Question # 1

Finance minister tax a commodity

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having elastic demand

ignore elasticity

Having unti elastic demand

Having unit elastic demand

Following is the major source for a country to meet the deficiency of capital

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Domestic saving

Foreign aid

Domestic barrowing

All of these

The associative law of union is

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AU (BUC= (AUB)

U C

AUB = BUA

BUC = BUA

The first census in Pakistan was held in

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1948

1951

1959

1961

The difference between what consumers have to pay for a particular and what they are willing to pay is known as.

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Consumer surplus

Producer surplus

Dead weight costs

Dead weight surplus

Census is held in Pakistan after every ___ year

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5

10

15

20

i- statistical laws are not exact

ii- statistics reveals the entire story

choose the correct from the following.

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Both the statements are correct

Only the first statement is correct

Only the second statement is correct

Both the statements are wrong.

In order to maximize profits a monopoly company will produce that quantity at which the.

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Marginal revenue equals average total cost

Price equals marginal revenue

Marginal revenue equals marginal cost

total revenue equals total cost

The best measure of economic developments is.

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GNP

HDI

PQLI

None of these

If every element of a raw of column of a square matrix A is zero, then the value of the determinant. is.

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Equal

One

zero

Not equal

When a person received an increase in wealth, what is likely to happen to consumption and saving.

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Consumption increase and saving increases.

Consumption increases and saving decreases

Consumption decreases and saving increases

Consumption decreases and saving decreases

The term focused group was coined by

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Powel

Merton

Eruest Dichter

Mitchell

The appropriate expenditure switching policy to correct a balance of payments deficit is.

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Contractionary monetary policy

expansionary fiscal policy

Currency devolution

Currency revaluation

Price elasticity at a given price is not affected by.

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The price of complements

The price of substitutes

The consumer's income

A change in supply

Which policy is an expenditure switching policy.

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Increase in the money supply

Decrease in government expensitures

Increase in business and household taxes

Decrease in import tariffs

The multiplier is calculated as.

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1(1-MPC)

1/MPS

1/MPC

a or b

Ordinal measurement approach was not presented by

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Allen

Hicks

Edge worth

Robbins

In the neighborhood of the long run equilibrium of a monopolistically competitive firm average cost will be.

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Decreasing

Constant

Increasing

At a minimum

The set of all elements belonging to A but not to B is.

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B - A

A - B

A'

B'

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.

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

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Marginal costs, marginal benefits

Demand, supply

Marginal cost, marginal revenue

Marginal cost, average cost

Case study may be a source of hypothesis of.

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Future research

Research design

Content analysis

Intensive study

The total multiplier for the economy will reflect.

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MPC and MPT

MPT and MPZ

MPC and MPZ

MPC, MPT and MPZ

The single European Act committed_ governments to a ___ in 1992

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European union, single market

Western European, single currency area

European union, single currency area

Western European, single market

Investment depend mainly on.

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Past levels of income

Future expected profits

Present national income levels

Historic data

If the central Bank wished to Tighten money is would.

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Lower the discount rate

Sell government securities

Lower the legal reserve ratio

Lower the tax rate

Less Developed countries lend to have

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A high average age

A slow population growth rate

High life expectancy

A low literacy rate

If the price of an apple increased from 50 to 60 the quantity demanded will decrease because of.

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The substitution effect only

The income effect only

A change in income

The substitution and income effects.

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

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At their lowest points

When they are declining

When they are increasing.

When marginal revenue is zero

In 1950's liberal policy was adopted regarding.

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Export

Imports

Both

Non

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

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