Question # 1

Game theory

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Firm are assumed to act independently

Firms are assumed to cooperate with each other

Firm collude as part of a cartel

Firms consider the actions of others before deciding what to do.

If two sets contain the same distinct elements, then they are called.

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Equal sets

Unequal sets

Equivalent sets

All of the above

The investment demand curve shows the relationship between the levels of.

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Investment and consumption

Consumption and Interest rate

Investment and interest rate

None

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

Unemployment Rate is a percentage relation with reference is.

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Total population

Civilian labour force

Employed persons

Unemployed persons

Transit Trade Agreement between Pakistan and Afghanistan ws signed at Kabul on.

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March 2 , 1962

March 2, 1963

March 2, 1964

March 2, 1965

A checking deposit held at a commercial bank is considered ______ of that bank.

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An asset

Net worth

a liability

Capital

Average fixed cost

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Is U shaped

Declines over the entire output range.

Is a long run concept only

Is influenced by diminishing returns to production

Which of the following is an example of government policy that could reduce inflation.

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Increasing bank lending

increasing import duties

Reducing government expenditure

Reducing direct taxation

Why would corporations want to achieve zero balances in their checking accounts.

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To earn more interest

To avoid paying taxes

to keep a low profile

To circumvent banking regulations

The movement of disguised unemployment is.

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integrating factor

Social factor

push and pull factor

All of these

When the value of output exceeds planned spending .

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There is unsold output, and the level of income will fall

there is unsold output and the level of income will rise

There is unsold output, and the level of income does not change.

All of the above

The fifth five year plan was an attempt to stabilize the economy and improve the standard to living of the poorest segment of the population from __________ to ____

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1975-80

1980--85

1978-83

None of the above

An increase in money demand other thing equal shifts the ____ curve to the___

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IS ; right

IS ; Left

LM ; Left

LM ; right

If the autarky price of S were lower in country A than in country B, then if trade were allowed.

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A would likely exports s to B

A would likely import s from B

Neither country would want to trade

None of the above

A nation with a current account deficit will be

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Lending more money to other nations

Experiencing a surplus in exports of goods and services

Reducing its indebtedness to other nations

Going further into debt with other nations

Capital, as economists use the term.

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Is the money the firm spends to hire resources

Is money the firm raises from selling stock

Refers to the process by which resources are transformed into useful forms

Refers to things that have already been produced that are in turn used to produce other goods and services.

In oligopoly market seller are.

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Few

Four

Some

A large number

LDC's often have a comparative advantage in the production of.

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Primary products

Intermediate products

Manufactured products

Financial services.

The equilibrium price clears the market it is the price at which.

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Everything is sold

Buyers spend all their money

Excess demand is zero

c and d

A market demand curve can be derived by adding all the individual demand curves

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Vertically

Horizontally

In parallel

Any of the above as long as it is consistent

The marginal revenue curve in monopoly

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Equals the demand curve

Is a parallel with the demand curve

Lies below and converges with the demand curve

Lies below and diverges from the demeaned curve

The sacrifice involved when you choose a particular course of action is called the

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Alterative

Opportunity cost

Consumer cost

Producer cost

Money must fulfill all of the following functions except.

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Be a medium of exchange

Be a store of value

Be generally accepted as a means of purchasing commodities

The above are all functions of money

Short run contractionary Fiscal policy would result in.

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Aggregate demand moving to the right

Aggregate supply moving to the right

Aggregate demand moving to the left

Aggregate supply moving to the left

If there is a price celling, there will be.

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Shortages

surpluses

Equilibrium

None of these

More trade and more and is the demand made by the

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Developing countries

Developed countries

More developed countries

Non developing countries

When the marginal propensity to consume is 0.75 the multiplier has a value of.

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4

5

3

2

Head quarter of World Economic forum is situated in

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Devos

London

Geneva

New York

If the government increase spending and raises taxes by just enough to finance the increase it will.

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Leave output unchagned

Increase output

Reduce output

Increase the MPC

A tax cut __ disposable income _____ consumption expenditure and shifts the IS curve to the.

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Increases ; increases ; right

Increases ; decreases ; left

decreases ; increases ; left

decreases ; decreases ; right

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