[{"id":214319,"question":"Following is the important feature of the Islamic economic system.","choices":[{"text":"Zakat","value":"A"},{"text":"Usher","value":"B"},{"text":"Mudaraba and Musharika","value":"C"},{"text":"All of these","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214318,"question":"Expenditure on unproductive assets are strangely criticized and savings are emphasized by","choices":[{"text":"Ibn e Khaldun","value":"A"},{"text":"Ibn e Taimiya","value":"B"},{"text":"Nasiruddin Tosi","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214317,"question":"Forced labor is one of the greatest injustice in the world according to.","choices":[{"text":"Imam Abu Yousaf","value":"A"},{"text":"Imam Abu Qasim","value":"B"},{"text":"Khalil Jabran","value":"C"},{"text":"Ibn e Khaldun","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214316,"question":"Ibn-e Khaldun discussed in detail the principles of.","choices":[{"text":"Taxation","value":"A"},{"text":"Terms of trade","value":"B"},{"text":"Term of rent","value":"C"},{"text":"Duties of ruler","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214315,"question":"The renowned economist and Islamic scholar who applied principles of politics economics was.","choices":[{"text":"Imam Abu Haneefa","value":"A"},{"text":"ibn e Khaldun","value":"B"},{"text":"Imam Abu Yousaf","value":"C"},{"text":"Abu Qasim","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214314,"question":"Tax and rulers duty and terms of trade are discussed in.","choices":[{"text":"Kitab ul Anwal","value":"A"},{"text":"ammali","value":"B"},{"text":"Kitab Ul Asar","value":"C"},{"text":"Kitab ul Khiraj","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214313,"question":"One of the following is the renowned book of Imam Abu Yousaf","choices":[{"text":"Kitab ul khiraj","value":"A"},{"text":"Kitab ul Anwal","value":"B"},{"text":"Kitab ul Aloom","value":"C"},{"text":"All of the sese","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214312,"question":"In Islamic economic system following means of gaining wealth are permitted","choices":[{"text":"smuggling","value":"A"},{"text":"Hoarding","value":"B"},{"text":"Gambling","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214311,"question":"In Islamic economic system business is allowed in the field of.","choices":[{"text":"Halal goods only","value":"A"},{"text":"beneficial goods","value":"B"},{"text":"Consumer goods","value":"C"},{"text":"All of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214310,"question":"A activates which do not promote human welfare cannot be encouraged.","choices":[{"text":"Western estate","value":"A"},{"text":"Police state","value":"B"},{"text":"Islamic estate","value":"C"},{"text":"None Islamic estate","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214309,"question":"For a Muslim living within the code of Islam primary source for the the solution of economic problems is.","choices":[{"text":"the Holy Quran","value":"A"},{"text":"Sunnah","value":"B"},{"text":"Both a and b","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214308,"question":"Islamic economics is a social science which studies the economics of people living within the frame work of.","choices":[{"text":"Islam","value":"A"},{"text":"Nationalism","value":"B"},{"text":"Arab nationalism","value":"C"},{"text":"All of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214307,"question":"For a given positively sloped supply curve the price increase to consumers resulting from a specific tax imposed on sellers will be.","choices":[{"text":"Greater the more price elastic demand is","value":"A"},{"text":"Greater the less price elastic demand is","value":"B"},{"text":"Equal to the entire tax when demand is perfectly elastic","value":"C"},{"text":"Equal to half of the tax whenever demand is unit elastic","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214306,"question":"A Horizontal demand curve for a good could arise because consumers.","choices":[{"text":"Are irrational","value":"A"},{"text":"Are not sensitive to price changes","value":"B"},{"text":"View this good as identical to another good","value":"C"},{"text":"Have no equivalent substitutes for this good","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214305,"question":"If the price of automobiles were to increase substantially the demand curve for gasoline would most likely","choices":[{"text":"Shift leftward","value":"A"},{"text":"Shift right ward","value":"B"},{"text":"Become flatter","value":"C"},{"text":"Become steeper","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214304,"question":"A specific tax on sellers will","choices":[{"text":"shift the demand curve to the right","value":"A"},{"text":"Shift the demand curve the left","value":"B"},{"text":"Shift the supply curve to the right","value":"C"},{"text":"Shift the supply curve to the left","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214303,"question":"If the price of orange juice rises 10% and as a result the quantity demanded falls by 8% the price elastic of demand for orange juice is.","choices":[{"text":"-1.25","value":"A"},{"text":"Inelastic","value":"B"},{"text":"Both a and b","value":"C"},{"text":"Neither A nor B above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214302,"question":"The percentage change in the quantity demanded in response to a percentage change in the price is known as the.","choices":[{"text":"slope of the demand curve","value":"A"},{"text":"Excess demand","value":"B"},{"text":"Price elasticity of demand","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214301,"question":"A vertical demand curve for a particular good implies that consumers are.","choices":[{"text":"Sensitive to changes in the price of that good","value":"A"},{"text":"Not sensitive to changes in the price of that good.","value":"B"},{"text":"Irrational","value":"C"},{"text":"Not interested in that good","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214300,"question":"A vertical demand curve results in.","choices":[{"text":"No change in quantity when the supply curve shifts.","value":"A"},{"text":"No change in price when the supply curve shifts","value":"B"},{"text":"No change in the supply curve being possible","value":"C"},{"text":"No change in quantity when the demand curve shifts.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214299,"question":"If the demand curve for a good is horizontal and the price is positive then a leftward shift of the supply curve results in.","choices":[{"text":"a price of zero","value":"A"},{"text":"An increase in price","value":"B"},{"text":"A decrease in price","value":"C"},{"text":"No change in price","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214298,"question":"Consumers and firms are known as price takers only it","choices":[{"text":"No market exists to determine the equilibrium price","value":"A"},{"text":"they can set the market price","value":"B"},{"text":"They cannot effect the market price","value":"C"},{"text":"Excess demand exists","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214297,"question":"It is appropriate to use the supply and demand model if in a market.","choices":[{"text":"Everyone is a price taker with full information about the price and quantity of the good.","value":"A"},{"text":"Firms sell identical products","value":"B"},{"text":"Costs of trading are low","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214296,"question":"In the labor market if the government imposes a minimum wage that is below the equilibrium wage then.","choices":[{"text":"Workers who wish to work at the minimum wage will have a difficult time finding jobs.","value":"A"},{"text":"Firms will hire fewer workers than without the minimum wage law.","value":"B"},{"text":"Some workers may lose their jobs as a result","value":"C"},{"text":"Nothing will happen to the wage rate or employment","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214295,"question":"If a government imposed price celling causes the observed price in a market to be below the equilibrium price.","choices":[{"text":"There will be excess demand","value":"A"},{"text":"There will be excess supply","value":"B"},{"text":"The curves will shift to make a new equilibrium at the regulated price","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214294,"question":"When two goods are substitutes a shock that raises the price of one good causes the price of the other goods to.","choices":[{"text":"Remain unchanged","value":"A"},{"text":"Decrease","value":"B"},{"text":"Increase","value":"C"},{"text":"Change in an unpredictable manner","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214293,"question":"A competitive equilibrium is described by","choices":[{"text":"A price only","value":"A"},{"text":"A quantity only","value":"B"},{"text":"The excess supply minus the exceess demand.","value":"C"},{"text":"A price and a quantity","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214292,"question":"If price is initially above the equilibrium level.","choices":[{"text":"the supply curve will shift rightward","value":"A"},{"text":"The supply curve will shift letward","value":"B"},{"text":"Excess supply exists","value":"C"},{"text":"All firms can sell as much as they want","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214291,"question":"Equilibrium is defined as a situation in which.","choices":[{"text":"Neither buyers nor sellers want to change their behavior","value":"A"},{"text":"No government regulations exist","value":"B"},{"text":"Demand curves are perfectly horizontal","value":"C"},{"text":"suppliers will supply and amount that buyers wish to buy","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214290,"question":"The expression increase in quantity supplied is illustrated graphically as a.","choices":[{"text":"Leftward shift in the supply curve","value":"A"},{"text":"Rightward shift in the supply curve","value":"B"},{"text":"Movement up long the supply curve","value":"C"},{"text":"Movement down along the supply curve","value":"D"},{"value":"E"}],"correctAnswer":3}]