Question # 1

Which provides the best explanation of the failure of many poor countries to experience economic growth as rapid as the rich countries..

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Classical growth theory

Neoclassical growth theory

New growth theory

Market failure

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

Negative taxation refers to.

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Tax rebate

Subsidies

Tax evasion

Tax avoidance

Rorschach test comes under visual projective.

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method

research

techniques

Audio

Islam is against

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Miseries

Luxurious spending

a and b

None of these

in the keynesian model in the short run the amount of employment is determined by the effective labor demand curve and the level of.

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Prices

Output

The real interest rate

The supply of labor

Who is regarded as the founder of theory of sets.

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Adam Smith

Karl Frederich Gauss

George cantor

Euller

The NAFTA is a

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Monetary union

Free trade area

Common market

Customs union

Which provide a shorthand summary of data.

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Frequency table

Simple table

Cross table

Two way table

The gain from international trade are closely related to.

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the labor theory of value

How much the autarky price differs from international terms of trade change.

The fact that a country must lose from trade

All of the above

Who among the following is a proponent of bio centrism

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Aido Leopoid

Arne Naess

Paul Taylor

None of these

What is the possible cause for a falling real GNP over a period of time.

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A general fall in the value of output though changes in quantities producted.

A general increase in prices

An increase in the value of output produced and a general increase in prices

A, B and C

Why is the law of diminishing marginal returns ture.

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Specialization and division of labor

Spreading the average fixed cost

Limited capital

All factors being variable in the long run

What is the per unit marginal cost of increasing production from 20 to 25 units.

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Rs. 3,500

Rs.100

Rs.4,000

Rs.500

When plotted with the aggregate price level on the vertical axis and output on the horizontal axis which of the following curves is vertical.

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SRAS

AD

LRAS

None of the above

If some body is prepared to work at the going wage rate but cannot find work than they are victims of.

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Voluntary unemployment

Classical unemployment

Frictional unemployment.

All of the above

An independent assessment of the impact of firm's activities on society is called a.

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Financial audit

Balance sheet

Profit and uses account

Social audit

Which trade policy results in the government levying both a specific tariff and an advalorem tariff on imported goods.

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Compound tariff

Nominals tariff

Effective tariff

Revenue tariff

If the international terms of trade settle at a level that is between each country's opportunity cost.

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There is no basis for gainful trade for either country

Both countries gain from trade

Only one country gains from trade

One country gains and the other country loses from trade

If a Set C contain all the elements which are present in both the set A and B then set C is called.

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Union of A and B

Intersection of A and B

Complement of A

Complement of B

(A+B) + C =a +(B+C) This law of matrices is known as.

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Cumulative law

Associative law

Distributive law

Identity law

The central metaphor of deep ecology is.

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Network

Hierarchy

Patriarchy

Domination

If the MPC is 0.5 the multiplier is

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2

1/2

0.2

20

In contract to perfectly competitive markets monopolists

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Do no have to worry about market demand

Sell only if demand is inelastic

Can never incur an economic loss

Can earn an economic profit indefinitely

Which of the following NOT a source of economic growth.

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Investment in new capitals

Labor productivity

Investment in human capital

Technology advances

An increase in the wage rate.

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Will usually lead to more people employed

Will decrease total earnings if the demand for labour is wage elastic

Is illegal in a free market

Will cause a shift in the demand for labour

World environment Day is

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May 5

June 5

July 5

February 5

To be productively efficient a firm must produce where

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Marginal costs are maximized

Marginal costs are minimized

Average costs are minimized

Average revenue is maximized

In a command economy

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The price mechanism acts as an incentive

Resources are allocated by market forces

Individual firms make decisions for themselves about what to produce and how to produce it.

The public sector is large

An autonomous rise in the value of the Rupee makes Pakistan goods _____ expensive relative to foresight goods which ______ net exports

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Less ; decreases

Less ; increases

More ; decreases

more ; increases

"Economics is a science " the basis of this statement is.

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Relation between causes and effect

Use of deductive method and inductive method for the formations of laws

experiments

All of the above

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