Question # 1

Primary producers maybe labeled as.

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White coliar workers

Pink collar workers

Red collar workers

None of these

If goods are exported for less than society's marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from.

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An import subsidy

A quota

Comparative advantage

An export subsidy

Eco Philosophy mainly deals with ethical part

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Philosophy

Metaphysics

Logic

Aesthetics

Fiscal policy output to change demand for output is.

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Completely effective in region KL

Partially effective in region JK

Elasticity is infinite for region LT

Completely ineffective in region LT

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

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At their lowest points

When they are declining

When they are increasing.

When marginal revenue is zero

What adjusts to restore general equilibrium after a shock to the economy.

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The LM curve

The IS curve

The FE line

The labor supply curve

Firms are assumed to ____ costs and to _______ profit.

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Incur , desire

Pay ; make

Change ;earn

Minimize ; maximize

The public sector includes.

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Investors owning companies

Government ownership of assets

Market forces of supply and demand

All trade via barter

The resources in an economy are

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Constantly increasing

Fixed at any moment

Constant decreasing

Able to be transferred easily between industries

Debit entries on the balance of payments are the entries that would.

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Mean a loss of foreign exchange

Bring foreign exchange into the country

Indicate a surplus exists

Exist at the bottom line a after all accounts are totaled.

Which of the following statements is true about hypothesis.

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It is an assumption about population value

There are different types of hypothesis

Hypothesis testing is a function of inferential statistics

All of the above

Sum of squares of the deviations about mean is.

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Maximum

Minimum

zero

one

The celling in the 1972 land reforms was lower being 150 acres for irrigated and ________ acres for unirrigated.

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200

300

400

None of these

When due to change in price of commodity x demand of commodity y is charged it is called.

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Income elasticity

Price elasticity

More elastic

Cross elasticity

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

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1990

1980

1981

1978

A firm's monopolistic position is strengthened by

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low elasticity of demand for its product

High elasticity of demand for its product

Constant elasticity of demand

None of the above

If marginal utility is zero.

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Total utility is zero

An additional unit of consumption will decrease total utility

An additional unit of consumption will increase total utility

Total utility is maximized

The total multiplier for the economy will reflect.

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MPC and MPT

MPT and MPZ

MPC and MPZ

MPC, MPT and MPZ

A decrease in wealth 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 in poeple face borrowing constraints.

Which of the following products will have an elastic demand.

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Flour

Cloth

Honda city

None of these

If the nominal money supply doubles while real money demand is unchanged what happens to the price level.

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The price level increases by a factor of four

The price level doubles

The price level is unchanged

The price level falls by one half.

In an open economy leakages to imports ______ the value of the multiplier.

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Reduce

Increase

do not change

None of these

That the division of labor a limited by the size of the market best applies to which explanation of trade

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Factor endowment theory

Product life cycle theory

Economies of scale theory

Over lapping demand theory.

Finance minister tax a commodity

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having elastic demand

ignore elasticity

Having unti elastic demand

Having unit elastic demand

Which of the following was a belief shared by utopian and scientific socialists.

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The labor of the middle class determines the value of a product

Class struggle is the necessary means to achieve social change

Private property should be abolished

History is determined by economic laws

As the MPS increases, the multiplier will

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Increase

Either increase or decrease depending on the size of the change in investment

Remain constant

Decrease

An increase in aggregate demand is more likely to lead to demand pull inflation if.

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Aggregate supply is perfectly elastic

Aggregate supply is perfectly inelastic

Aggregate supply is unit elastic

Aggregate supply is relatively elastic

Which of the following is a NOT component of M-2.

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Small time deposited

Money market mutual funds

Stocks

Checkable deposits

World Bank was established at the Briton wood conference in.

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1942

1944

1943

1940

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.

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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