Question # 1

A shift in tastes toward Pakistan goods ______ net exports and causes the quantity of aggregate output demanded to______

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decreases ; rise

decreases ; fall

Increases ; rise

Increase ; fall

Local correspondent's method can be applied only where a high degree of precision is not.

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Case

Necessary

Interview

Nalied

A market demand curve can be derived by adding all the individual demand curves

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Vertically

Horizontally

In parallel

Any of the above as long as it is consistent

In marketing "USP " Stand for

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Unique selling proposition

Underlying sales pitch

Unit sales point

Under sales procedure

Which does the government not control directly.

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Spending on health

spending on defense

Firm's investment decisions

spending on education

In Balance of payments accounting tourism and travel are classified in the

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Merchandise trade account

Services account

Unilateral transfers account

Capital account

A square matrix a such that A2 = a is called.

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Orthogonal matrix

Skew symmetric matrix

Idempotent matrix

Singular matrix

The set of subsets of a set A is called.

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Power set of A

Complement of A

Both a and b

None of these

Quotas are government imposed limits on the ___ of goods trade between countries.

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Prices

Quantity

Revenue

Costs

The values are represented by identical symbol or pictures.

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Bar charts

Pictograms

Circle charts

graphs

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 concept of unbaled growth and balance growth are.

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Unlimited value

Single value

Limited value

Short value

If B is a subset of A, then AUB =

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B

Intersection of A and B

A

None of these

Second agricultural revolution came during

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Primitive age

Middle age

Modern age

None of these

In the Keynesian corss diagra, an increase in autonomous consumer expenditure causes the aggregate demand function to shift up the equilibrium level of aggregate output to _______ and the IS curve to shift to the _______

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rise ; left

rise ; right

fall ; left

fall ; right

A change that increase real money demand relative to the real money supply causes.

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The LM curve to shift down and to the right

The LM curve to shift up and to the left

The IS curve to shift down and to the left

The IS curve to shift up and to the right

Marginal revenue is the ________ when output is.

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Change in average revenue, inversed.

change in total revenue, increased by one unit

change in average revenue, increased by one unit

Change in total revenue, incresed.

In monopsony there is

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Single seller

Two buyers

Single buyer

Few buyer

Arne Naess related to.

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Political Philosophy

Aesthetics

Eco Philosophy

None of these

The equation for the LM curve is.

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Y = 100 -50 i

Y = 50 + 50 i

Y = 50 - 80 i

Y = 80 + 50 i

currency speculation is__________ if speculators bet against market forces that cause exchange fluctuations, thus moderating such fluctuations.

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Destabilizing

Stabilizing

Inflationary

Deflationary

An increase in autonomous consumer expenditure causes the equilibrium levelof aggregate output to _______ at any given interest rate and shifts the ____ curve to the

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rise ; LM ;right

rise ; IS ; right

fall ; LM, Left

rise ; IS ; Left

One of the transmission mechanism of monetary policy is through consumer house hold wealth.___________ and consumption.

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rise, increases, increases

rise, falls, increases

rise, increases, falls

rise, falls, falls

If the demand for money increase relative to the supply of money

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Interest rates will trend upward

Interest rates will trend downward

Interest rates are not affected by increases in money demand

Interest rates will behave randomly

Direct investment and security purchase are classified as.

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Capital account transactions

Current account transactions

Unilateral transfer transactions

Merchandise trade transactions

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

Which of the following does not characterize monopolistic competition.

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Product differentiation

Many producers

Absence of advertising

Some control over price

If a simultaneous and equal percentage decrease in the use of all physical inputs leads to a larger percentage decrease in physical output a firm's production function is said to exhibit.

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Decreasing returns to scale

Constant returns to scale

Increasing returns to scale

Diseconomies of scale

____________ represents the difference between what consumers have to pay for a product and what they are willing and able to pay.

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Producer surplus

Deadweight surplus

Government surplus

Consumer surplus

an asset that can easily be exchanged for goods and services is called a.

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Financial asset

Barter like asset

Illegitimate asset

Liquid asset

A decrease iin money demand other thing equal shifts the _____ curve to the

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IS ; right

Is ; Left

LM ; Left

LM ; Rfight

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