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

  • Time Allowed20

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PPSC Economics Topic 2 Micro Economics

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Question # 1

The downward kinked demand curve facing the individual oligopolistic implies that

Question # 2

If Supply and demand both decrease simultaneously. Which of the following will happen.

Question # 3

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 # 4

If the prices of both goods increase by the same percent the budget line will

Question # 5

In monopsony there is

Question # 6

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 # 7

The expected profit from the profit distribution above is.

Question # 8

Which of the following taxes is regressive

Question # 9

The short run supply curve for a competitive industry is derived by.

Question # 10

If a good is normal then the demand curve for that good must be.

Question # 11

Which of the following shifts the demand curve for hot dogs leftward.

Question # 12

Economic growth is shown on the production possibility frontier as.

Question # 13

The long run is a time period that is.

Question # 14

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

Question # 15

In perfect competition, a seller by increasing price.

Question # 16

A monopoly market.

Question # 17

If a monopolist's demand curve is downward sloping and linear, then its total revenue curve must be.

Question # 18

In the neighborhood of the long run equilibrium of a monopolistically competitive firm average cost will be.

Question # 19

In perfect competition the transpiration cost

Question # 20

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.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 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.
2 An oligopolistic industry can be characterized by all of the following except
A. May sellers
B. mutual interdependence
C. Economies of scale
D. A homogenous product
3 The classical are of the view that utility can be.
A. Ranked
B. Counted
C. Expressed in numbers
D. Not counted
4 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
5 The supply curve of a monopolist is always.
A. More elastic
B. Less elastic
C. undefined
D. Steeper
6 If the prices of both goods increase by the same percent the budget line will
A. Shift parallel to the left
B. shift parallel to the right
C. Pivot about the x axis
D. Pivot abut the Y axis
7 The total utility of the third unit of product x is.
A. 10
B. 5
C. 23
D. 38
8 As long as the principle of diminishing marginal utility is operating any increased consumption of a good.
A. Lowers total utility
B. Produces negative total utility
C. Lowers marginal utility and therefore total utility
D. Lowers marginal utility, but may raise total utility.
9 The same graph shows that the firm order to maximize profits , should produce.
A. 30 units charges a price of Rs. 16
B. 20 Units and charge a price of Rs. 22
C. 35 Units and charge a price of Rs. 12
D. 38 units and charge a price or Rs. 10
10 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

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