Question # 1

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

Kharif crops include.

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Cotton and rice

Maize and Sugarcane

Jawar and Bajra

all of the them

In a perfectly competitive market if firms are earning an economic profit the economic profit.

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Attracts entry by more firms, which lowers the market price

Can be earned both in the short run and long run

Is less than the normal profit

Leads to a decreases in market demand

Which is refers to any collection of specified group of human beings.

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Sampling

Random sampling

Non probability sampling

Population

In long run a reduction in labor supply would cause output to __ and the aggregate price level to.

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fall ; rise

fall ; fall

rise ; fall

rise ; rise

Companies in the private sector are owned by

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The government

Shareholders

Employees

The community

Compared to the case of perfect competition, a monopolist is more likely to

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Charge a higher price

Produce a lower quantity of the product

Make a greater amount of economic profit

All of the above

The ratio of debt to GDP will be larger

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The lower the real interest rate

The lower the growth rate of output

The lower the in initial debt ratio

The lower the ratio of the primary deficit to GDP

The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the

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Relational expectations hypothesis.

Active expectations hypothesis

Static expectations hypothesis

Adeptive expectations hypothesis

Which of the following is NOT characteristics of underdeveloped nations.

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Low per capita income

Low growth rate of GNP

General needs for substantive investment in the infrastructure

Low population growth rates

If a Set C contain all the elements which are present in both the set A and B then set C is called.

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Union of A and B

Intersection of A and B

Complement of A

Complement of B

What is the process of summarizing raw data and displaying them on compact statistical tables for further analysis.

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Statistical analysis

Data processing

Tabulation

Table construction

GDP plus net property income from aboard equals what.

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GNP

NNP

Depreciation

Real GDP

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

Expansion in money supply stems from.

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Increasing the cost of bank credit

Reducing availability of bank credit

Reducing the financial cost of bank credit

None of above

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

Friedman and phelps suggested that there should not be a stable relationship between inflation and unemployment, but here should be a stable relationship between

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Anticipated inflation and frictional unemployment

Anticipated inflation and cyclical unemployment

Unanticipated inflation and frictional unemployment.

Unanticipated inflation and cyclical unemployment

If there is a price celling there will be

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Shortages

Surpluses

Equilibrium

None of these

Suppose velocity is constant and the real income elasticity of the demand for money is less than one then estimating inflation as money growth rate minus real growth rate.

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Overestimates inflation

Underestimates inflation

Is an erratic estimate of inflation

Remain an accurate estimate of inflation.

The conditions necessary for a firm to be able to price discriminate include.

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Segment able markets

Difference in price elasticity of demand among the segments

The inability of customers to transfer products

All of the above

All of the following are trade problems of developing countries except.

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Unstable export markets

improving terms of trade

Limited access to the markets of industrial countries

Highly elastic demand curves for their products.

a demand curve can shift because of changing.

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Incomes

Prices of related goods

Testes

All of the above

Which of the following is not an obvious or direct determinant of a country's imports.

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Real exchange rate

Income

Tariff rates

Interest rate

If the same amount is added to or subtracted from all the values, standard deviation shall be.

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Changed

Unchanged

Both

None

When a nations money supply is Rs.1200 billion and the nominal Gros National product is Rs.4800 billion the velocity of money is.

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0.25

4

0.4

Rs.4 billion

The exogenous variable in the income equation C +!+G = y is

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C

I

G

None of these

When there is no change in central banking holding of international reserve balances a country's

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Trae balance always equals 0

Current account balance always equals 0

Capital account balance always equals 0

Balance of payments always equal 0

The current account includes

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The value of trade in merchandise

Services

Unilateral transfers

All of the above

During the last eight years the per capita income in Pakistan has been

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Increasing substantially because of decline in population growth

Decreasing

increasing only marginally

Constant

Life centered, ethics taken into account of action of.

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Animals

Human beings

Impact of human action

Al of these

If a government imposed price celling causes the observed price in a market to be below the equilibrium price.

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There will be excess demand

There will be excess supply

The curves will shift to make a new equilibrium at the regulated price

None of the above

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