Question # 1

When economists say that a per son is economizing they mean that the person is.

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making choices to gain benefits at lowest possible cost

Making a lot of money

Purchasing goods that are generic cheap or of low quality

Learning how to run a business more effecitively

As long as the principle of diminishing marginal utility is operating any increased consumption of a good.

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Lowers total utility

Produces negative total utility

Lowers marginal utility and therefore total utility

Lowers marginal utility, but may raise total utility.

Skills that embodied in a person are called

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Human capital

Emboded skills

Physical capital

Expeneces skills.

Monetary policy is concerned with influencing.

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The general level of money wages

The level of government expenditure

The price and availability of money

The level of shares on the stock market

In a competitive industry each buyer and seller.

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Is a price taker

Produce different products

Believes that can influence price

Prevents the entry of competitors

Which of the following is incorrect with respect to the consumption diagram.

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the interest rate is a premium

MRS = (i +r)

The consumer will be lender in time zero

The consumer lends 700

To anticipate what the economy is going to do next the government will look at.

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Lagging indicators

Flashing indicators

Coincidental iindicators

Leading indicators

Which crops are sown in Rabi Seasons.

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Tobacco, rape seed

Wheat, gram

Barely and mustard

All of them

in large scale industry 46% share is contributed by

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Textile industry

Cement industry

coal industry

Steel and iron industry

The value of the dependent variable where the graph cuts the y-axis is called.

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X - intercept

Y- intercept

Slope

None of these

if A = A , then A is

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Symmetric matrix

Skew symmetric matrix

Identity matrix

Orthogonal matrix

The marginal revenue curve in monopoly

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Equals the demand curve

Is a parallel with the demand curve

Lies below and converges with the demand curve

Lies below and diverges from the demeaned curve

The practice of using fiscal and monetary policy to stabilize the economy is known as.

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Fine turning of deamand

Monetarism

Laissez faire economics

Supply side economics

A country transactions with the rest of the world are recorded in the

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Balance of international indebtedness

Balance of financial transactions

Balance of payments

Income statement

If the price in a market is fixed by the government above equilibrium.

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There is excess equilibrium

There is excess supply

There is excess demand

There is equilibrium

During the 1980 empirical evidence indicates that.

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Poverty re emerged in Pakistan

Good growth brought down poverty in Pakistan

Poverty situation showed no change

None of the above

The market demand for a product is found by

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Horizontally summing the individual demand curves

Vertically summing the induvial demand curves

Both horizontally and vertically summing the individual demand curve.

None of the above

The view which allows only use value ot nature is known as.

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Deep ecology

Shallow ecology

Life ecology

None of these

The Harrod -Domar models are based on the restrictive assumption of.

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Increasing saving income ratio

Decreasing saving income ratio

Low saving income ratio

Constant saving income ratio

Kharif crops include.

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Cotton and rice

Maize and Sugarcane

Jawar and Bajra

all of the them

The Root Mean square Error for the actual sales and sales forecast for 1985 and 1986 is.

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20.2

19.9

14.7

17.2

Unknown values in an equation are called.

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Constants

Numeraire

Variables

All of the above

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.

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

Primary producers maybe labeled as.

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White coliar workers

Pink collar workers

Red collar workers

None of these

A straight line downward sloping demand curve implies that as price falls the elasticity of demand.

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Increases

Decreases

Remain the same

None of these

An intensive study of particular case is.

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Content analysis

Case study

Research design

intensive study

Which exchange rate mechanism is intended to insulates the balance of payments from short term capital movements while providing exchange rate stability for commercial transactions.

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Dual exchange rates

Managed floating exchange rates

Adjustable pegged exchange rates

Crawling pegged exchange rates.

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

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Smaller

Larger

the same size

None of these

The monopolization of the competitive market results in a deadweight loss to society of

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RSJK

JKL

THJ

RSJL

A firm can fund an investment from its own sources, the opportunity cost of its investment is

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Less than zero

Zero

More than zero

Neither

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