Question # 1

A statistic in inferential statistics is related to which of the following.

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Sample

Population

Botha a and b

None of these

Classical design is a type of

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Basic research

Applied research

Action research

Exploratory research

Loss must be shared according to ratio of respective investment in case of.

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Musharika

Hire purchase

Mudaraba

All of these

A tax 15 percent per imported item would be an example of a

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Ad valorem tariff

specific tariff

Effective tariff

Compound tariff

If tastes are identical between countries then comparative advantage is determined by

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Supply conditions only

Demand conditions only

Supply and demand conditions

Can't tell without more information.

If saving rate is 12.0% , ICOR value is 3% and population Rate is 2.0% then the Growth Rate would be.

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2.0%

3.65

4.0%

6.0%

If there is a prices celling, which of the following is NOT likely to occur.

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Rationing by first come first served

Black markets

Gray markets

Sellers providing goods for free that were formerly not free

The monetary base in composed of.

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Gold and silver

Currency only

Currency and reserves

Currency and checkable deposits

A monolithically competitive market is characterized by all of the following except.

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Easy entry

Differentiated product

Excess capacity

Economic profit in the long run

When the marginal propensity to consume is 0.75 the multiplier has a value of.

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4

5

3

2

The negative relation ship between unemployment and inflation is know as the

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Aggregate supply curve

Aggregate demand curve

Philipps curve

Efficiency wage line

A fall in interest rates is likely to

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Increase aggregate demand

Increase savings

Decrease consumption

Decrease exports

Which among the following is not a merit of the census method.

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Results are representative

Information on rare events

Result are reliable

In appropriate method for enumeration

The ____ lag for fiscal policy is generally _____ than it is for monetary policy.

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Recognition ; shorter

Recognition ; longer

Implementation ; shorter

Implementation ; longer

As the MPS increases, the multiplier will

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Increase

Either increase or decrease depending on the size of the change in investment

Remain constant

Decrease

Revealed preference theory was presented by.

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Samuelson

Hicks

Marshall

rICARDO

Rate of growth of an economy is measured in terms of

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Per capita income

industrial development

Number of people who have been lifted above the poverty line

National income

A monopsony is

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The scale supplier of an input

The scale supplier of an output

The sole buyer of some type of input

A unionized industry

Quality controlleers at the LMN corporation formulate the null hypothesis that the proportion of defective items in the production line is 10% they reject this hypothesis when they find 12 defective items in 100. If the defective rate is really 10% What type of error did they make.

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Standard error of the mean

A type II error

A type I error

The error probability

Scarcity means that

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We cannot have everything that we might want

We have to make choices between the things we desire.

There are costs to just about any activity we undertake

We must give up some thing in order to obtain other things.

All of the above are correct

In long run equilibrium a monopolistically competitive firm will find.

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Marginal cost below average total cost

Marginal cost wqual to minimum average total cost

Both a and b

Neither a nor b

The supply of foreign currency tends to be

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upward sloping

down ward sloping

Vertical

any of the above

Saving means

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Part of income for investment

Income for boarding

Non consumption of income in the current period

None of the above

The equilibrium inflation rate is determine by the intersection of __________ and ___

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demand, supply

IS , LM

AD, AS

Labour demand, labour supply

In the long run a profit maximizing firm will choose to exit a market when

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Fixed costs exceed total costs

Total revenue from production is less than total costs

Average fixed cost is rising.

Marginal cost exceeds marginal revenue at the current level of production.

The equation for the IS curve is.

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Y = 55 - 50 i

Y = 175 - 75 i

Y = 300 - 100 i

Y = 275 - 25 i

Comparative advantage is determined by

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Actual difference in labor productivity between countries.

Relative difference in labor productivity between countries.

both a and b

Neither a and b

When one country provides most favored nation status for another if agrees to.

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Change that nation's product a lower tariff than any other nations

Charge that nation's products a tariff rate no higher than that on any other nation.

Charge that nation's products a higher tariff than any other nation's

Export to that nation any products that it wants to purchase

The relation ship between the exchange rate and the prices of tradable goods is known as the.

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Purchasing power parity theory

Asset markets theory

Monetary theory

Balance of payments theory

In 1992 foreign currency accounts were frozen due to economic sanctions imposed due to.

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a civil war

Law and order situation

Nuclear test

Social problems

If a monopolist's has only fixed costs and chooses that output at which marginal cost equals price. it will

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Earn positive economic profits

Earn zero economic profits

Incur a loss equal to its variable costs

Incur a loss equal to its fixed costs

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