Question # 1

What is inflation?

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Reduces the cost of living

Reduces the standard of living

Reduces the price of Products

Reduces the purchasing power of a pound

Who prepared budget of Pakistan?

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National Assembly

President of Pakistan

Ministry of France

State Bank of Pakistan

A budgetary deficit means:

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Total expenditure is more than total revenue

Current expenditure is more than current revenue

Capital expenditure is more than capital revenue

Total expenditure is more than current revenue

An increase in price all other things unchanged leads to:

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Shift demand out outwards

Shift demand inwards

A Contraction of demand

An extension of demand

Who is the exponent of realist theory?

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Mortan Kaplan

Hans Morgenthau

Martin Shubik

John Burton

In pure capitalism the role of government is best described as:

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Significant

Extensive

Nonexistent

Limited

What is the main cause of inflation?

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Increases in money supply

Fall in production

Increases in money supply and fall in production

Decreases in money supply and fall in production

According to Keynes, real inflation takes place-

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Before the level of full employment

On the level of full employment

After the level of full employment

All above are true

Who among the following was a great supporter of he Divine Theory of origin of the State?

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Bentham

J,S, Mill

Hobbes

James I

The concept of costing margin in the pricing theory was introduced by?

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Andrews

Baumol

Cournot

Williamson

What does the term''contingency workforce'' mean?

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Employees who work on whatever tasks are most essential at that moment

Employees who are expected to travel a great deal for their employers

Temporary employees who are hired for only as long as they needed

None of these

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