Question # 1

Which financial instruments provide a buyer the right to purchase or sell a fixed amount of currency at a prearranged price within a few days to a coupled of years.

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Letter of credit

Foreign currency option

Cable transfer

Bill of exchange

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

In the UK under a _________ of the labour force belong to a trade union.

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Quarter

Third

Half

Three quarters

If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.

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40

¹²⁰

80

None of the above

A dichotomous question can be answered in one of the

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three responses

Two responses

Multiple responses

free responses

An Engel curve is based on which one of the following assumptions.

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Constant prices, very incomes

Constant price, constant income

Constant incomes, varying prices

None of these

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

Who among the following is a pantheist

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Warwick fox

Spinoza

Kant

None of these

There are ______ methods of measuring GDP

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Three

Four

Five

None

The estimated regression coefficient for good Y indicates

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Goods X and Y are independent goods

Good Y is relatively elastic

Good Y is a luxury good

Goods X and Y are complementary goods

The goal of a pure market economy is to best meet the desires of

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Consumers

Companies

Workers

The government

The fact that the production function relating output to labor becomes flatter as we move from left to right means that.

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The marginal product of labor is positive

The marginal product of capital is positive

There is diminishing marginal productivity of labor

there is diminishing marginal productivity of capital

Efficiency wages are_______ that raise

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Low wages , employment

High wages, labor supply

High wages, productivity

High wages, employment

In the long run a profit maximizing monopoly produces an output volume that

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Equates long run marginal cost with marginal revenue

Equates long run average revenue

Assures permanent positive profit

Is correctly described by both a and c

Which of the following would increase aggregate demand.

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Increasing saving

Increasing import spending

Increasing taxation revenue

increased investment

If the Bank of Pakistan wished to pursue a tight monetary policy is would.

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Sell government securities on the open market.

Reduce the minimum reserve asset ratio

Buy government securities on the open market.

Lower interest rates

Everyone's absolute income doubles family A's APC, according to the simple Keynesian consumption function is expected to.

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Fall

Double

Increase

Halve

Observation ,t he observer have been old specifically what is to be observed.

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Structured

Discussed

Controlled

Participated

If young busness professionals in Pakistan suddenly decide that driving japan made cars is an important status symbol net exports will tend to _____________causing aggregate demand to.

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fall ; fall

fall ; rise

rise ; fall

rise ; rise

According to the life cycle hypothesis consumption is related to.

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Current income

Past peak income

Expected lifetime income

Price expectations over one's life time

Which of the following is not an example of the functions of statistic.

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Average

Intelligence quotient

Diagram

x2 test

The value of a household's assets minus the value of its liabilities is called.

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Income

Debt

Stock

Wealth

What does Social Researchers seek out of vast and confusing variety of individual characters.

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Generalizations

Decisions

Single events

group characteristics

The main assumption of Kaldor model is that the economy operates at the level of .

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Full employment

Above than full employment

Less than full emplyment

None of above

An autonomous rise in __________ note causes by a change in the price level aggregate output of the interest shifts the _________ curve to the

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Net exports LM right

Net exports LM left

Money demand IS right

Money demand LM left

The situation in which the imports are greater than exports is termed as.

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Trade surplus

Trade deficit

Budget surplus

None

In a less developed country.

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The infrastructure is likely to be good.

Real wages are likely to be high

Unemployment is likely to be low

The primary sector is likely to be significant

Green revolution was in the following sector

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Agricultural sector

Import sector

Services sector

Industrial sector

In the circular flow diagram firms.

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Receive revenue and supply resources in the resource market

Incur costs and demand resources in the resource market.

Receive revenue and demand resources in the product market.

Incur costs and supply goods and services in the product market.

You move some of your savings account balance into your checking account.

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M2 falls and M1 rises

M1 falls and M2 rises

M1 and M2 are unchanged

M1 rises and M2 remains unchanged

The fac that the production function relating output to labor becomes flatter as wemove from left to right means that.

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The marginal product of labor is positive

The marginal product of capital is positive

There is diminishing marginal productivity of labor

There is diminishing marginal productivity of capital

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