Question # 1

Marginal cost is the change is cost the result from a one unit increase in.

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Price

Cost

Output

Revenue

The hidden momentum of population growth is caused by

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the demographic transition

Population age structure

the opportunity coast of woman's time

Children contribution to income

Full- employment output is the level of output that firms in the economy supply when

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Taxes are zero

Wages and prices have fully adjusted

The unemployment rate in zero

All capital is fully utilized

An increase labor supply 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 constraints

A firm charges Rs. 800 for its unique word processor. If total revenue is Rs. 56,000 in July, how many word processor were sold that month.

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70

95

700

800

Ad valorem tariffs are collected as.

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A percentage of the price of the product

A percentage of the quantity of imports

All of the above

Fixed amounts of money per unit traded

To be allocatively efficient ta firm must produce where

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the total cost equals demand

the average revenue equals the marginal revenue

The price equals the average cost

The price equals the marginal cost

An increase in aggregate demand if aggregate supply is totally inelastic will.

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Increase price but not output

Increase output but not price

Increase out put and price

Decrease output and price

A bank has excess liquidity reserves to lend but is unable to find a willing borrower these will_______ the size of the money multiplier.

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Reduce

Increase

Have no effect on

Double

By controlling the monetary base economists mean

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Controlling the money multiplier

Restricting the amount of cash in circulation

Not allowing commercial banks to issue notes and coins

making banks keep a certain % of their assets as M0

The very word statistics refers to.

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State craft

Science of state

Political state

Political craft

The regression results indicate that the standard error of estimate is.

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135.94

16.06

28.98

4.27

The profit per scale is a measure of.

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Profit

Profitability

Feasibility

Realism

If the fprice in a market is fixed by the government below equilibrium.

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There is excess equilibrium

There is excess supply

There is excess demand

There is equilibrium

A monolithically competitive market is characterized by all of the following except.

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Easy entry

Differentiated product

Excess capacity

Economic profit in the long run

Capital goods are

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A type of intermediate good

Final goods, because they are not used up during a given year

Produced in the same year as the related final good whereas intermediate goods are produced in different years.

Produced in one year whereas final goods are produced over a period of more than one year

The money multiplier is 4, and the money creating potential of the banking system is Rs. 40,000,000. The legal reserve ratio and the excess reserves are.

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40 percent and Rs. 4,000,000

40 percent and Rs. 10,000,000

25 percent and Rs. 2.500,000

25 percent and Rs.10,000,000

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

The neoclassical theory of growth identities the steady state rate of growth as the _________ just sufficient to keep _______ constant while labour grows.

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Saving investment

Capital per person productivity

Labour growth , output

Investment capital per person

A system of systematically interrelated concepts, definitions and propositions that are devanced to explain and predict phenomena define dby

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Jack gibbs

PV Young

Black

Roae Arnold

In the labor market if the government imposes a minimum wage that is below the equilibrium wage then.

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Workers who wish to work at the minimum wage will have a difficult time finding jobs.

Firms will hire fewer workers than without the minimum wage law.

Some workers may lose their jobs as a result

Nothing will happen to the wage rate or employment

If the price elasticity of demand for a non giffen good is inelastic are decreased in its price result in.

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Increase in demand

Decrease in demand

Increase in total revenue

Decrease in total revenue

The average total cost when 20 units of output are produced is

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Rs. 2,900

Rs.195

Rs. 20

Rs.900

Which of the following is not one of the basic economic questions.

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What is produce

Who to produce for

How to produce

How to maximize economic growth

A decrease in fully autonomous investment other things equal shifts the ______ curve to the

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IS ; right

IS ; Left

LM ; Left

LM ; right

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

According to the balances growth theory

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UDCs can be developed by foreign aid

UDCs can be developed by national saving

UDCs have to start from beginning

DCS are responsible for the development of UDCs

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

Debt repayment defense spending and general administrative expenditures consume ___ of Pakistan's annual budget.

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60 percent

65 percent

70 percent

80 percent

What technical terminology do economists use to refer to how much the money will multiply as this process unfolds.

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The multiplier

The money multiplier

Required reserve ratio

Open market operations

Who among the following is a proponent of bio centrism

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Aido Leopoid

Arne Naess

Paul Taylor

None of these

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