Question # 1

Hirschman along with other ebonists consider that for economic development.

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Balance growth is necessary

Unbalance growth is necessary

Big push in investment is necessary

Industrial development is necessary

If the price is less than the average cost but higher than the average variable costs.

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The firm is making a loss and will should own in the short term.

The firm is making a profit.

The firm is making a loss but will continue to produce in the short term

The firm is making a loss and is making a negative contribution to fixed costs

"Treating an individual as typical of a group.

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Pure discrimination

statistical discrimination

Human capital

Specific skills

Nominal GNP measures income

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At the present time

Corrected for tax changes

Corrected for changes in interest rates

At current prices

The asset market approach is most helpful in explaining.

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Why exchange rate remain quite stable

Why government change their money supplies

Long term exchange rate movements

Short term exchange rate movements

The very word statistics refers to.

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State craft

Science of state

Political state

Political craft

The short run impact of unanticipated expansionary monetary policy is that.

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Real output decrease

Employment decreases

Real interest rates decrease

Profit margins decrease

Which of the following would decrease aggregate demand.

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Increased consumption

Increasing export revenue

Increased taxation revenue

Increased investment

The extent of variability is measured by

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Central tendency

Measures of dispersion

Arithmetic mean

Co relation

In an economy, measuring total value (1) added, total value(2) spending on final goods and 3 total factor earning gives the result that.

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3>2>1

3 +2>1

3<2<1

Any measure can be larger or smaller than any other

To ensure that the fundamental identity of national income accounting holds changes in inventories are.

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Ignored

Counted as consumption

Treated as part of saving

Treated as part of expenditure

in the Keynesian cross diagram, a decrease in investment spending because companies become more pessimistic about investment profitability causes the aggregate demand function to shift _____the equilibrium level of aggregate output to fall and the IS curve to shift to the.

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up ; left

up ; right

down ; left

down ; right

The multiplier is calculated as.

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1(1-MPC)

1/MPS

1/MPC

a or b

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

The fifth five year plan was an attempt to stabilize the economy and improve the standard to living of the poorest segment of the population from __________ to ____

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1975-80

1980--85

1978-83

None of the above

The main monetary tool in Islamic economic system regarding circulation of wealth is zakat it is for.

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Poor and needy

consumers

Producers

Banks

Which of the following strategies have developing countries not used to deal with the problem of unstable expert markets.

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Multilateral contracts

Production and export controls

Buffer stock arrangements

Tariff rate quotes

Which method develop theories.

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Observation

Case study

Research

Survey

Marginal utility is equal to average utility at that time when average utility is.

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Increasing

Maximum

Falling

Minimum

In the efficiency wage model with the efficiency wage above the market clearing wage when employment is at its full employment level.

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Labor supply equals labor demand

There is an excess supply of labor

there is an excess demand for labor

There could be either an excess demand for or an excess supply of labor

If the Federal reserve conducts open market __ the money supply __ shifting LM curve to the left.

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Purchases ; decreases

sales ; decreases

purchases ; increases

sales ; increases

Higher export demand _______ output and a higher MPZ______ output..

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Reduces, reduces

Reduces, increases

Increases, reduces

increases, increases

The reduction or covering of foreign exchange risk is called.

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Hedging

Speculation

Intervention

Arbitrage

The sufficient condition required for the matrix to posses inverse is that the matrix should be.

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square matrix

Singular matrix

Non singular matrix

Orthogonal matrix

An IOU of the Federal Reserve Bank of Scan Francisco to Bank of America is called.

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Discourse

Federal funds

Reserves

Collateral

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

Compared to the case of perfect competition.

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Monopolist is more likely to

Charge a higher price

Produce a lower quantity of the product

All of the above

Food crops cover about __________ of cropped areas

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75%

85%

15%

35%

ECO come into force in.

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January 1985

January 1966

January 1948

January 1949

The exit of firms out of a competitive market causes the supply curve to.

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Shift leftward

shift rights ward

None of the above for the exit of firms supply curve

shift either left or right depending on the number of firms leaving the market

A monopolist will maximize profit.

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Where total revenue is maximized

Where the slope of the total revenue function equals the slope of the total cost function

Where average cost is at a minimum

Where all the above are ture

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