Question # 1

A shift in supply will have a bigger effect on price than output if demand is.

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Income elastic

Income inelastic

Price elastic

Price inelastic

Human capital can be described as.

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The tools used by workers to entrances productivity

a persons inherited abilities.

The stock of expertise accumulated by a worker

Education

Perfect competition implies

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Homogeneous goods

Inferior goods

Superiors goods

Differential goods

National Income account of Pakistan have registered GDP & GNP as.

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GDP = GNP

GDP < GNP

GDP > GNP

GDP / GNP

Which among the following is a material for statics.

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Honesty

Poverty

Wisdom

Numerical data

Given the demand and supply cautions qo = -8p + 2000 and qs = 12 p - 200 respectively the equilibrium price.

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p = 100

p = 110

p = 120

p = 140

If two sets contains the same number of distinct elements but not the same elements are called.

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Pie diagram

Venn diagrams

Histogram

Ogives

John Stuart Mill was the founder of the

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Theory of reciprocal demand

Theory of absolute advantage

Theory of comparative advantage

Theory of mercantilism

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

Qualitative research focuses primarily on the meaning of.

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Subjective attributes of individuals groups

Objective attributes of individuals or groups

Facts of Indi duals or groups

Descriptive attributes of individuals or groups

A decline expected future output would cause the IS curve to.

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Shift up and to the right

Shift down and to the left

Remain unchanged

shift up and to the right only if people face borrowing constratints.

In perfect competition.

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the products firm offer are very similar

Products are heavily differentiated

A few firms dominate the market

Consumers have limited information

Yin has defined case study is investigating the contemporary phenomena of.

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Natural

Real life

Inexplicable

Explainable

As a result of the increase in government expenditures disposable income increases by.

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Rs.10 billion

Rs.9 billion

Rs.20 billion

Rs.5 billion

If A and B are symmetric matrices, then A +B is

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Symmetric

Non symmetric

Skew symmetric

Non skew symmetric

Law of variable proportion sis applicable in.

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Short run

Long run

Anytime

Fore ever

The opportunity cost of a student is.

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Course fees and rent

A loan from the bank

What the student could have earned in the best job available by not studying.

What the student will earn after graduation.

Oligopoly is a market structure in which

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Many firms each produce a slightly differentiated product

One firm produces as unique product

A small number of firms compete

Many firms produce an identical product

Capitalism refers to

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the use of markets

Government ownership fo capital goods

Private ownership of capital goods

Private ownership of homes and cars

If the nominal money supply doubles while real money demand is unchanged what happens to the price level.

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The price level increases by a factor of four

The price level doubles

The price level is unchanged

The price level falls by one half.

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

Social science research is a systematic method o exploring, analyzing and extend, corrector or verify knowledge of human behavior and.

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Aqua life

Natural life

Social life

Envioment

An Engel curve is based on which one of the following assumptions.

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Constant prices, very incomes

Constant price, constant income

Constant incomes, varying prices

None of these

An oligopolistic industry can be characterized by all of the following except

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May sellers

mutual interdependence

Economies of scale

A homogenous product

All of the following are types of imperfect competition except

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Monopolistic competition

Oligopoly

Monopoly

Unfair competition

The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.

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2%

3%

7%

4%

Marginal utility is equal to average utility at that time when average utility is.

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Increasing

Maximum

Falling

Minimum

The key feature of oligopoly is.

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Excess capacity

High profitability

Product differentiation

Interdependence of firms

Agricultural Development Finance Corporation was created in _____ under a central Act for the purpose of expanding financial facilities and promoting the development and modernization of agriculture in Pakistan.

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1950

1951

1952

1953

Which does the government not control directly.

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Spending on health

spending on defense

Firm's investment decisions

spending on education

What is the per unit marginal cost of increasing production from 20 to 25 units.

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Rs. 3,500

Rs.100

Rs.4,000

Rs.500

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