Question # 1

Disposable income is equal to.

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National income

National income minus taxes plus transfers

Real GDP

National income Minus taxes

A decrease in the quantity of money supplied shifts the money supply curve to the _____ and the LM curve to the

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right ; left

right ; right

left ; left

left ; right

a contractionary monetary policy

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Reduces interest rtes

Reduces real output

shifts the LM curve to the right

All of the above

The sufficient condition required for the matrix to posses inverse is that the matrix should be.

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square matrix

Singular matrix

Non singular matrix

Orthogonal matrix

Rapid increases in the price level during periods of recession or high unemployment are known as.

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Slump

Stagnation

Stagflation

Inflation

In his description of an idealized city state Plato did not advocate.

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Class specialization

Self regulation of markets

Flat money to facilitate exchange

That all philosopher king rulers embrace communist styles of living.

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

A profit maximizing firm will hire labor until _______ equal the

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Marginal revenue, marginal cost

Long run marginal revenue, long run marginal cost

Labour output ratio, capital output ratio

Marginal cost of labour, marginal revenue product

If the federal reserve whishes to increase the money supply, it should

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Raise the reserve requirement

Raise the discount rate

Buy Treasury securities in the open the market

All of the above

What is the period of Rabi Seasons.

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Oct -Dec to April - May

May -June , to July - Aug

Oct - Nov to April -June

January -Mar, to April -May

There are __________ basic economic activities.

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2

3

4

5

In the Keynesian corss diagram, and cline in autonomous consumer expenditure causes the aggregate demand function to shift down the equilibrium level of aggregate output to___________ and the IS curve to shift to the.

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up ; left

up ; right

down ; left

down ; right

Characteristics of economic laws are

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Mere statement of economic tenduencies

Less certain

Hypothetical

All of the above

M4 is a _________ measures of money and includes deposits at both _____________ and

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Narrow, banks, building societies

Wide, banks, insurance companies

narrow, banks, insurance companies

Wide, banks, building societies.

The central economic problem in an economy refers to.

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The prevalence of unemployment

To allocate scarce resources between competing uses.

Consumers having less money than they would like

ensure that production costs are converted by sales revenue.

Rachel Carson wrote the book

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Silent spring

Transpersonal ecology

Deep ecology

None of these

A group of modern economists who believe that price and wage rigidities do not provide the only rationale for macroeconomic policy activism are called.

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New Keynesians

Keynesians

Monetarists

The Classical shool

The cliche that "the punishment should fit the crime" originated in the writing of.

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Plato

Thomas Aquinas

Jeremy Bentham

David Hume

The concept of the intuition of deep ecology is related to.

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Kant

Warwick fox

Spinoza

All of these

An increases in the demand curve for orange juice would be illustrated as a.

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Leftward shift of the demand curve

Right ward shift of the demand curve

Movement up along the demand curve

Movement down along the demand curve

Census is held in Pakistan after every ___ year

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5

10

15

20

Union of A and a null set is equal is.

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Intersection of A and null set

Null set

Both a and b

A

The "compensated" demand curve is the demand curve that.

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Shows only the income effect

Shows only the substitution effect

Shows both the income and substitution effects

Shows the Geffen good demand curve

As a result of the increase in government expenditures disposable income increases by.

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Rs.10 billion

Rs.9 billion

Rs.20 billion

Rs.5 billion

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

If the coefficient of price elasticity is less than one

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It is normal good

It is inferior good

It is luxury good

All of these

The method by which a sample is chosen

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Unit

design

Random

Census

A movement along the demand curve may be caused by

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A change in income

A change en the number of buyers

A change in advertising

A shift in supply

Find the revenue the government collects as a result of the tax

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Rs.10 million

Rs.40 million

Rs.16 million

Rs.30 million

In a recession a government.

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Is likely to want to increase demand in the economy

Is likely to want to decrease demand in the economy

Is likely to want to stabilize demand in the economy

Is likely to want to increase supply in the economy

"Economics is a science " the basis of this statement is.

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Relation between causes and effect

Use of deductive method and inductive method for the formations of laws

experiments

All of the above

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