Question # 1

An intensive study of particular case is.

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Content analysis

Case study

Research design

intensive study

The earliest statement of the principle of comparative advantage in associated with

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Adam Smith

David Ricardo

E . Heckscher

Bertil Ohlin

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

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Worse off, worse off

better off, better off

better off, worse off

equal , unequal

In monopolistic competition, firms desire to sell more output at equilibrium because.

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Price is greater than average cost

Price is greater than average variable cost

Price is greater than marginal cost

Price is equal to marginal revenue

As the MPS increases, the multiplier will

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Increase

Either increase or decrease depending on the size of the change in investment

Remain constant

Decrease

To anticipate what the economy is going to do next the government will look at.

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Lagging indicators

Flashing indicators

Coincidental iindicators

Leading indicators

In an open economy leakages to imports ______ the value of the multiplier.

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Reduce

Increase

do not change

None of these

A competitive equilibrium is described by

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A price only

A quantity only

The excess supply minus the exceess demand.

A price and a quantity

When supply increases in an agricultural market famer's earnings might fall because.

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Supply is price elastic

Demand is price inelastic

the government buys up all the excess production

All output must be sold at a maximum price

The tax is question 52 is

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Progressive's

Regressive

Proportional

None of these

"Human Welfare is the subject of Economics" Y. This statement is associated with the name of which of the economists.

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Marshall

Pigou

Pension

All of the above

___________ are quotas that lead to a complete abolishment of trade.

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Nontariff barriers

Embargoes

Voluntary export restraints

Orderly marketing agreements

To stabilize the prices of primary products international commodity agreements have utilized all of the following except.

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Tariff -rate quotas applied to imported goods.

Production and export controls.

Buffer stocks

Multilateral contracts

A nation experiences internal balance if it acieves.

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Price stability

Full employment and price stability

Unemployment and price instability

Full employment

If the quantity of money demands is less than the quantity of money supplied then the interest rate will.

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Either increases or decrease, depending on the amount of excess demand.

Increase

Decrease

not change

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

A straight line downward sloping demand curve implies that as price falls the elasticity of demand.

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Increases

Decreases

Remain the same

None of these

A proposition which can be putto test to determine validity

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Hypothesis

Operational definition

Data collection tool

Research design

Headquarter of the Planning commission of Pakistan is located in.

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Karachi

Lahore

Islamabad

None of these

__________ policies attempt to foster industrialization by establishing high barriers to import of foreign goods to promote local production.

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absolute advantage

Comparative advantage

Export led growth

Import substitution

Which of the following is not a macro economic issue.

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Unempolyment

Inflaction

The wages paid to footballers

Economic growth

For perfect competition ot work there must be

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Many buyers and sellers

A standard product

Free entry and exit

All of the above

A situation in which firms choose their best strategy given the strategies chosen by the other firms in the market is called.

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a competitive equilibrium

An open market solution

The Nash equilibrium

The cartel equilibrium

the_____________ analysis considers the ability of domestic and foreign prices to adjust to devaluation in the short run.

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Pass through

Absorption

Adjustment mechanism

currency contract period

To be considered a good candidate for an export cartel a commodity should.

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Be a manufactured good

Be a primary product

Have a high price elasticity of supply

Have a low price elasticity of demand

Last land reforms made in 1977 by

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Z.A.Bhutto

Zia ul Haq

Nawaz Sharif

None of these

The theory that is equilibrium workers wages will barely be adequate for biological needs is knows as the.

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Labor theory of value

Convergence hypothesis

Subsistence theory of wages

Indicative planning model

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

Devaluation of rupee would result into

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Expensive exports

Expensive imports

Expensive labour

Overvalues Rupee

The equilibrium inflation rate is determine by the intersection of __________ and ___

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demand, supply

IS , LM

AD, AS

Labour demand, labour supply

If labour productivity per week is 200 units and there are 5 employees what is the total output.

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40 units

195 units

1000 units

200 units

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