Question # 1

When a bank loan is repaid the supply of money:

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Is constant but its composition will have changed

Is decreased

Is increased

May either increase or decrease

Utility means:

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Power to satisfy a want

Usefulness

Willingness of a person

Harmfulnes

Who describes the pressure groups as the Third House of he Legislature?

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Lord Bryce

H,M Finer

G, D. H. Cole

Dicey

Reducing inflation is a more important objective than economic growth is an example of:

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Normative economics

Positive economics

Objective economics

Reality economics

Process of economic development means:

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Economic change

Social change

Ethical, institutional and cultural change

All of these

For a perfectly competitive firm:

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Price equals marginal revenue

Price is greater than marginal revenue

Price equals total revenue

Price equals total cost

In the world population-wise Pakistan is

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3rd

4th

6th

8th

Ina parliamentary form of government minsters are appointed by:

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The head of he state at his discretion

The head of the government

The legislature

the head of he state on the recommendation of the head of the government

Economic development is measured on the basis of

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Increase in nominal GNP

Increase in real GNP

Increase in personal incomes

Increase in government revenue

The unproductive expenditure of the rich is Necessary to the employment of the poor:

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An impediment to the growth of an economy

Having no bearing on the economy of the rich

Having no bearing on the economy

having bearing only on the economy of the rich

Marginal utility is equal to average utility at that time when average utility is:

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Increasing

Maximum

Falling

Minimum

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