Question # 1

Monopoly market is characteristics by

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A large number of sellers

Only one seller

Thousand of seller

All of these

Bank create money by

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Printing it

Issuing debit cards

Accepting chequeens

Lending out part of their deposits

All of the following are benefits of the single market except.

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It allows countries to exploit their comparative advantage, more fully

Firms could more readily exploit economies of scale

It intensified competition

It is easier book holidays in member countries.

During periods of rising inflation and rising interest rates we expect the demand for real cash to.

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rise

fall

not change

fluctuate

In 1950's subsidies given to.

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Agriculture sector

Export sector

industrial sector

Services sector

Drawing conclusion from the data collected is called.

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Analysis

Organization

Tabulation

Interpretation

If there is a financial panic and increased uncertainty about the return in the stock market and bond market what is the likely effect on money demand.

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Money demand declines first then rises when inflation increases

Money demand rises

The overall effect its ambiguous

Money demand declines

The economists who emphasized wage flexibility as a solution for unemployment were.

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Monetarists

New keynesians

Classical economists

Keynesians

The celling in the 1972 land reforms was lower being 150 acres for irrigated and ________ acres for unirrigated.

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200

300

400

None of these

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.

If A and B are symmetric matrix, then AB- BA is.

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Symmetric

Skew symmetric matrix

Idempotent matrix

Orthogonal matrix

Given the demand and supply cautions qo = -8p + 2000 and qs = 12 p - 200 respectively the equilibrium price.

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p = 100

p = 110

p = 120

p = 140

Goods which can be consume directly are

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Producer goods

Consumer goods

Free goods

Economics goods

The current chairperson of the planning commission of Pakistan.

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Nadeem ul Haque

Mehmood ul Haq

Abdul Hafeez sheikh

None of the above

To determine the total demand for all consumers sum the quantity each consumer demands.

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At a given price

At all prices and then sum this amount across all consumers

Both a and b will generate the same total demand

None of the above

The sacrifice involved when you choose a particular course of action is called the

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Alterative

Opportunity cost

Consumer cost

Producer cost

A polynomial equation with degree two a called.

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Linear equation

Quadratic equation

Parabola equation

All of the above

The same graph shows that the firm order to maximize profits , should produce.

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30 units charges a price of Rs. 16

20 Units and charge a price of Rs. 22

35 Units and charge a price of Rs. 12

38 units and charge a price or Rs. 10

Secondary activities

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Services

Production

Raw materials

All of these

The opportunity cost of acquiring education is.

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Course fees

Course fees and living expenses

The earning foregone

Course fees, living expenses and textbooks

In monopoly in long run equilibrium.

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The firm is productively effieient

The firm is allocatively inefficient

The firm produces where marginal cost is less than marginal revenue

The firm produces at the sociality optimal level

Macro economics is the study of.

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Individual building blocks in the economy

The relationship between different sectors of the economy

Household purchased decisions

The economy as a whole

When the value of output exceeds planned spending .

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There is unsold output, and the level of income will fall

there is unsold output and the level of income will rise

There is unsold output, and the level of income does not change.

All of the above

Price discrimination occurs when

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A commodity has different elasticity in different markets

Same elasticity in different markets

Unitary elasticity different markets

Noe of these

If a monopolist's demand curve is downward sloping and linear, then its total revenue curve must be.

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Identical to the demand curve

A ray from the origin with a slope equal to price

negative sloped with twice the slope of the demand curve

A rising function of output that increases at a decreasing rate , reaches a maximum, then falls.

Which of the following is a characteristic of pure monopoly.

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one seller of the product

Low barriers to entry

Close substitute products

Perfect information

The total utility of the third unit of product x is.

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10

5

23

38

The idea that the natural rate of unemployment rises when the acual rate of unemployment rise is known s.

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Stabilization

Insider outsider theory

Hysteresis

an efficiency wage model

The current account includes

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The value of trade in merchandise

Services

Unilateral transfers

All of the above

If the nominal money supply doubles while real money demand is unchanged what happens to the price level.

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The price level increases by a factor of four

The price level doubles

The price level is unchanged

The price level falls by one half.

Profit making is basic motive in.

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Socialism

Mixed economy

Communism

^Capitalism

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