Question # 1

The proportion of rural population in Pakistan is:

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68%

70%

72%

74%

y = 2^x is a.

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Log function

Linear equation

Exponential function

Increasing function

In case of perfect competition in the market

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marginal revenue curve always slopes upward

marginal revenue curve always slopes downward

marginal revenue is always equal to average revenue

marginal revenue is always less than to average revenue

Members of a public limited company are elected by.

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Directors

Government

Financial institutions

Share holders

If Bali burgers find that their MC of burgers is less than MR they would try to

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expand business

reduce business

continue as before

close business

Elasticity of a demand for product will be greater then unity if, with a fall in its price, total expenditure of consumer.

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Increase

Falls

Remains the same

None of the three

Law of diminishing returns applies more in:

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Industry

Agriculture

Mining

Construction

What best explains a shift in market supply curve to the right?

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an advertising campaign is successful in promoting the good

a new technique makes it cheaper to produce the good

the government introduces a tax on the good

the price of raw materials increases

Which laws are always subjected to certain conditions.

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Social

Political

Moral

Economic

The supply of labour is based on the trade off between leisure and

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wealth

work

wages

price of product

Interest is paid because

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capital is scarce

capital is productive

capital is attractive

a and b of above

Marginal land

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is uncultivable land

gets low rent

gets no rent

cannot be sold

Robbins in his definition

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talks of scarcity of resources

preached moral values

supports Adam smith view

none of the above

Long run average cost curve is :

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U shaped

L shaped

Dish shaped

None of the three

Which of the following is a producer good

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pen

cycle

mobile phone

hammer

When both demand and supply fall in equal proportions, price of the product will .

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Fall

Rise

Remain the same

None of the above

Marginal product indicates rate of change of

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total product

average product

variable product

all of the above

A firm attains equilibrium under monopoly if:

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MC curve intersect MR curve from below. MC = AC = MR

MC curve intersects MR from above

Any one of the above situations

AR = MR

How many types of organization

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5

6

7

8

Which type of problems are brought under discussion in micro economics .

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Consumer's behaviour

International trade

Balance of payment

Public finance

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