Question # 1

Who is regarded as the founder of theory of sets.

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Adam Smith

Karl Frederich Gauss

George cantor

Euller

According to Keynes the exogenous factors like technology increase in population and discovery of new markets are the reasons. of.

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Underemployment

Structural dualism

Low capital formation

Secular stagnation

Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase this increase in the price of the good results in.

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A rightward shift of the supply curve

An increase in quantity supplied

A leftward shift of the supply curve

A leftward movement along the supply curve

The use of money is more efficient than barter because the introduction of money

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Reduces the need for economic specialization

Reduces the need to exchange goods

Reduce the need for other stores of value

Reduces transaction costs

Money's primary role in the economy comes from the benefits of lowering transactions costs and allowing specialization This function of money is called.

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Store of value

Medium of exchange

Standard of deferred payment

Unit of account

In which of the following situations will an increase in the money supply have no effect upon equilibrium iincome.

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LM is steeply sloped and IS is relatively that

LM is vertical and IS is stopped

LM is steeply sotped and IS is vertical

LM is relatively flat as is IS

When the marginal propensity to consume is 0.75 the multiplier has a value of.

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4

5

3

2

A straight line diagram can be drawn knowing the _______ and _____

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Vertical axis and horizontal axis

Intercept and slope

Scale and slope

Intercept and scale.

In 1950's special imporant was given to

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Industrial sector

Services sector

Imports sector

Agricultural sector

Research is an organized

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Enquiry

Survey

Investigation

Experiment

All economic model ae based on

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Realistic assumptions

Assumptions which can never be perfectly realistic

Unrealistic assumptions

None of the above

The values are represented by identical symbol or pictures.

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Bar charts

Pictograms

Circle charts

graphs

In the short run an increase in the quantity of money ______ real GDP and _ the price level.

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increases ; raises

does not change ; lowers

decreases ; raises

decrease ; lowers

The impact of contractionary fiscal policy, according to new classical theory is that.

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Real interest rates do not change

Aggregate demand increase

Current real output substantially decreases

The price level substantially increases.

The law of demand states that.

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As the quantity demanded rises, the price rises.

As the price rises the quantity demanded rises

As the price rises, the quantity demanded falls.

As supply rises, the demand rises.

Laboratory experiments cannot be performed in economics because.

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Of resource scarcity

Economics is a natural science

Of the difficulty of distinguishing between normative and positive statements.

Economics is a social science

Advocates of industrial policy maintain that government should.

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Purse free trade as a policy that leads to maximum global efficiency

Grant subsides to firms offering potential comparative advantage.

Provide loans to domestic workers in exporting industries.

Increase interest rates on loans made to firms in import competing industries.

The view that human beings are above of outside of nature as a source of value to known as.

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Eco cetrism

Authropocentrum

Holism

Bio centrisim

During the financial year 1999-2000 the tax yielding the largest revenue for the Federal Government was.

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Income tax

Value added tax

Excise duty

Customs duty

A dichotomous question can be answered in one of the

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three responses

Two responses

Multiple responses

free responses

Astory is a starting point of.

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Experimental design

Quantitative research

Scientific method

Narrative method

A monopolist who is charging high price operates on.

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inelastic part of demand curve

Elastic demand of part curve

Ignore elasticity

More elastic demand of part curve

A beneficial supply shock would cause.

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A movement up the short run Phillips

a movement down the short run Phillips curve

The short run Phillips curve to shift upward and to the rights

The short run Phillips curve to shift down ward and to the left

The very thing which permitted people to settle permanently in one location with the assurance of food is.

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Tools

Fishing

Agriculture

None of these

The term of trade is given by theprices.

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Paid to all goods exported by the home country

Received for all goods exported by the home country

Received for exports and paid for imports.

Of primary products as opposed to manufactured products.

In the Keynesian cross diagram, a decline in autonomous consumer expenditure causes the aggregate demand function to shift ______ and the equilibrium level of aggregate output to.

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up ; rise

up ; fall

down ; rise

down ; fall

a possible use in encomia's for the circle or the ellipse is to model.

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Production possibility curve

Demand cuve

Isocost liine

Supply curve

A set of systematically related propositions specifying causal relationships among variables.

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Research

Concept

Theory

Hypothesis

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 fall in the birth ratio will affect the process of economic growth according to

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Schumpeter

A.H.Nansen

Karl Marix

M.P. Todaro

An equation in which all variables are raised to the first power is known as.

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Linear equation

Non linear equation

Quadratic equation

Polynomial of degree two

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