Question # 1

if in a matrix , the number if rows is the same as the number of columns, it is called.

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Singular matrix

Non singular matrix

Square matrix

Column vector

The most frequently occurring score in distribution.

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Mean

Mode

Median

Quartile

A demand curve that is an equilateral hyperbola is.

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Perfectly elastic

Relatively elastic

Unit elastic

Relatively inelastic

The automatic stabilization function of fiscial policy ensures that government expenditures _________ and government revenues __ during recessions.

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decrease ; decrease

decrease ; increase

Increase ; decrease

increase ; increase

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

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20%

2%

12%

15%

The income elasticity of inferior goods is

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Zero

Positive

Negative

Unitary

An increase in costs will

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Shift aggregate demand

Shift aggregate supply

Reduce the natural rate of unemployment

Increases the productivity of employees

A reflationary policy

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Increases aggregate supply

Increases aggregate demand

Decreases the price level

Increase full employment

Negative taxation refers to.

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Tax rebate

Subsidies

Tax evasion

Tax avoidance

Positive cross elasticities suggest that goods are ______ and negative cross elasticities that goods are.

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Substitutes, interior

Normal, complements

Substitutes, complements

Normal , interior

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

in The Liquidity trap region

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Fiscal policy is not effective

Monetary policy is completely ineffective

Monetary policy is completely effective

Fiscal policy and monetary policy are equally effective

A change that increase real money demand relative to the real money supply causes.

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The LM curve to shift down and to the right

The LM curve to shift up and to the left

The IS curve to shift down and to the left

The IS curve to shift up and to the right

An increase in the money supply shifts the LM curve to the right causing the interest rate to __________ and output to.

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rise ; rise

rise ; fall

fall ; rise

fall ; fall

The IMF gives

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Short term credits

Short term and long term creditors

Both long term credits

None of these

The long term demand for real money balance will rise when

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the income elasticity of the demand for money is less than unity.

There is a long term increase in the price level

There is a relative increase in the stock of government securities.

Long term market interest rates are falling.

A good that is used as a medium of exchange as well as being a consumption good is called.

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A barter money

A commodity money

A legal tender

A debased money

Economics assumes that people consume goods and services to achieve.

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Status

Prestige

Utility

Self esteem

The classical are of the view that utility can be.

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Ranked

Counted

Expressed in numbers

Not counted

Major sector of the Pakistan economy in

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Export sector

Industrial sector

Services sector

Agriculture sector

When marginal revenue equals marginal cost

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Total revenue equal total cost

There is the biggest positive difference between total revenue and total cost

there is the biggest negative difference between total revenue and total cost.

Profits are zero

The difference between what consumers have to pay for a particular and what they are willing to pay is known as.

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Consumer surplus

Producer surplus

Dead weight costs

Dead weight surplus

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

The demand for a product would be more inelastic.

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The greater is the time under consideration

The greater is the number of substitutes available to buyers

The less expensive is the product in relation to incomes

all of the above.

If the price of orange juice rises 10% and as a result the quantity demanded falls by 8% the price elastic of demand for orange juice is.

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-1.25

Inelastic

Both a and b

Neither A nor B above

Julius smon ha pointed out the applied social sciences in.

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Policy assessment

Policy implementation

Policy formulation

Policy decision

A linear function of the form 6x2 - 2y + 8 = 0 is known as.

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Explicit function

implicit function

Quadratic function

All of the above

In economics we ofthe say that a particular event will occur "as long as other things stay the same. " The conduction that other thing saty the same is also called.

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Ceteris paribus

Marginal decision making

Incentives

Secondary effects

National Bank of Pakistan is one of the largest commercial bank operating Pakistan it was established.

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1948

1949

1952

1953

The marginal Revenue product is.

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Upward sloping due to the law of demand

Upward sloping due to the law of marginal utility

Downward sloping due to the law of diminishing returns.

Downward sloping due to the law of supply

Except for taxes to offset ___ taxes are.

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Imperfect competition , popular

Extremality's, distortionary

Inequality, a first best option

Poor health, unnecessary

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