Question # 1

"Zakat" is a charity on.

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Wealth / income which stays with a Muslim for at least one year

Levied on a Muslim who is sahib e Nisab

Deducted at the rate of 2.5% of the income

All of the above

The Eco is a word derived from

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Philo

Economy

Oikos

None of these

To maximize sales revenue a firm should produce where

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Marginal cost is zero

Marginal revenue is maximized

Marginal revenue is zero

Marginal revenue equals marginal cost

'Equal chance of being included in the sample", about what does Dr. Yates and Harper defined like this.

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Stratified sampling

Probability sampling

Proportional sampling

None of these

A Political problem with discretionary fiscal policy is the.

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Contractionary bias

Big state bias

Expansionary bias

Over reaction bias

In economics, the term 'scarcity' refers to the fact that

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Everything worthwhile costs money

No society is able to produce enough to fully satisfy the desires of people for goods.

Even in wealthy societies, like the united states, some people are poor

sometimes shortages of product result if its price is set too low.

In any urban are there are people who have had healed wounds

A country transactions with the rest of the world are recorded in the

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Balance of international indebtedness

Balance of financial transactions

Balance of payments

Income statement

An ethics that treats only humans as morally considerable is called.

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Holism

Eco centrism

Anthropocentrism

None of these

A decrease in the effective tax rate on capital would cause the IS curve to.

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Shift up and to the right

shift down and to the left

Remain unchanged

Remain unchanged if taxes are fully deducible from income otherwise, shift up and to the right

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

An increase in the price of a complement or produce.A would.

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Shift demand for product a out wants

Shift demand for product A inwards

shift supply for product A out wards

Shift supply for product A inwards

If matrix A is of m x n dimension, then A will be

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n x m dimension

m x n dimension

n x p dimension

m x m dimension

Finding a partner to work with abroad is called a.

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Takeover

Merger

Acquisition

Joint venture

A set totality of elements from all possible sets is called.

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Union set

Intersection set

Universal set

Unit set

As the interest sensitivity of money demand increases

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The multiplier term increases

Fiscal policy has a greater effect on output

Monetary policy has a smaller effect on output

All of the above

The Human Development index is based on.

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Income per capita human capita economic vulnerability

Income per capita, life expectancy education

Income per capita child mortality rates education.

Income per capita life expectancy economic vulnerability

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

Which of the following is a policy instrument .as opposed to a government objective.

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Lower interest rates

A better balance of trade position

Faster economic growth

Lower un employment

A change that increases the real money supply relative to real money demand causes.

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The LM curve to shift down and to the right.

The LM curve to shift up and to the left

The IS curve to shift down and to the left

The IS curve to shift up and to the right.

In perfect price discrimination

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Consumer surplus is maximized

Produce surplus is zero

Community surplus is maximized

Consumer surplus is zero

A question which requires a solution is.

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Observation

Problem

Data

Experiment

The word economics derives from an early Greek term that means management of a.

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Business

Government

House hold

Financial institution

If a small country imposes a tariff on an imported goods terms of trade will

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Improve

worsen

Not change

any of the above

When all of the debit or credit items in the balance of payments are combined

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Merchandise imports equal merchandise exports

Capital imports equal capital exports

Services exports equal service imports

the total surplus or deficit equals zero

Disposable income is obtained by subtracting ________ taxes from personal income

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Indirect taxes

Direct taxes

Subsidies

None

A decline in planned investment spending unrelated to the interest rate focuses the equilibrium level of aggregate output to ________ and shifts the _ curve to the _______

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rise; Lm ; RIGHT

RISE ; is; right

fall ; IS; Left

rise ; LM; left

In autarky equilibrium.

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Production equals consumption

Export equal inmprts

There is no trade

All of the above

As the economy nears full capacity the short run aggregate supply curve

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Stagflation

Structural inflation

Demand side inflation

Supply side inflation

In an economy experience high interest rates and high unemployment The ISLM frame work predicts that _________ policy has been too.

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fiscal ; expansionary

fiscal ; contractionary

monetary ; expansionary

monetary ; contractionary

In _________ the government replaced the development board with a new autonomous body called the planning board.

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1951

1952

1953

none of the above

All of the following are credit items in the balance of payments except.

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Investment inflows

Merchandise exports

Payment for American service's to foreigners

Private give to foreign residents

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