Question # 1

What is the share of Urban Population in the total population of Pakistan.

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38.6%

42.6%

41.0%

32.5%

Which of the following characteristics if Islamic economic system is true

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An Islamic state is essentially a welfare state.

Ensure social justice

All economic problems are solved in the light of moral values

All of the above

increase foreign competition tend to.

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Intensify inflationary pressure at home

Induce falling output per worker hour for domestic workers

Place constraints on the wages of domestic workers

Increase profits of domestic import competing industries.

An increase in money _______ shifts the LM curve to the _____ causing the interest rate to fall and output to rise

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demand ; right

demand ; left

supply ; right

supply ; left

An optimal tariff is one which reduces imports to the level at which ___ equals

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imports , exports

The balance of trade, zero

The demand for currency, the supply of currency

Social marginal cost social marginal benefit

Which of the following causes M1 demand to decrease.

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A fall in the tax rate

An increase in income

A fall in the interest rate

An increase in the use of credit cards

In perfect competition price is settled by

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Sellers

Buyers

Producers

Both a and b

____________ represents the difference between what consumers have to pay for a product and what they are willing and able to pay.

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Producer surplus

Deadweight surplus

Government surplus

Consumer surplus

Total utility of a commodity is measured by which price of that commodity.

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Value in use.

Value in exchange

Both of above

None of above

A consumer is said to be in equilibrium when the marginla utility and price of a commodity

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More

Less

Irrelevant

Equal

The major source of revenue for the government is.

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the collection of property taxes

The collection of the corporates income tax

The collection of excise taxes on gasoline cigarettes and tires

The collection of import and export duties in the conduct of foreign trade

The extent of variability is measured by

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Central tendency

Measures of dispersion

Arithmetic mean

Co relation

The fundamental economics problem faced by all societies is

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Un employment

In equality

Poverty

Scarcity

A determinant compose of all the second order partial derivatives, with the second order direct partials on the principal diagonal and the second order cross partials off the principal diagonal and which is used to second order condition of optimization is called.

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Jacobian determinant

Hessian determinant

Discriminant

None of these

If the foreign interest rate is 12% while the domestic interest rate in 95 then the forward premium will be.

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1.3 %

12%

9%

3%

What tow factors should you equate in deciding how many workers to employ.

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The marginal product of labor and the marginal product of capital

The marginal product of labor and the real wage rate

The marginal product of labor and the real interest rate

The marginal product of capital and the real wage rate

For a positively skewed distribution.

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mean > mode ? median

mean > median > mode

mode > mean > median

mean < mode < median

If the autarky price of S were lower in country A than in country B, then if trade were allowed.

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A would likely exports s to B

A would likely import s from B

Neither country would want to trade

None of the above

The goal of a pure market economy is to best meet the desires of.

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Consumers

Companies

Workers

The government

In the Keynesian cross diagram a decrease in investment spending because companies become more pessimistic about investment profitability causes the aggregate demand function to shift ______ and the equilibrium level of aggregate output to ______

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up ; rise

up ; fall

down ;rise

down ; fall

The overall Budget Deficit is financed from

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External borrowing

Non bank borrowing domestically

Bank borrowing plus the above two at a and b

None of the above

(A+B) = (B+A) this law of matrices is known as.

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Cumulative law

Associative law

Distributive law

Identity law

There are ______ methods of measuring GDP

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Three

Four

Five

None

According to budget 2012-13, Pakistan repays____ of loans to IMF

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$ 1.8 Billon

$ 1.2 billion

$ 1.6 billion

None of these

Real business cycle theorists think that most business cycle fluctuations are caused by shocks to.

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The production function

The size of the labor force

The real quantity of government purchases

The spending and saving decisions of consumers

What is the significance of underestimating transactions money.

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Monetary policy will be over simulating the economy

Monetary policy will be putting a drag on the economy

there is a need for money that the central bank should be meating.

The economy has too much money and there frore not enough spending.

The equilibrium level of employment achieved after the complete adjustment of wages and prices, is known as the.

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Zero unemployment level of employment

Natural state

Invisible handshake

Full employment level of employment

A production possibilities curve indicates that when resources are being used efficiently

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More of one good cna be produced only if less of another good is produced

More of one good can be produced only if its price is lowered

Producing more of one good result in greater production of other goods

More of one good can be product without producing less of other goods

In case of complimentary goods, if the price of one commodity falls there will be.

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Rise in demand of other commodity

Fall in demand of other commodity

Fall is demand of both commodities

Nor charge

Which of the following is a NOT component of M-2.

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Small time deposited

Money market mutual funds

Stocks

Checkable deposits

If GNP = 1,000 billion and the money supply is 330 billion , then the velocity of money is.

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A value less than 1.4

3.33

1.48

3.03

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