Question # 1

The production function will be affected by changes in the prices of.

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Inputs

Outputs

Neither

All of the above

The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.

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2%

3%

7%

4%

A stable equilibrium requires that the marginal propensity to consume is.

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Less than zero

Zero

One

None of these

To be allocatively efficient ta firm must produce where

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the total cost equals demand

the average revenue equals the marginal revenue

The price equals the average cost

The price equals the marginal cost

If there are 50 firms in a industry each selling 2% of the total sales the concentration ratio is.

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50%

2%

8%

100%

The difference between gross investment and net investment is.

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Depreciation

Acceleration

Deceleration

Capital investment

Unknown values in an equation are called.

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Constants

Numeraire

Variables

All of the above

The length of a business cycle would be measured from

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Peak t trough

Trough to peak

Peak to Peak

The slump to the expansion

When equilibrium in the money and goods markets occurs at a rate of interest below the BP schedule internal and external equilibrium for the United States can he achieved by.

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Expanding the U.S. money supply

Increasing government spending

Increasing taxes

Lowering interest rates in the united states.

Who among the following is concerned with deep acology.

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Arne Naes

Warwick fox

Kant

None of these

To reduce cyclical unemployment the government might.

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Increase the budget surplus

Increase the balance of payments deficit

Reduce interest rates

Reduce government expenditure

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

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Inflation

A supply shocks

Crowding out

Inflation illusion

The elasticity of demand for cigarettes by a non smoker is.

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Unitary price elastic

Relatively price elastic

Perfectly price elastic

Perfectly price inelastic

If two sets contain the same distinct elements, then they are called.

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Equal sets

Unequal sets

Equivalent sets

All of the above

A linear function of the form 6x2 - 2y + 8 = 0 is known as.

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Explicit function

implicit function

Quadratic function

All of the above

the theory of overlapping demands predicts that trade in manufactured goods is unimportant by countries with very different .

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Tastes and preferences.

Expectations of future interest rate levels

Per capita income levels

Labor productivities.

A pure number by which change in investment is multiplied to change in income is called

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Multiplier

Accelerator

Stabilizer

All of these

Aggregate demand without a foreign sector is the sum of.

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c+1

C+G

1+G

C+!+G

Increases in government spending increase interest rates and aggregate output in the ISLM framework this is a ____ shift of the _____ curve.

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Left ward ; LM

Right ; LM

Left ward ; IS

Left ward ; AD

In the short term a firm will produce provided the revenue

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Covers fixed costs

Covers variable costs

Covers total costs

Covers revenue

If a maximum price is set below equilibrium there will be.

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A price fall

A price increase

Excess supply

Excess demand

In economics, the term 'scarcity' refers to the fact that

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Everything worthwhile costs money

No society is able to produce enough to fully satisfy the desires of people for goods.

Even in wealthy societies, like the united states, some people are poor

sometimes shortages of product result if its price is set too low.

In any urban are there are people who have had healed wounds

Academic community is otherwise called.

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General public

Target audience

Participant audience

Scientific community

Production of vegetables and fruits is termed as

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Vegetative propagation

Truck forming

Both a and b

None of these

The first step in formulating a problem is.

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Statement of the prblem

Gathering of data

Measurement

Survey

Extension and contraction of demand mean

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Movement on the same demand curve

Movement to high demand curve

Movement to lower demand curve

Movement to another demand curve

A Rs.10 increase in autonomous investment spending shifts IS

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Rightward by Rs.10

Leftward Rs.10

Rightward by Ke (Rs.10)

Leftward by Ke (Rs.10)

Economics given can be shown by

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An inward shift of the production possibility frontier

A movement down the production possibility frontier

An outward shift of the production possibility frontier

A movement up the production possibility frontier

The world narrative derived from Latin verb

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Quantitative research

Qualitative research

Descriptive research

Experimental

According to the law of diminishing utility.

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Utility is at a maximum with the first unit

Increasing units of consumption increase the marginal utility

Marginal product will fall as more units are consumed

Total utility will rise at a falling rate as more units are consumed

Arne Naes is a

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French philosopher

American philosopher

Norwegian Philosopher

Pakistani Philosopher

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