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

Suppose an individual spends all his income on only two goods, good X and good Y moreover suppose that you were asked to derive his price consumption curve for good Y Which of the following would be allowed to very.

Question # 2

Immediately after a through we would expect to have al

Question # 3

Which of the following is a function of money

Question # 4

A monolithically competitive market is characterized by all of the following except.

Question # 5

Which of the following is a characteristic of monopolistic competition.

Question # 6

If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.

Question # 7

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

Question # 8

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 # 9

If the monopolist maximizes profits when marginal revenue equals marginal cost equals average cost economic profits must be.

Question # 10

Which of the following is a characteristics of monopolistic competition.

Question # 11

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

Question # 12

Micro economics is the study of.

Question # 13

Which of the following taxes is regressive

Question # 14

The total utility of the third unit of product x is.

Question # 15

Everyone's absolute income doubles family A's APC, according to the simple Keynesian consumption function is expected to.

Question # 16

In monopoly the firm can

Question # 17

Elasticity of demand of luxurious goods is always more elastic

Question # 18

Price discrimination occurs when

Question # 19

Economists tend to disagree primarily about.

Question # 20

Oligopoly is a market structure in which

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 A production possibilities curve indicates that when resources are being used efficiently
A. More of one good cna be produced only if less of another good is produced
B. More of one good can be produced only if its price is lowered
C. Producing more of one good result in greater production of other goods
D. More of one good can be product without producing less of other goods
2 How much will a speculator invest now if he expects to earn Rs. 144 two years from now assuming the nominal rate of interest is 20%
A. Rs.1654.29
B. Rs.100.00
C. Rs.94.00
D. Rs.68.00
3 The classical are of the view that utility can be.
A. Ranked
B. Counted
C. Expressed in numbers
D. Not counted
4 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
5 Goods which can be consume directly are
A. Producer goods
B. Consumer goods
C. Free goods
D. Economics goods
6 The price of salsa rises, How does the increase in the price of salsa affect the supply of salsa.
A. The supply of salsa increases
B. The supply of salsa decreases
C. There is no change to either the supply of salsa or the quantity supplied of salsa
D. There is no change to the supply of salsa but the quantity supplied of salsa increases
7 An exceptional demand curve is.
A. Vertical
B. Horizontal
C. Downward sloping
D. Positive slope
8 The "compensated" demand curve is the demand curve that.
A. Shows only the income effect
B. Shows only the substitution effect
C. Shows both the income and substitution effects
D. Shows the Geffen good demand curve
9 If a person's MPC is always two thirds and that person's break even point is Rs. 6,000, at a disposable income of Rs.9,000 the person's consumption expenditures will be.
A. Rs. 8,000
B. Rs. 5,000
C. Rs.6,000
D. Rs.7500
10 In a typical cartel agreement the cartel maximizes profit when it.
A. Behaves like a monopoly
B. Behaves like a perfectly competitive firm
C. Behaves like a duopoly
D. Is flexible in enforcing production targets

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