,000
C. Rs.6,000
D. Rs.7500
10 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.

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