Question # 1

If the price was fixed below the equilibrium price there would be.

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Excess supply

Excess demand

Equilibrium

Down ward pressure on prices

If there is a prices celling, which of the following is NOT likely to occur.

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Rationing by first come first served

Black markets

Gray markets

Sellers providing goods for free that were formerly not free

In singular sense 'Statistics' is considered as.

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Statistical data

Statistical methods

Both a a and b

None of these

Disposable income is obtained by subtracting ________ taxes from personal income

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Indirect taxes

Direct taxes

Subsidies

None

Headquarter of the Planning commission of Pakistan is located in.

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Karachi

Lahore

Islamabad

None of these

A scarce good.

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Does not exist

Is a good that can only be purchased with money

Is a good that can never be purchased with money

Is a good that is available in limited quantities, but is desired in greater quantities.

(A+B) + C =a +(B+C) This law of matrices is known as.

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Cumulative law

Associative law

Distributive law

Identity law

Which stage guides from the planning stage to the stag of drawing of final conclusions.

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Numerical facts

Statistical methods

Data

None of the above

A market demand curve can be derived by adding all the individual demand curves

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Vertically

Horizontally

In parallel

Any of the above as long as it is consistent

If tastes are identical between countries than comparative advantage is determined by

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Supply conditions only

Demand conditions only

Supply and demand conditions

Can't tell without more information.

Land will be allocated between competing uses so that.

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Housing gets priority

Industry gets priority

Faming gets priority

The equilibrium rental rate equilibrium total demand with supply

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

At the intersection of AD and AS equilibrium is achieved in.

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The goods market

The money market

The labour market

All of the above

When desired national saving equals desired national investment what market is in equilibrium.

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The goods market

The money market

The foreign exchange market

The stock market

The Marginal cost of product W exhibiting positive externalities is McW = 25 + 5 Qs, the competitive price for each unit of W (Pw) is Rs. 175 and the positive externality is worth Rs. 100 to society for each unit produced. Society considers product W under produced by how many units.

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10 Units

15 Units

20 Units

5 units

Labour productivity measures.

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The output per worker

The output per machine

Total output

Marginal output

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

Union of A with A, that is A U A.

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Complement of A

A itself

Con not be determined

None of these

According to Keynes, the level of employment is determined by

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Interest rates

The level of prices

The level of aggregate supply in the economy

The level of aggregate demand for goods and services.

What is the average money balance according to the square root rute if income is Rs.1500, each transaction cost is Rs.4, and the opportunity cost of holding money is.2%

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387

50

175

203

Given the cost data indicated in the table above the average variable cost of producing 7 units of output is

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Rs.37

Rs.29

Rs.31

Greater than Rs.37

Which of the following is not among Restow's stage of growth.

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The traditional society

the age of low mass consumption

The take off

The dried to maturity

The study which wants to determine the frequency of occurrence of an event of its association with something.

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Descriptive

Explorative

Formulate

Diagnostic

Taxes create a wedge between the sales price and purchase price that prevents the price system equaling _________ and

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Marginal costs, marginal benefits

Demand, supply

Marginal cost, marginal revenue

Marginal cost, average cost

Agricultural Development Finance Corporation was created in _____ under a central Act for the purpose of expanding financial facilities and promoting the development and modernization of agriculture in Pakistan.

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1950

1951

1952

1953

In a free market

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Government intervene

Government plan production

Government interfere

Price adjust to reconcile scarcity and desires.

A decrease in the marginal propensity to import will lead to.

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An increase in GNP

Lower the multiplier

An increase in imports

A decrease in imports

Which of the following is an injection into the economy.

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Investment

Saving

Taxation

Import spending

Automatic stabilizers

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Counter balance fluctuations in economic activity.

Reinforce fluctuations in economic activity

Do not occur when the economy falls into recession

Reduces the size of the deflationary gap

In Kaldor model saving income ratio in the growth process is considered.

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Constant

Positive

Variable

Negative

All of the following are type of monetary policy except

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A nominal money stock target

A balances budget

An inflation target

The pursuit of a target real interest rate

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