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

The quantity of Y demanded increases by 6% when income changes, and income elasticity of demand is -0.9 income

Question # 2

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

Question # 3

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

Question # 4

Suppose taht an exise tax is imposed on the monopolist's product if the monopolist's marginal cost is horizontally the relevant range, which of the following statements must be true.

Question # 5

In monopolistic competition, firms desire to sell more output at equilibrium because.

Question # 6

One of the difference between a perfectly competitive fir's long run equilibrium and the long run equilibrium of a monopolistically competitive firm is that

Question # 7

Which of the following is a function of money

Question # 8

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

Question # 9

The marginal rate of substitution of two goods can be obtain from

Question # 10

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.

Question # 11

In Production of goods and services tradeoffs exist becasue.

Question # 12

Marginal cost is the change is cost the result from a one unit increase in.

Question # 13

In substitution effect a consumer

Question # 14

In order to constitute an oligopolistic market structure.

Question # 15

In perfect competition price is settled by

Question # 16

Which of the following groups is most hurt by unexpected inflation.

Question # 17

In the short run the competitive firm will produce if.

Question # 18

Price elasticity at a given price is not affected by.

Question # 19

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

Question # 20

If a monopolist's has only fixed costs and chooses that output at which marginal cost equals price. it will

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 In substitution effect a consumer
A. Shifts away from the commodity which price has risen
B. shifts in favor of commodity which price has risen
C. shifts away from the commodity which price has fallen
D. None of these
2 If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.
A. 40
B. 120
C. 80
D. None of the above
3 When the demand curve is vertical its shows that the demand is.
A. Less elastic
B. Very high elastic
C. Elastic
D. Perfectly inelastic
4 The negative slope of the demand curve indicates that there is _______ relationship between the price and the quantity demanded.
A. A direct
B. An inverse
C. A positive
D. No relationship
5 If the price of an apple increased from 50 to 60 the quantity demanded will decrease because of.
A. The substitution effect only
B. The income effect only
C. A change in income
D. The substitution and income effects.
6 An indifference curve shows various combinations to goods Which gives the consumer.
A. Equal level of utility
B. Low level of utility
C. High level of utility
D. None of these
7 If there is no price surprise, total output is.
A. 50
B. 150
C. 400
D. 200
8 Perfect competition implies
A. Homogeneous goods
B. Inferior goods
C. Superiors goods
D. Differential goods
9 In case of complimentary goods, if the price of one commodity falls there will be.
A. Rise in demand of other commodity
B. Fall in demand of other commodity
C. Fall is demand of both commodities
D. Nor charge
10 Labour has the following characteristics accept one.
A. It cannot be separated form labourer
B. It cannot be stored
C. Its supply cannot be increase at once
D. Bargaining power of laborer is very strong

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