Question # 1

Censuses are the most complete type of.

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Social survey

Survey

Sampling

Data collection

Which of the following explains why demand curves slope downward.

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Prices and income

substitutes and complements

Resources and technology

Substitution effect and income effect

Which of the following is automatic stabilizer.

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Unemployment benefits

Spending on education

Defense spending

Net interest

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

Short run average total costs are equal to the sum of _______ and______

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Short run opportunity costs, profit

Short run average variable costs, profit

short run average variable costs, profit.

Short run average variable costs short run average fixed costs

Why is the law of diminishing marginal returns ture.

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Specialization and division of labor

Spreading the average fixed cost

Limited capital

All factors being variable in the long run

In a recession

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Unemployment is likely to be low

prices are likely to increase

Growth is negative

Growth is slow

The limit of an economy's total productive capacity at any given time is set by

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The amount of money in circulation

Business demand for goods and services

The level of government spending and taxation

the quantity and quality of its productive resources

In 1950's liberal policy was adopted regarding.

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Export

Imports

Both

Non

Identification with nature is the grounding

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Bio centrism

_{Deep ecology}

Anthropocentrism

Holism

What is the production level for public good W, if the government uses full cost pricing.

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Q = 2

Q = 5

Q= 4

Q = 6

if a consumer is purchasing only two commodities X and Y , and the marginal utility per dollar of Y is greater than the marginal utility per dollar of X to maximize total utility with the limited income the consumer should buy.

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.Less of both commodities

.More of both commodities

More of Y.

None of the above

Green revolution was in the following sector

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Agricultural sector

Import sector

Services sector

Industrial sector

Which among the following is a material for statics.

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Honesty

Poverty

Wisdom

Numerical data

Chose the advantage of snowball sampling from the following.

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population of not seen

Total size of population is not known

researcher's acquaintance influence the research

Contradicts with conventional nations.

The view which allows only use value ot nature is known as.

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Deep ecology

Shallow ecology

Life ecology

None of these

The percentage change in the quantity demanded in response to a percentage change in the price is known as the.

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slope of the demand curve

Excess demand

Price elasticity of demand

All of the above

Suppose taht an exise tax is imposed on the monopolist's product if the monopolist's marginal cost is horizontally the relevant range, which of the following statements must be true.

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The price will increase by an amount less than the tax

The price will increase by an amount equal to the tax

The price will increase by a amount greater than tax

The price may either increase or decrease

If a government imposed price celling causes the observed price in a market to be below the equilibrium price.

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There will be excess demand

There will be excess supply

The curves will shift to make a new equilibrium at the regulated price

None of the above

Total revenue equals

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Price Plus quantity

Price multiplied by quantity sold

Price divided by the quantity sold

Price minus quantity sold

As long as the principle of diminishing marginal utility is operating any increased consumption of a good.

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Lowers total utility

Produces negative total utility

Lowers marginal utility and therefore total utility

Lowers marginal utility, but may raise total utility.

Headquarter of International Association Development is located in.

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Vienna

New York

Washington

None of these

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

According to the law of diminishing utility.

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Utility is at a maximum with the first unit

Increasing units of consumption increase the marginal utility

Marginal product will fall as more units are consumed

Total utility will rise at a falling rate as more units are consumed

The recording of the data is dome on the basis of the scheme.

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coding

Tabulation

Classification

Analysis

An economy that has achieved full production has achieved

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Both allocative and productive efficiency

Allocative but not productive efficiency

Productive but not allocative efficiency

Neither allocative nor productive efficiency

According to the________ the export of the product that embodies large amounts of the relatively cheap, abundant resorce results in an increase in its price and income of the resource used intensively in the import competing product decrease as its demand falls.

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Ricardian equivalence theorem

Smithian equivalence theorem

Stolpher Samuelson theorem

Bemanke Greenspan theorem

Which of the following measures is the best measure of money as a medium of exchange.

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M1

M2

M3

None of the above

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

A country transactions with the rest of the world are recorded in the

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Balance of international indebtedness

Balance of financial transactions

Balance of payments

Income statement

When one country provides most favored nation status for another if agrees to.

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Change that nation's product a lower tariff than any other nations

Charge that nation's products a tariff rate no higher than that on any other nation.

Charge that nation's products a higher tariff than any other nation's

Export to that nation any products that it wants to purchase

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