Question # 1

If two sets contains the same number of distinct elements but not the same elements are called.

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Pie diagram

Venn diagrams

Histogram

Ogives

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)

If A is a square matrix of order ' n' and lis the unit matrix of the same order then A 1 is equal to.

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A

1A

1

Both a and b

Social science research is a systematic method o exploring, analyzing and extend, corrector or verify knowledge of human behavior and.

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Aqua life

Natural life

Social life

Envioment

In 1950's special imporant was given to

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Industrial sector

Services sector

Imports sector

Agricultural sector

Naveed purchases product M for which his income elasticity of demand is negative Apparently product M is.

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A necessity

An independent good

An inferior good

A luxury good

If the price level for an economy was 100 in 1984 , 115 in 1985 and 125 in 1986 the rate of inflation between 1985 and 1986 was.

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105

8%

8.7%

17.5%

The imposition of a tariff causes consumption to _______ and imports to.

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rise , rise

fall , rise

fall , fall

rise , fall

A vertical demand curve results in.

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No change in quantity when the supply curve shifts.

No change in price when the supply curve shifts

No change in the supply curve being possible

No change in quantity when the demand curve shifts.

Given the above demand and supply equations for widgets, the equilibrium price and quantity is.

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P = Rs. 20, Q = 60

PO = Rs. 60, Q, = 20

P Rs. 35, Q = 45

P - Rs. 12, Q = 88

When world trade organization replace GATT.

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1 January 1995

1 January 1994

1 December 1997

1 Jun 2000

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

The long run Philips curve is _________ at the ______

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Horizontal natural rate of inflation

Horizontal , natural rate of unemployment

Vertical , natural rte of inflation

Vertical , equilibrium rate of unemployment.

Fiscal policy is purposeful movements in _____designed to direct an economy

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Interest rate

Legal structures

Government regulations

D Government spending and taxes

The quantity of Y demanded increases by 6% when income changes, and income elasticity of demand is -0.9 income

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Decreased by 5.4 %

Decreases by 8%

Increased by 15%

Decreased by 6.7 %

If the production function is Q = 8 KL the marginal rate of technical substitution of labor for capital is.

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8

K/L

L/K

B/KL

A decline in the money supply shifts the LM curve to the left causing the interest rate to ________ and output to___

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rise ; rise

rise ; fall

fall ; rise

fall ; fall

A multinational busniess

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Sells products abroad

Produces in more than one country

Imports from abroad

Sells only domestically

Those who argue in favor of import protection generally give the impression that such restricted trade will.

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Decrease the level of national security

Provide benefits to some particular industry

Provide benefits to the entire nation

Not yield welfare losses for the nation

The largest trading partner of Pakistan is

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Italy

US

USA

None of these

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

Find the change in revenue to the industry due to the taxs.

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Rs. 40 billion

Rs. 34 million

Rs.25 million

Rs.36 Million.

Normative economics form ______ based on.

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Positive statements facts

Opinions, personal values

Positive statements values

Opinions facts

In oligopoly market seller are.

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Few

Four

Some

A large number

Perfect competition implies

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Homogeneous goods

Inferior goods

Superiors goods

Differential goods

An increase in investment is most likely to be caused by.

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Lower interest rates

Lower national income

A decreasing the marginal propensity to consume

An increase in with drywalls.

Which of the following is not likely to be a government objective.

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Increasing employment

Increasing economic growth

Increasing government spending

Increasing the level of exports

Net National product equals.

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Gross national product minus indirect business taxes

Gross national product minus depreciation

National income minus indirect business taxes

National income pluses depreciation

An increase in government spending causes the equilibrium level of aggregate output to_______ at any given interest rate and shifts the ____ curve to the

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rise ; LM ; right

rise ; LM ;Left

fall ; IS ; Left

rise ; IS ;right

Measure of skewness gives.

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Direction of skewness

Extent of skewness

Both a and b

None of these

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