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

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

Question # 2

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.

Question # 3

Assume a cosumer buys 25 units of good X at Rs.8 and 10 units of good Y at Rs. 6 in 1980. If Px = Rs. 6 and Py = Rs. 4 in 1970 the pasasche index is.

Question # 4

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

Question # 5

In perfect competition there is.

Question # 6

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.

Question # 7

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

Question # 8

The statement that marginal cost = marginal revenue leads to profit maximization of loss minimization is true.

Question # 9

Last week, Martha spend one day cleaning a house for this she was paid $50 The rest of the week, she spend looking for a job Martha would be callsified as.

Question # 10

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

Question # 11

Law of demand is not applicable on

Question # 12

Firm A's annual profit is.

Question # 13

The price of Ketchup at a market increases by 12.5% per can, which results in a decrease in quantity purchased by 40% per week, the demand is.

Question # 14

Cardinal approach theory was presented by

Question # 15

The "Law of demand" states that other things remaining the same the quantity demanded of any good is.

Question # 16

The Isoquant curve shows different combinations of two factors of production which give the producer.

Question # 17

The exit of firms out of a competitive market causes the supply curve to.

Question # 18

A monopolist will maximize profit.

Question # 19

If the production function is Q = 8 KL the marginal rate of technical substitution of labor for capital is.

Question # 20

Cross -elasticity following commodities is very high

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 In the short run, the supply of farm commodities is.
A. Inelastic
B. Less elastic
C. More elastic
D. Undetermined
2 Ti access internet services consumers must use a computer if computer prices fall, what is the effect on the demand for internet services.
A. The demand for internet services increases.
B. The demand for internet services decreases
C. The demand for internet services does not change
D. The demand for internet services could increase, decrese, or stay the same depending on other factors.
3 In perfect competition there is.
A. Many buyers
B. Many sellers
C. Homogeneous product
D. All of these
4 An -increase the expected future price of a good.
A. Increases its demand
B. Decreases its demand
C. Increases its supply
D. Has no effect on either its demand or its supply.
5 The method most commonly used to test the overall significance of a regression is.
A. The t test
B. The F -test
C. Chi square test
D. R
6 The demand curve of unitary elastic commodity is.
A. Rectangular hyperbola
B. Parabola
C. Straight line
D. None of these
7 In perfect competition the transpiration cost
A. Excluded from the total cost
B. Is important figure in total cost
C. Is ignored
D. All of these
8 If an increase in the price of gasoline increases the demand for gas hybrid cars, then
A. Hybrid cars are an inferior good
B. Gasoline and hybrid cars are complements in consumption
C. Gasoline is an inferior good
D. Gasoline and hybrid cars are substitutes in consumption
9 A profit maximizing monopolist in two separate markets will
A. Charge different price according to elasticity
B. Charged same price
C. Charged very high price
D. Charged very low price
10 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

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