Question # 1

Super Natural power, divinity, and gifts of nature are integral to the explanations of economic events developed by.

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Physiocrais

German historicists

Modern monetarists

Mercantilists

If the economy grows the government's budget position will automatically

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Worsen

Improve

Stay the same

Increase with inflaction

Under perfect competition, the price system automatically result in efficient output selection when

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MC = MR

MC = MU

P = ATC

P > AVC

The marginal product of labor

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Is measured by the slope of the production function relating capital of employment

Is larger when the labor supply is relatively larger

Is smaller when the labor supply is relatively smaller

Decreases as the number of workers already employed increases

In the Harrod - Domar equation g = s/v , v is defined as.

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the value of the country a capital stock

The ratio of the country's capital stock to its output.

The change in the country's capital stock

None of the above

Law of variable proportion is also called.

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Law of non proportion returns

Law of substitution

Law of casts

Law of demand

If consumers spend 15 million a month on CDs, regardless of whether the prrice they pay goes up or down that implies that their price elasticity of demand for CDs is.

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0

1

Infinite

15

Disposable income is.

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Income less taxes

Income less direct taxes

income less indirect taxes

All of these

The quantity of money demanded varies

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Directly with both prices and output

Inversely with both prices and output

Directly with prices and inversely with output

Inversely with prices and directly with output

According to Islamic economic system the producers can earn.

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Normal loss only

Normal profit only

Abnormal loss

Abnormal profit

Scientific social survey and Research is written by

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Best John

Emory

Bedrove school

P.V. Young

The elements in the Horizontal line in a matrix is called.

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Columns

Rows

Elements

Diagonal

Forced labor is one of the greatest injustice in the world according to.

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Imam Abu Yousaf

Imam Abu Qasim

Khalil Jabran

Ibn e Khaldun

If there is a financial panic and increased uncertainty about the return in the stock market and bond market what is the likely effect on money demand.

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Money demand declines first then rises when inflation increases

Money demand rises

The overall effect its ambiguous

Money demand declines

In a free market

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Government intervene

Government plan production

Government interfere

Price adjust to reconcile scarcity and desires.

In an economy experience high interest rates and high unemployment The ISLM frame work predicts that _________ policy has been too.

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fiscal ; expansionary

fiscal ; contractionary

monetary ; expansionary

monetary ; contractionary

Objectivity means basing conclusions on facts without any bias and.

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Pilot study

Paradigm

Value judgment

Concept

An increase in the expected rate of inflation would.

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shift the Philips curve upward

shift the phillips curve downward

Shift the long -run phillips curve to the right

Shift the long-run phillips curve to the left

In the circular flow diagram firms.

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Receive revenue and supply resources in the resource market

Incur costs and demand resources in the resource market.

Receive revenue and demand resources in the product market.

Incur costs and supply goods and services in the product market.

If there is a price floor there will be

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Shortages

Surpluses

Equilibrium

None of these

When economists say that a per son is economizing they mean that the person is.

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making choices to gain benefits at lowest possible cost

Making a lot of money

Purchasing goods that are generic cheap or of low quality

Learning how to run a business more effecitively

About __________ of land is cultivated through irrigation water.

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75%

45%

60%

35%

The Ad, SRAS ,and LRAS curve each show a relationship between which two economic variables.

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The aggregate price level and output

The aggregate price level and the interest rate

Output and unemployment

Output and the interest rate.

In the circular flow we would expect leakages to __________ injections.

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equal

be less than

by greater than

Be less or greater than

Credit (+) items in the balance of payments correspond to anything that.

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Involves receipts from foreigners

Involves payments to foreigners

Increases the domestic money supply

Decrease the demand for foreign exchange

An increase in the price of a complement or produce.A would.

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Shift demand for product a out wants

Shift demand for product A inwards

shift supply for product A out wards

Shift supply for product A inwards

Interview guide leaves as a suggestive reference or prompter during.

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Interview

Field note

Diary

Interview schedule

Scarcity means that

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We cannot have everything that we might want

We have to make choices between the things we desire.

There are costs to just about any activity we undertake

We must give up some thing in order to obtain other things.

All of the above are correct

An Engel curve is based on which one of the following assumptions.

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Constant prices, very incomes

Constant price, constant income

Constant incomes, varying prices

None of these

The standard of living is often measured by

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Real GDP per capita

Real GDP

Real GDP * Population

Real GDP Plus depreciation

Non proportional random sampling is a sub type of.

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Unrestricted random sampling

Simple Random sampling

Stratified Random sampling

Cluster Random sampling

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