Question # 1

The prices elasticity of demand coefficient indicates:

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Buyer responsiveness to price changes

The extent to which a demand curve shifts as incomes changes

The slope of he demand curve

How far business executive can stretch their fixed costs

Who gave the ''theory of comparative advantage''?

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Adam smith

Ricardo

Hicks

Albert Einstein

To reduce the supply of money the government could:

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Reduce interest rates

Buy back government bonds

Sell government bonds

Encourage banks to lend

The term 'Animal Spirit' was used by Keynes for?

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Consumption

Investment

Income

Interest

When did the Euro banknotes and coins start to circulated:

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January 1,2002

December 1,2001

July 1, 2002

January 1, 2003

How many stock exchanges are in Pakistan?

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2

3

4

5

An increase in aggregate demand will have most effect on prices if:

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Aggregate supply is price inelastic

Aggregate supply is price elastic

Aggregate supply has unitary price elasticity

Aggregate demand is price inelastic

Who said ''Socialism in lime a hat that has lost its shape because everybody wears it.?

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Laski

Joad

Marx

Gandhi

Economic development

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The same as economic growth

Means improvement in lifestyle

Exists when there is equal distribution of income

All of the above

When a firm is maximizing profit it will necessarily be:

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Maximizing profit per unit of ouput

Maximizing the difference between total revenue and total cost

Minimizing total cost

Maximizing total revenue

A written promise to reply the amount borrowed at a later date?

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Bond

Bankruptcy

Principal

interest

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