Question # 1

For perfectly competitive firm

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Price equals marginal revenue

Price is greater than marginal revenus

Price equal total revenue

Price equals total cost

Empirical research may given a new focus to the exiting theory means.

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Research clarifies theory

Researh intitiate theory

Reach refocuses theory

Psychoanalytic theory

One of the following is not a necessary characteristics of UDCs

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Low saving ratio

Low capital formation

Disguised unemployment

Insufficient human resources.

A pure number by which change in investment is multiplied to change in income is called

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Multiplier

Accelerator

Stabilizer

All of these

An economic variable that moves in the opposite direction as aggregate economic activity up in is called.

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Pro cyclical

Countercyclical

A cyclical

A leading variable

The appropriate expenditure switching policy to correct a balance of payments deficit is.

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Contractionary monetary policy

expansionary fiscal policy

Currency devolution

Currency revaluation

A monopoly may be self perpetuating because profits may be used for

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research

Cost saving

Technical advance

All of the above

A main advantage of specialization results from

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Economics of large scale production

The specializing country behaving as a monoploidy.

smaller production runs resulting in lower unit costs

High wages paid to foreign workers

The price mechanism does not act as a

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Signal

Incentive

Rationing device

Indicator of income

The most widely traded currency in the foreign exchange market is the.

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Euro

Chinses yuan

British pound

U.S. Dollar

The signed minor of the matrass A is called.

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Adjoin

Co factor

Minor

Rank

Headquarter of the Planning commission of Pakistan is located in.

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Karachi

Lahore

Islamabad

None of these

Which of the following are functions of inferential statistics.

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Estimation

Testing of hypothesis

Both a and b

None of these

The difference between a country's balances of payments and its balance of international indebtedness.

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Is equal of official reserve transactions

Occurs because of foreign exchange fluctuations

Reflects statistical discrepancies

Reflects the difference between flow and stock concepts

If the % change in quantity demanded is more than % change in price coefficient of price elasticity is.

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>1

<1

=1

=zero

One of the following has more elastic demand.

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A commodity with substitutes

A commodity having more than one use

A commodity commonly use

None of these

The free market involves

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The free provision of products

The subsidizing of products by the government

Market forces of supply and demand

All trade via barter

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

"Null set is proper subset of all the non nul sets" this statement is.

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Always true

sometimes true

Never true

True subject to some conditions

What major advantage of monetary policy over fiscal policy does this clipping underline.

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Monetary policy is more effective

Monetary policy is lss discriminatory

Monetary policy can influence interest rates

Monetary policy can be undertaken more quickly

Mudaraba business is administered by the Mudaraba companies and Mudaraba rules .

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1990

1980

1981

1978

The purpose of support price is to.

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Discourage former

Encourage consumer

Discourage consumer

Encourage farmer

The question "What is living? is important in

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Eco centered ethics

Animal centered ethics

Life centered ethics

Human centered ethics

The major source of revenue for the government is.

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the collection of property taxes

The collection of the corporates income tax

The collection of excise taxes on gasoline cigarettes and tires

The collection of import and export duties in the conduct of foreign trade

A supply schedule shows the relations between the quantity supplied of a commodity over a given time and.

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Factor prices

Technology

Both a and b

The price of the commodity

When the reserve requirement on checking deposits is 0.10 and the Federal Reserve purchases government securities values at Rs. 100,000, the MI money supply.

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Is unchaged

Increase by Rs.100,000

Increases by Rs. 1,000,000

None of these

"Reducing inflation is a more important objective than economic growth" is an example of.

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Normative economics

Positive economics

Objective economics

Reality economics

If X becomes more expansive i relation to Y, what happens to the budget line in the X - Y space, with Y on the vertical axis.

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It shifts to the right

It shifts to the left

The slope becomes flatter

The slope becomes steeper

Budget 2012 -2013 total volume is Rs. _______ billion.

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2,560

2.960

2.760

Noe of these

The origin of the idea of a trae off between inflation and unemployment was a 1958 article by

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A.W Philips

Edmund phelps

Milton Friedman

Robert Gordon

The length of a business cycle would be measured from

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Peak t trough

Trough to peak

Peak to Peak

The slump to the expansion

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