Question # 1

Wellbeing of all individual living things is the primary concern of.

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Biocentrism

Eco centreman

anthropocentrism

None of these

Keynes owes the concept of multiplier to

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Pigou

Marshall

R.F.Khan

MARX

The fact that the production function relating output to labor becomes flatter as we move from left to right means that.

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The marginal product of labor is positive

The marginal product of capital is positive

There is diminishing marginal productivity of labor

there is diminishing marginal productivity of capital

Sample implies

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Survey representation of larger whole

Smaller representation of larger whole

Population representation of a larger whole

Census representation of a larger whole

Which of the following is a characteristic of monopolistic competition.

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One seller serving the entire market

When each firm sells an identical product

When firms do not compete on a product quality price and marketing

When firms are free is enter and exit the market

The best describes consumer surplus.

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The price consumers are willing to pay for a unit

The cost of providing a unit.

The profits made by a firm

The difference the price a consumer pays for an item and the price he is willing to pay.

A firm's long run average total cost lineis

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Identical to its long run marginal cost line

Also its long run supply curve

In fact the average total cost curve of the optimal plant

Tangent to all the curve of short run average total cost

In the long run in perfect competitiion

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the price equals the total revenue

Firm are allocatively inefficient

Firms are productively efficient

the price equals total cost

Assuming that money is neutral an increase in the nominal money supply would causes.

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An excess supply for goods

an increase in the real money supply

A fall in the price level

A rise in nominal wages

In the short run the competitive firm will produce if.

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Price is equal to marginal cost

Price is equal to marginal revenue

Price is equal to total cost

Price is equal to are greater than average variable cost.

Equilibrium in the money markets can be expressed by the equation i = 9k/h) Y -M/h. The slope of LM decrease when

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k increases and h increase

k increases and h decrease

k decrease and h increase

k decrease and h decrease

When due to change in price of commodity x demand of commodity y is charged it is called.

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Income elasticity

Price elasticity

More elastic

Cross elasticity

The commission's authoritative figures include a Chairman who is the_____ assisted by the deputy chairman and a science advisor.

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Prime Minister

President

Chairman Senate

None of these

A multinational busniess

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Sells products abroad

Produces in more than one country

Imports from abroad

Sells only domestically

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

The prominent meaning of statistic

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Data , its analysis and interpretation

Observation of samples

Method for analyzing numbers

conducting census

All currencies other than the domestic currency of a given country are referred to as.

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Reserve currencies

Neal monies

Foreign exchange

Hard currency

Aggregate demand in an economy trading internationally with a government sector can be written s.

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AD = C+1

AD = C + 1+ G

AD = C +1+G+X+Z

AD+C+1+G+X-Z

An increase in the number of workers hired by a firm could result from

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a decrease in the marginal product of labor

a decrease in the marginal revenue product of labor

An increase in the real wage

A decrease in the real wage

The research is a systematic gathering of information among individuals and collectives.

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Case study

Survey

Content analysis

Census Report

The budget deficit tends to decrease when

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GDP increases

GDP decreases rapidly

GDP remains unchanged

GDP decreases slightly

Investment is an out stable element of aggregate demand because is depends heavily on.

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Government policy

Expectations

National income

Historic trends

The index used most often to measure inflation is the

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Consumer price index

Wholesale price index

Student price index

Producer price index

The percentage change in the quantity demanded in response to a percentage change in the price is known as the.

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slope of the demand curve

Excess demand

Price elasticity of demand

All of the above

Indirect taxes are

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Direct taxes - subsidies

Subsidies

Sales taxes

Income taxes

Suppose that the supply curve of lin is highly inelastic if the demand curve of lin decreases and increases cyclically along the supply curve of lin then in this market the size of the quantity fluctuations will be _____ the size of the price fluctuations.

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Relatively greater than

Relatively less than

the same as

Any of the above

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

In order to constitute an oligopolistic market structure.

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There must be a few firms in a given relevant market

There must be a few firms selling in a national market

There must be more than 20 firms selling in the international market

There must be fewer than 15 firm is any given market

An economics variable that moves in the same direction as aggregate economic activity is called.

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Countercyclical

Procyclical

A cyclical

A leading variable

In _________ the government replaced the development board with a new autonomous body called the planning board.

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1951

1952

1953

none of the above

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