Question # 1

The monopolization of the competitive market results in a deadweight loss to society of

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RSJK

JKL

THJ

RSJL

The economists who emphasized wage flexibility as a solution for unemployment were.

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Monetarists

New keynesians

Classical economists

Keynesians

If there is a price celling there will be

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Shortages

Surpluses

Equilibrium

None of these

An increase in consumption at any given level of income is likely to lead to.

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a fall in savings

An increase in exports

A fall in taxation revenue

A decrease in import spending

"Principles of economics" is the book of

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Robbins

Adam smith

Hicks

Marshall

Marginal utility is equal to average utility at that time when average utility is.

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Increasing

Maximum

Falling

Minimum

"Treating an individual as typical of a group.

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Pure discrimination

statistical discrimination

Human capital

Specific skills

It is the collection of data concerning the living and working conditionals of the people in a given community

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Samplin g

Case study

Social survey

Data collection

The purpose of financial intermediaries is.

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To allow more saving than investment

To discourage consumption spending

To collect income taxes for the government

To serve are middlemen between savers and borrowers.

The IS curve shifts to the left when

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Taxes increase

Government spending increase

The money supply increases

All of the above occur

Total factor productivity growth is that part of economic growth due to.

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Capital growth plus labor growth

Capital growth less labor growth

Capital growth times labor growth

Neither capital growth nor labor growth

The concept of carbon credit originated from which one of the following.

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Earth summit rio de jeneiro

Kyoto protocol

Montreal protocol

G-8 summit Helligendamm

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

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The upward accelerator

The downward multiplier

The upward PPF

The downward MPC

Which of the following can the government not use directly to control the economy.

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Pay rates within the privates sector

Pay rates in the public sector

Investment in education

Benefits available for the un employed and sick

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

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Marginal propensity to invest.

disposable income

Marginal propensity to consume

Average properisity to consume

In 1960s following policy was adopted regarding development

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Port substitution

Agriculture development

Export promotion

All of these

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.

Duopoly is a market situation when there is

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Single seller

Many seller

Two seller

Few seller

Statistics is one of those science which are only indicative of a trend, therefore

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It is probabilistic than deterministic

It is deterministic than probabilistic

a definite data collection method is unnecessary

Data sources should be clear

Applied research is problem oriented and

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Analytical directed

Scientific procedure

Scientific research

Action directed

First land reforms made by Ayub Khan in

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1965

1970

1962

1958

Which of the following correct about firms in an oligopoly.

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Each firm has complete control over its own selling price

All firms independently charge monopoly prices

No one firm controls price but each has an influence on the price

There is no competition in oligopoly industries

In the Keynesian cross diagram an increasing investment spending because companies become more optimistic about investment profitability causes the aggregate demand function to shift ______ and the equilibrium level of aggregate output to rise and the IS curve to shift to the

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up ; right

up ; left

down ;left

down ; right

Money is

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An indicator of the scarcity of wants

Anything that sellers accept i exchange for goods and services.

A form of barter

Anything that the government classifies as a trade commodity.

The short run aggregate supply curve the absence of misperceptions.

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Is vertical

Slopes upward

Is horizontal

Slopes downward

Allocative efficiency is achieved under which of the following market structures.

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Perfect competition

Monopolistic competition

Oligopoly

Monopoly

Appreciation of the U.S. dollar results in.

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U.S. tourists traveling abroad being worse off

U.S. imports increasing.

Foreign currency buying more U.S. goods and services.

No change iin foreign pucchases or sales.

The resources in the economy do not include.

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Demand

Land

Labor

Capital

During the early years of the Great depression there was a significant decrees n the the money supply that causes. the ______ to shift____

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IS ; Leftward

IS ; rightwards

LM ; Leftward

LM ; rightward

R.M. Solow in his model assumes that the prices and wages are.

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Flexible

Non flexible

Rigid

None of these

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.

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the average cost of labour

The marginal product

The marginal revenue

The total cost of labour

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