Question # 1

Which economist has stated the definition of balance of payments

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Robbins

Kindleberger

Marshall

Keynes

One of the following is not included in explicit cost

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Wages of labourers

Reward of entrepreneur's personal labour

Price of raw material

Interest of capital

Unit of account money in Pakistan is

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Rial

Rupee

Dollar

Pound

Additional amount of money which a firm gets by selling an additional unit of output is called

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Average revenue

Marginal revenue

Total revenue

Revenue

Tendency of average revenue curve under monopoly is alwaus

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Falls down

Parallel to x-axis

Rises up

Parallel to y-axis

In case of rise in demand, demand curve shifts:

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Right side

Downward

Upward

(a) and (c)

Study of large aggregated of economic system is called

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Micro economics

Macro economics

Applied economics

All the three

The supply curve of Fish is

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More elastic

Less elastic

Inelastic

Infinite elastic

The rate change in total cost is:

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TR

MC

MR

TC

If demand falls more proportionately then that of supply then

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Equilibrium price increases

Equilibrium price decreases

Equilibrium price does not change

Equilibrium quantity increases

Wages of temporary labourers are:

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Fixed cost

Marginal cost

Total cost

Variable cost

Zakat means

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Growth

Purification

Tax

Both 1st and 2nd

When total production decreases, marginal product is:

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Positive

Negative

Zero

Infinite

The rate of usher on product of canal land is

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5%

10%

20%

2.5%

International Monetary fund is

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Local

Regional

National

International

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