Question # 1

Which of the following is a flight control system?

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Flying wing

Fly-by-wire

Flight box shunt

Inrush neutral inflight impulse

Which of the following best expresses the law of demand:

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A high price reduces demand

A lower price reduces demand

A higher prices reduces quantity demanded

A lower prices shifts the demand curve to the right

Which country is the largest wheat producing country of the world?

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India

China

America

Switzerland

Which of he following is to not likely is not likely to be a government objective?

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Increasing employment

Increasing economic growth

Increasing government spending

Increasing the level of exports

Contribution of agriculture in Pakistan's national income is

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20%

24%

28%

26%

According to Marshall, the basis to consumer surplus is:

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Law of diminishing marginal utility

Law of equimarginal utility

Law of proportions

All of the above

What is a 'Quasi-rents'?

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Are in the nature of free gifts

May be applicable to all factors of production

comprise of all the returns to firm in excess of the returns of the marginal firm

All the above

Headquarter of Asian Development Bank (ADV) is located at?

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Manila

Tokyo

Bangkok

New Delhi

Which term is used for economies work best without of rules and regulations form the government''?

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Leissez-faire

subsidies

Interdependence

None of theses

In which of the following industry structures is the entry of new firms the most difficult?

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Pure monopoly

Oligopoly

Monopolistic competition

Pure competiton

For a perfectly competitive firm:

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Price equals marginal revenue

Price is greater than marginal revenue

Price equals total revenue

Price equals total cost

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