Question # 1

Astory is a starting point of.

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Experimental design

Quantitative research

Scientific method

Narrative method

A shift in tastes toward Pakistan goods ______ net exports and causes the quantity of aggregate output demanded to______

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decreases ; rise

decreases ; fall

Increases ; rise

Increase ; fall

Research may be made through either arbitrary method of

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Rational method

Scientific method

Imagination method

Vague method

Which of the following is a characteristic of monopolistic competition.

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One seller serving the entire market

When each firm sells an identical product

When firms do not compete on a product quality price and marketing

When firms are free is enter and exit the market

Union of A with B is same as union of B with A, that is AUB = BUA is termed as

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Associative law of union

Cumulative law of union

Reflective law

All the above

Economics assumes that people consume goods and services to achieve.

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Status

Prestige

Utility

Self esteem

The marginal revenue curve in monopoly

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Equals the demand curve

Is a parallel with the demand curve

Lies below and converges with the demand curve

Lies below and diverges from the demeaned curve

What makes economics scientific.

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It tests theories against observations and modifies the theories if needed.

It uses numbers to measure things

It involves the use of experiments

It is a description of how thing work

A tax cut __ disposable income _____ consumption expenditure and shifts the IS curve to the.

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Increases ; increases ; right

Increases ; decreases ; left

decreases ; increases ; left

decreases ; decreases ; right

A decline in the money__________ shifts the LM curve to the ____ causing the interest rate to rise and output to fall.

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Demand ; right

demand ; left

supply ; right

supply ; left

In 1950's special imporant was given to

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Industrial sector

Services sector

Imports sector

Agricultural sector

A firm's long run average total cost lineis

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Identical to its long run marginal cost line

Also its long run supply curve

In fact the average total cost curve of the optimal plant

Tangent to all the curve of short run average total cost

Game theory

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Firm are assumed to act independently

Firms are assumed to cooperate with each other

Firm collude as part of a cartel

Firms consider the actions of others before deciding what to do.

When planned saving is greater than planned investment.

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Output should increase

Output should decrease

Output should not change

All of the above

A decrease iin money demand other thing equal shifts the _____ curve to the

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IS ; right

Is ; Left

LM ; Left

LM ; Rfight

A change in autonomous spending is represented by.

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A movement along a spending line

A shift of a spending line

A change in a behavioral coefficient.

None of these

In which of the following situations will an increase in the money supply have no effect upon equilibrium income.

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LM is steeply sloped and IS is relatively flat

LM is vertical and IS si steeply sloped

LM is steeply sloped and IS is vertical

LM is relatively flat as is IS

A meeting of persons faces to face especially for the purpose of formal conference on some point

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Interview

Participant observation

Observation

Projective techniques survey

In a free market

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Government intervene

Government plan production

Government interfere

Price adjust to reconcile scarcity and desires.

Economic development in UDCs is not possible without.

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Foreign aid

Capital formation

Natural resources

Domestic saving

In the Keynesian model short run equilibrium occurs where

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The IS and LM curves interest

The IS curve LM curve and FE lines intersect

the IS curve intersects the FE line

The LM curve intersects the FE line

Which of the following is an example of primary data.

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Book

Journal

News paper

group interview

In monopolistic competition firm sell

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Same goods

Differential goods

Inferior goods

Superior goods

What does statistics of distribution indicates.

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Consumer preference

Strength of the desire of people

Wealth of nation

Economics conditions of people

In 25 years Pakistan's Per capital income

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More than doubled

Less than doubled

Did not show more than 70% increase

None of the above

Silent spring is written by

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Spinoza

Paul Taylor

Arne Naes

Rachel Carison

The public sector includes.

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Investors owning companies

Government ownership of assets

Market forces of supply and demand

All trade via barter

When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, the long run aggregate supply curve.

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slopes upward

Sloped downward

Is vertical

Is horizontal

Profit is measured by

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Revenue - Fixed costs

Fixed cost + revenue

Revenue - sales

Revenues - total costs

In August ____ the government established a working group on private investment for the Eight Five Year plan 1993-98

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1989

1990

1991

None of these

When the price of a pizza decreased from 1200 Rupees to 1000 Rupees, it is definitely the case that the.

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Income effect means people buy less pizza

Substitution effect means people buy more pizza

Quantity demanded of pizza will not change

None of the above

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