Question # 1

A activates which do not promote human welfare cannot be encouraged.

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Western estate

Police state

Islamic estate

None Islamic estate

Which of the following is a reason for misuse of statistics.

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data can be manipulated

Figures are convincing

Figures can be used to mislead readers

All of the above

Logical rezoning process consists of induction and

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Generalization

Deduction

Verifiability

Observation

Division of labor is made according to the size of market is the view of

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M.P.Todaro

Leibstein

Rostow

Adam smith

Domestic borrowing includes the government borrowing through

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National saving center

Commercial banks

State Bank

All of these

If a price floor of Rs.15 is imposed, the governments cost is.

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Rs.150

Rs.300

Rs.750

Rs.450

Drawing conclusion from the data collected is called.

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Analysis

Organization

Tabulation

Interpretation

In the ISLM framework the decreasing investment spending believed by Keynes to be the cause of the Great Depression would be illustrated by a shift of the ____ curve to the.

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IS ;right

IS ;Left

LM ; Left

LM ; Right

Which exchange rate mechanism calls for frequent redefining of the par value by small amounts to remove payments disequilibrium.

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Dual exchange rates

Adjustable pegged exchange rates

Managed floating exchange rates

Crawling pegged exchange rates.

Which of the following would qualify as an aggregate supply shock.

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An unexpected increase in oil prices

Seasonally expected increase in oil prices

An unexpected reduction in consumer confidence

an anticipated tax cut

A sudden shift from import tariffs to free trade may induce short term unemployment in.

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Import competing industries

Industries that are only exporters

Industries that sell domestically as well as export

Industries that neither import nor export

A nation experience external balance if it achieves.

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No net changes in its international gold stocks

Productivity levels equal to those of its trading partners

An increases in its money supply equal to increases overseas

Equilibrium in its balance of payments

If the State bank of Pakistan wished to pursue a light monetary policy it would.

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Lower the required reserve ratio and the statutory liquidity ratio.

Lower interest rates

Buy government securities on the open market

Sell government securities on the open market

According to factor price equalization theorem the ______ factor should oppose free trade policies in any given country.

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Abundant

Scarce

Neither

Can't tell without more information

Menu costs in relation to inflation refer to

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Costs of finding better rates of return

Costs of altering price lists

Costs of money increasing its value

Costs of revaluing the currency

In the efficiency wage model if the real wage is higher than the market clearing wage so that there in an excess supply of labor.

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Firms will hire new workers at lower wages

Firms will replace high paid workers with low paid formerly unemployed workers

Employers will not hire workers who are willing to work for a lower wage.

Firms will demand a higher level of effort from existing employees

If one car company takes over another car company this is an example of which type of integration.

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Vertical

Horizontal

Conglomerate

Literal

Following banks were again privatized by Nawaz Sharif

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Allied Bank

Muslim Commerciale bank

None of these

Both a and b

If a country has linear production possibilities frontier than production is said to be subject to.

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constant opportunity costs

Decreasing opportunity costs

First increasing and the decreasing opportunity costs

Increasing opportunity costs.

The demand for labor is the same as the

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Marginal revenue product

Marginal physical product

Marginal cost

Wage

The increase in total cost when one more units is produced is known as.

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Marginal cost

Opportunity cost

Limited cost

Average cost

When all markets in the economy are simultaneously in equilibrium we say.

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Markets are complete

Markets are perfect

There is disequilibrium

There is general equilibrium.

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

Tariff levels in advanced countries tend to be ___ tariff levels in developing countries.

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Higher than

Equal to

Lower than

There is no general pattern

The "Law of demand" most directly means that consumers buy

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More of a good the higher their incomes, ceteris paribus.

Less of good the higher its price ceteris paribus

Buy more of a good the less is its supply ceteris paribus

Buy less of a good the greater is its supply ceteris paribus

The best describes consumer surplus.

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The price consumers are willing to pay for a unit

The cost of providing a unit.

The profits made by a firm

The difference the price a consumer pays for an item and the price he is willing to pay.

The economist who spend twenty years cautiously trying out his ideas on his students before finally presenting them to the world near the close of the 19th contrary was.

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William Stanley Javon's

Henry George

Leon walras

Allied Marshall

Research simply mesa a search for.

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Problems

Facts

Results

Topic

In a matrix , if there is only one row but any number of columns, it is called.

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Row matrix

Column matrix

Raw vector

Both a and c

Suppose your company is in equilibrium will its capital stock at its desired level A permanent increase in the depreciation rate now has what effect on your desired capital stock. i

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Raises it because the future marginal productivity of capital is higher

Lowers it because the future marginal productivity of capital is lower

Raises it because the user cost of capital is now lower

Lowers it beacause the user cost of capital is now higher

Head quarter of general Agreement on Tariffs and trade is located in.

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Geneva

Paris

Vienna

None of these

Keynes suggested that ________ income households consume a ____ proportion of their income than ____ income households.

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Low ; smaller ; high

Low ; larger ; high

low ; smaller ; middle

High ; larger ; low

The role of _________ is to direct one nation's savings into investments of another nation

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Merchandise trade flows

Service flows

Current account flows

Capital flows

Time lags which often erode effectiveness of monetary and fiscal policy measures represent.

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The change in export and import price.

Delays in the response of the economy to stabilization policy.

The foreign response to price changes

The change in exchang erates

Which characteristic of the following is not belonging to statistics as a method.

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A tool of analysis

Helps processing the raw

Descriptive nature

Processing done by systematic analysis and interpretation

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