Question # 1

Skills that cna be transferred to other employers are called.

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General skills

Specific skills

Non pecuniary skills

All of the above

If there is a price celling, there will be.

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Shortages

surpluses

Equilibrium

None of these

In pure competition.

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Strong rivaled exist

Cartels are formed

Both a and b

None of thes

A decrease in lump sum taxes is an examples of.

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Contractionary fiscal policy

Expansionary fiscal policy

A change in induced taxes

A and c

If in market the seller is changing different prices for the same commodity from different consumers it is known as.

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Price discrimination

efficient selling

Profit maxi miser in Monopoly

all of these

Which industrialization policy have developing countries used which places emphasis on the comparative advantage principle as agued rto resource allocation.

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Export promotion

Import substitution

International commodity agreements

Multiateral contracts

Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is

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Positive

Negative

Infinite

None of these

The larger the required reserve ratio the.

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Smaller is the deposit multiplier

Larger is the deposit multitier

Larger is the amount of total deposits that can created from a new deposit

Larger is the amount of total money that can be created from a withdrawal

Health of a country's economy is indicated by

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Number of doctors per 1,000 population

Per capital income

Literacy rate

None of the above

A depreciation of the dollar will have its most pronounced impact on imports if the demand for. Imports is.

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Constant

Inelastic

Elastic

Unitary elastic

Which of the following is often considered to be inconsistent with the notion of perfect competition.

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Large number of firms

Free entry

Complete mobility

None of these

A firm can fund an investment from its own sources, the opportunity cost of its investment is

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Less than zero

Zero

More than zero

Neither

Similar to import tariffs, import quotas tend to result in.

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Higher prices and reduced imports

Increasesed government revenue

Increased consumer surplus

Decrease producer surplus

Which provides the best explanation of the failure of many poor countries to experience economic growth as rapid as the rich countries..

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Classical growth theory

Neoclassical growth theory

New growth theory

Market failure

The Hocksher Ohlin model rules out the classical model's basis for trade by assuming that. _______ is identical between countries.

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Factor endowments

Factor intensities

Technology

Opportunity costs

Indifference curves shows various combinations of.

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One commodity

Two

Three

All of these

The largest trading partner of Pakistan is

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Italy

US

USA

None of these

Which of the following would most likely shift the production possibilities curve for a nation outward.

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A reduction in unemployment

An increases in the production of capital goods

A reduction in discrimination

An increase in the production of consumer goods

When unintended investment is positive

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Output tends to rise

Output tends to fall

Output is in equilibrium

None of these

The warfare effect of a quota depend to a considerable extent upon.

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Who has the quota license

The size of the quota

Elasticities of domestic demand and supply

All of the above

The production function will be affected by changes in the prices of.

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Inputs

Outputs

Neither

All of the above

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