Question # 1

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

What is the effect the economy if reducing involuntary unemployment?

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It helps the economy move on to the Helps shift the economy move on to the Production Possibility Frontier

Helps shift the economy's production Possibility Frontier out wards

Helps the economy move along its Production possibility Frontier

Helps the economy Frontier

What does the term 'The Golden Horde' Refer to?

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Part of the Mongol Empire

An area in Mexico once ruled by the Aztecs

Napoleon's conquest of Egypt

The former policy of the south African government designed to Maintain the separation of Blacks and other non-Whites form the dominant whites is called:

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Alienation

Apartheid

Closed system

Control group

What is the full form of he NIPA?

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national Institute of Public Administration

New institute of Public Administration

National institute of Pakistan

National institute of Provincial Administration

A written promise to reply the amount borrowed at a later date?

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Bond

Bankruptcy

Principal

interest

Which of the following is not involved with fiscal policy?

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Income tax

VAT

National insurance

Interest rates

Which sociologist coined the term sociological imagination?

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C.Wright mills

max Weber

James Frazer

Emile Durkheim

According to the utility model of consumer demand the law of diminishing marginal utility indicates that the demand curve is:

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Downward sloping

U-shaped

Upward sloping

Vertical

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

Ultimate burden of tax is known as

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Impact

Incidence

shifting of tax

Property tax

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