Question # 1

Price discrimination occurs when

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A commodity has different elasticity in different markets

Same elasticity in different markets

Unitary elasticity different markets

Noe of these

A decrease in lump sum taxes is an examples of.

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Contractionary fiscal policy

Expansionary fiscal policy

A change in induced taxes

A and c

Why might a country resist globalization.

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Greater choice of final products

Greater choice of supplies

Greater competition for domestic firms

More markets to sell to

Indifference curve theory is old wine in new labeled bottle is said by.

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Marshall

Griffin

Ricardo

Allen

An increase in autonomous consumer expenditure causes the equilibrium levelof aggregate output to _______ at any given interest rate and shifts the ____ curve to the

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rise ; LM ;right

rise ; IS ; right

fall ; LM, Left

rise ; IS ; Left

When world trade organization replace GATT.

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1 January 1995

1 January 1994

1 December 1997

1 Jun 2000

The income elasticity of demand

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Is negative for normal goods

Is positive for normal goods

Equals the relative change in demand for a good divided by the relative change in the iincome of consumers all else being equal

Is correctly described by all of the above

For the economic growth of country following is required.

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Capital formation

Human resources

Natural resources

All of these

A temporary decrease in government purchases would cause.

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A rightward shift in the saving curve and a leftward shift in the investment curve

A rightward shift in the saving curve and a rightwards shift in the investment curve.

A right ward shift in the saving curve but no shift in the investment curve

No shift in the saving curve but a left ward shift in the investment curve.

Forced labor is one of the greatest injustice in the world according to.

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Imam Abu Yousaf

Imam Abu Qasim

Khalil Jabran

Ibn e Khaldun

Which of the following does not result in an increase in U.S. autonomous net exports.

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The U.S. dollar depreciated

Major trading partners stimulate their economy

Foreign currencies depreciate

Foreign trading partners lift tariff barriers

Weighted monetary aggregates

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Ignore the fact that some assets are more money like than others.

Are constructed by simply adding up the outstanding amounts of various types of asssets

Give greater weight to currency than to savings deposits

Value coins more than currency.

The Isoquant curve shows different combinations of two factors of production which give the producer.

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Different level of output

High level of output

low level of output

Same level of output

Indifference curve is alwyas.

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Vertical

Horizontal

Concave

Convex

Developing economies usually

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Have large industrialized sectors

Are dependent on primary products

Have high levels of wealth

Earn more from exports than is spent on imports

A profit maximizing monopolist in two separate markets will

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Charge different price according to elasticity

Charged same price

Charged very high price

Charged very low price

The break even level of income where C = Y is

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200

300

500

400

The theory of overlapping demands predicts that trade in manufactured goods is unimportant for countries with very different.

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Tastes and preferenes

Expectations of future interest rate levels

Per capita income levels

Labor productivities

Scientific social survey and Research is written by

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Best John

Emory

Bedrove school

P.V. Young

In perfect competition there is.

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Many buyers

Many sellers

Homogeneous product

All of these

If the determinant formed by the elements of the matrix A is equal to zero, then the matrix is.

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Skew symmetric

Singular

Symmetric

Non singular

Given or known values in an equation are called.

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Constants

Parameters

Coefficients

All of the above

A function where a variable x can only very in jumps, is often called.

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Non linear functions

Inverse function

Step function

All of above

A fall in interest rates is likely to

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Increase aggregate demand

Increase savings

Decrease consumption

Decrease exports

Given the saving equation S = - 50 + 0, 20 Y, where s is saving and Y is income.

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The break even level of income is 240

Dissaving takes place if income is 300

Consumption expenditures and saving are equal at an income level of 500

The MPS is constant for all levels of income

The main assumption of Kaldor model is that the economy operates at the level of .

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Full employment

Above than full employment

Less than full emplyment

None of above

International trade forces domestic firms to become more completive in terms of.

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The introduction of new products

Product design and quality

Product price

All of the above

Social welfare is maximized when a hedonistic calculus regulates all human action according to the interventionist liberal

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John Stuart Mill

Thorstein veblen

Milton Frideman

Jeremy Bentham

According to the Laffer curve as tax rates increase tax revenues.

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Decrease continuously.

Initially decrease and then increase

Rise continuously

Initially increase and then decrease

Which of the following is not a primary cause of business cycle fluctuations according to real business cycle theory.

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A change in the production function

A change in the size of the labor force

A change in the money supply

A change in the real quantity of government purchases

The price of salsa rises, How does the increase in the price of salsa affect the supply of salsa.

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The supply of salsa increases

The supply of salsa decreases

There is no change to either the supply of salsa or the quantity supplied of salsa

There is no change to the supply of salsa but the quantity supplied of salsa increases

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