Question # 1

According to the law of diminishing utility:

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Utility is a maximum whit the first unit

Increase units of consumption increase the marginal utility

Marginal product will fall as more units are consumed

Total utility will rise at a falling rate as more units are consumed

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

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Adam smith

Ricardo

Hicks

Albert Einstein

What is the single most important factor that makes the markets works?

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Money

Alan Greenspan

Markets don't works

Greed

The public sector includes:

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Investors owing companies

Government ownerships of assets

Market forces of supply of and demand

All trade via barter

The reserves of a commercial bank consist of:

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The amount of money market funds it holds.

Deposits at the Federal Reserve Bank and vault cash

Government bonds which the bank holds

The bank's net worth.

In traditional economic theory four types of markets are identified. Which of the following is not one of them?

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Capital Control Market

Monopoly

Monopolistic Competition

Oligopoly

Pakistan started its first five-year plan in

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1947

1950

1955

1960

A theory who stresses the rule of law is:

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Regulative law

Totalitarianism

Liberalism

None of these

Land is the only factor of production whose supply is?

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More Elastic

Perfectly Elastic

Perfectly Inelastic

Unitary Elastic

Which of the following is not a macroeconomic issue?

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Unemployment

Inflation

The wages paid to footballers

Economic growth

The former policy of the south African government designed to Maintain the separation of Blacks and other non-Whites form the dominant whites is called:

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Alienation

Apartheid

Closed system

Control group

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