Question # 1

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

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Multilateral contracts

Production and export controls

Buffer stock arrangements

Tariff rate quotes

The values are represented by identical symbol or pictures.

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Bar charts

Pictograms

Circle charts

graphs

According to Keynesians the primary source of business cycle fluctuation is.

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Aggregate demand shocks

Productivity shocks

Oil price shocks

Consumer confidence shocks

Exchange rate overshooting often occur because.

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Domestic prices adjust slowly to shifts in demand

Military spending increases during military's confects

Elasticities are smaller in the long run than the short run

Elasticities are smaller in the short run than the long run.

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

Production of vegetables and fruits is termed as

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Vegetative propagation

Truck forming

Both a and b

None of these

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

If injection are less than with drawls at the full employment level of national income there is.

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an inflationary gap

Equilibrium

A deflationary gap

Hyperinflation

If government tax function is T = 80 + .6 Y and the marginal propensity to consume is a constant 8 and increase in GNP of Rs.50 would cause consumption to.

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Increase by Rs.16

Decrease by Rs.16

Increase by Rs.40

Decrease by Rs.30

A change in the money supply has a greater effect upon equilibrium income.

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The more interest sensitive private sector spending is.

The less interest sensitive private sector spending is.

The smaller the expenditure multiplier is

The more interest sensitive money holdings are to the rate of interest.

The supply curve of a perfectly competitive firm

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Includes the upward sloping portion of the marginal cost

Is equal to entire margin cost

Includes the downward sloping portion of marginal cost

None of these

Direct investment and security purchases are classified as.

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Capital account transactions

Current account transactions

Unilateral transfer transactions

Merchandise trade transactions

Multinational corporations

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Always produce primary goods

Always produce manufactured goods

Products primary goods or manufactured goods

None of the above

The first step in formulating a problem is.

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Statement of the prblem

Gathering of data

Measurement

Survey

In the UK mergers can be referred to the competition commission of they create a firm with _______ of the market.

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15%

20%

25%

30%

The Laffer curve depicts

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A trade off between tax rates and government receipts

Price levels and real income

government deficits and unemployment

Tax rates and infixation

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

Quantitative characteristics includes.

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Beauty

Emotion

Intelligence

Data

The developing countries need to have a big push or big comprehensive package for economic development is the view of.

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Nurkse

M.P Todaro

Rosenstein Rodan

Leibenstein

A vertical demand curve for a particular good implies that consumers are.

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Sensitive to changes in the price of that good

Not sensitive to changes in the price of that good.

Irrational

Not interested in that good

Investment is an out stable element of aggregate demand because is depends heavily on.

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Government policy

Expectations

National income

Historic trends

Real business cycle theories suggest that _____ to correct departures from the desired growth path.

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There is a role of fiscal policy

There is a role for monetary policy

There is a role for supply side policies

There is no case for stabilizing output over the business cycle.

Under land reforms celling of land was set as 150 acres of Un irrigated land by

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Zial ul Haq

Z.A.Bhutto

Nawaz Sharif

None of these

Zakat in an important feature of Islamic economics system which is given from

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Poor to rich

Producers to consumers

Banks to people

Rich to poor

Equilibrium price is a price at which

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Quantity demanded is equal to quantity suppled

Quantity demanded minus quantity supplied is zero

quantity demanded = quantity supplied

All of these

In 1950's liberal policy was adopted regarding.

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Export

Imports

Both

Non

An increase in spending those results from expansionary _______ policy cause the interest rate to.

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fiscal ; rise

fiscal ; fall

incomes ; rise

income ; fall

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

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Voluntary unemployment

Classical unemployment

Frictional unemployment.

All of the above

A function where a variable x can only very in jumps, is often called.

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Non linear functions

Inverse function

Step function

All of above

If A is a square matrix of order ' n' and lis the unit matrix of the same order then A 1 is equal to.

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A

1A

1

Both a and b

An expansionary monetary policy

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Reduces interest rates

Increases real output

Shifts the LM curve to the right

All of the above

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