Question # 1

Real GNP measures income

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Including non market activities

Adjusted for inflation

Including externalities

Including tax evasion

When planned saving is greater than planned investment.

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Output should increase

Output should decrease

Output should not change

All of the above

Which among the following is the sensible theory of sampling.

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Induction

Inertia

Regularity

None of the above

Monetary policy is concerned with influencing.

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The general level of money wages

The level of government expenditure

The price and availability of money

The level of shares on the stock market

Usury is prohibited in

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Islam only

Sikhism only

Jewism

Both a and b

Contextual analysis is a type of

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Descriptive analysis

Historical analysis

Case study

Content analysis

If my neighbor burns garden waste causing my house to fil with smoke this is an example of.

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A production extremality

A second best solution

Transaction costs

A consumption externality

The ethics, importance is given tobio sphere and the large eco system.

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Life centered animal

Ecological holism

Environmental

animal

The set of subsets of a set A is called.

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Power set of A

Complement of A

Both a and b

None of these

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

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An import subsidy

A quota

Comparative advantage

An export subsidy

Economic growth may depend upon __________ and_________

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Population size , x -efficiency

Population age distribution, education

Population growth, education

Population growth, technical progress

Which of the following strategies have developing countries not used to deal with the problem of unstable expert markets.

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Multilateral contracts

Production and export controls

Buffer stock arrangements

Tariff rate quotes

Which of the following is not likely to be a government objective.

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Increasing employment

Increasing economic growth

Increasing government spending

Increasing the level of exports

"An Enquiry into the Nature and causes of wealth of Nations" is thebook of economist.

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Adam smith

Marshall

Robbins

None of above

In monopolistic competition, firms desire to sell more output at equilibrium because.

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Price is greater than average cost

Price is greater than average variable cost

Price is greater than marginal cost

Price is equal to marginal revenue

When capital mobility is perfect, interest rate differentials will tend to be offset by

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Price differences.

Balance of payments differences.

Current account differences.

Expected exchange rate changes

In autarky when a community maximizes its standard of living its production points is.

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Below the production possibility frontier

On the production possibility frontier

Above the production possibility frontier

Can't tell without more information.

The value of an asset depends upon

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Its scrap value

Its depreciation

The present value of the failure stream of income it can earn.

the cost of loans

Direct investment and security purchase are classified as.

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Capital account transactions

Current account transactions

Unilateral transfer transactions

Merchandise trade transactions

A concept which can take on different quantitative values is called a.

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Variables

Control groups

Values

paradigm

If injections are greater than withdrawals.

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National income will increase

National income will decrease

National income will stay in equilibrium

Price will fall

International trade forces domestic firms to become more completive in terms of.

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The introduction of new products

Product design and quality

Product price

All of the above

Market failure may arise because of.

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Imperfect competition

Taxation

Externalities

All of the above

According to Islamic economic system the producers can earn.

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Normal loss only

Normal profit only

Abnormal loss

Abnormal profit

Exchange rates that are determined by the unregulated forces of supply and demand are.

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Floating exchange rates

Pegged exchange rates

Fixed exchange rate

Managed exchange rates

An autonomous increase in the value of the domestic exchange rate.

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Increases output net exports and the interest rate.

Decreases output net exports and the interest rate

Decreases output and net exports and increases the interest rate.

Increase output and decreases net exports and the interest rate.

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

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Efficient scale

Average efficient scale

Maximum efficient scale

Minimum efficient scale

If the price elasticity is -0.3 this means.

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Demand is upward sloping

Demand is price elastic

A price fall would increase revenue

Demand is price inelastic

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

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Money supply targets

Income policy

Interest rates

Inflation targets

The Philips curve shows the relationship between inflation and what?

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The balance of trade

The rate of growth in an economy

The rate of price increases

Un employment

International trade is based on the idea that.

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Exports should exceed imports

Imports a should exceed exports

Resources are more mobile internationally than are goods

Resources are less mobile internationally than are goods.

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