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

In Production of goods and services tradeoffs exist becasue.

Question # 2

A Market situation where the number of buyers is very large and the number of sellers are very small is called.

Question # 3

Indifference curve is alwyas.

Question # 4

Which of the following will not be a determinant of the price elasticity of demand for a commodity.

Question # 5

As the opportunity cost of a good falls, ceteris paribus the substitution effect implies that people buy

Question # 6

Oligopoly is a market structure in which

Question # 7

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

Question # 8

Foundation of law of demand is.

Question # 9

A firm's total revenue is Rs. 4,500 when it sells 15 pairs of boots compared to Rs. 4,480 when it sells 14 pairs,. The marginal revenue of the 15th pair of boots is.

Question # 10

According to Keynes, when the great depression started the government should be.

Question # 11

If the price of factor A is Rs.8.00 per hour, and its marginal product is 10 units, and the price of factor B is Rs. 5.00 and its marginal product is 9, is the producer is likely to.

Question # 12

If a monopolist faces a downward sloping market demand curve its.

Question # 13

A demand curve is not related to

Question # 14

The average total cost of a wedge increases from Rs. 0.79 ro Rs. 0.83 Evidently

Question # 15

Indifference curve approach is also called.

Question # 16

The price of salsa rises, How does the increase in the price of salsa affect the supply of salsa.

Question # 17

change in quantity demanded

Question # 18

Which of the following statements abut the relationship between marginal cost and average cost is correct.

Question # 19

Which skills are most likely to be paid for by the employer.

Question # 20

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

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 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.
A. Remains is balance
B. Has a surplus
C. Has a deficit
D. None of these
2 The tax is question 52 is
A. Progressive's
B. Regressive
C. Proportional
D. None of these
3 A linear homogenous production function would reveal.
A. Constant returns to scale
B. Increasing returns to scale
C. Decreasing return to scale
D. Doubling all inputs would more than double output
4 When goods are compliments the cross demand curve
A. Upward to the right
B. Backward to bottom
C. Inwards to the right
D. Downwards to right
5 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
6 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
7 An income demanded curve of an inferior good is.
A. Same in slope
B. Upward is slope
C. Downward in slope
D. None of these
8 An elasticity coefficient of -1 means that
A. The demand curve is perfectly inelastic
B. The demand curve is parfectly elastic
C. The relative changes in price and quantity are equal
D. Expenditures on the good would increase if price were reduced.
9 A price decrease and an increase in income are similar in that
A. Both force the consumer to achieve a lower level of well being
B. Both force the consumer to reach a lower indifference curve
C. Both move the budget line outward
D. They are not similar at all
10 A firm A's break even quantity is.
A. 10 units
B. 40 units
C. 50 units
D. 30 units

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