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

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

Question # 3

Some goods are not closely related to each other and are neither substitutes nor complements for such goods the cross price elasticity of demand would be.

Question # 4

Which of the following correct about firms in an oligopoly.

Question # 5

when there is huge change in demand following method is used to measure elasticity of demand.

Question # 6

If the price of both goods increase by the same percent , the budget line will.

Question # 7

If the price of product X falls and this change increases the demand for product Y then.

Question # 8

Economic growth is shown on the production possibility frontier as.

Question # 9

The supply curve of a perfectly competitive firm

Question # 10

As long as all prices remain constant an increase in money income results in.

Question # 11

If there are 50 firms in a industry each selling 2% of the total sales the concentration ratio is.

Question # 12

An elasticity coefficient of -1 means that

Question # 13

The price elasticity of demand is teh same thing as the negative of the

Question # 14

Average fixed cost

Question # 15

The marginal rate of substitution for two goods can be obtained from

Question # 16

As long as the principle of diminishing marginal utility is operating any increased consumption of a good.

Question # 17

Price elasticity at a given price is not affected by.

Question # 18

A demand curve that is an equilateral hyperbola is.

Question # 19

The price elasticity of demand will increase with the length of the period to which the demand curve pertains because.

Question # 20

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

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 Indifference curve theory is old wine in new labeled bottle is said by.
A. Marshall
B. Griffin
C. Ricardo
D. Allen
2 "Principles of economics" is the book of
A. Robbins
B. Adam smith
C. Hicks
D. Marshall
3 If consumers spend 15 million a month on CDs, regardless of whether the prrice they pay goes up or down that implies that their price elasticity of demand for CDs is.
A. 0
B. 1
C. Infinite
D. 15
4 The short term interest rates on bonds over the next 5 years is 6% , 7%, 9% ,10% and 8% according to the expectations Hypothesis, the interest rates on bonds with 5 years to maturity will be.
A. 6%
B. 8%
C. 10%
D. 9%
5 Law of variable proportion sis applicable in.
A. Short run
B. Long run
C. Anytime
D. Fore ever
6 In perfect competition a firm is.
A. Price taker
B. Price setter
C. Independent
D. Dependent
7 In the neighborhood of the long run equilibrium of a monopolistically competitive firm average cost will be.
A. Decreasing
B. Constant
C. Increasing
D. At a minimum
8 The "Law of demand" states that other things remaining the same the quantity demanded of any good is.
A. Directly related to its price
B. Positively related to its price
C. Inversely related to its price
D. Directly elated to the supply of the good
9 If A is preferred to B and B is preferred to C and there is indifference between A and D
A. D is preferred to C
B. B is preferred to D
C. There is indifference between C and D
D. There is indifference between B and D
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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