Question # 1

the mar mist theory of dialectical materialism theoretically follows a sequence

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synthesis thesis antithesis

Antihesis synthesis thesis

thesis antithesis synthesis

synthesis antithesis thesis

A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.

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Descriptive economics

Normative economics

Macro economics

Micro economics

An optimal tariff is one which reduces imports to the level at which ___ equals

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imports , exports

The balance of trade, zero

The demand for currency, the supply of currency

Social marginal cost social marginal benefit

Which of the following is not an element of the redistribution with growth policy approach.

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Minimum wage legislation

Land refrom

Progressive taxation

Increased access to education

The socially optimal rate of growth is

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Zero

Negative

Where the marginal social benefit the marginal social cost

total social costs are minimized

According to the law of diminishing utility.

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Utility is at a maximum with the first unit

Increasing units of consumption increase the marginal utility

Marginal product will fall as more units are consumed

Total utility will rise at a falling rate as more units are consumed

Research based on empirical evidences and.

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scientific experience

Political experience

Rational experience

Observable experience

The Hocksher Ohlin model rules out the classical model's basis for trade by assuming that. _______ is identical between countries.

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Factor endowments

Factor intensities

Technology

Opportunity costs

Economic growth is shown on the production possibility frontier as.

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The curvature of the PPF

An inward shift in the PPF

An outward shifts in the PPF

A movement from one point on the PPF to another

Social science Research

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Explain Problem

diagnosis problem

Recommend problems

Formulate probelms

"Transactions" money is money used as a

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Store of value

Unit of account

Medium of exchange

Standard of deferred payment

Which is refers to any collection of specified group of human beings.

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Sampling

Random sampling

Non probability sampling

Population

The renowned economist and Islamic scholar who applied principles of politics economics was.

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Imam Abu Haneefa

ibn e Khaldun

Imam Abu Yousaf

Abu Qasim

Which of the following would qualify as an aggregate supply shock.

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An unexpected increase in oil prices

Seasonally expected increase in oil prices

An unexpected reduction in consumer confidence

an anticipated tax cut

Immediately after a through we would expect to have al

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Peak

Recession

Recovery

Another trough

The firms average variable cost of the 150th unit is.

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Rs.15

Rs.17

Rs.20

Rs.9

The price elasticity of demand is teh same thing as the negative of the

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Slope

Reciprocal of slope

The first derivative of the demand function

Reciprocal of slope times the ratio of price to quantity

The marginal rate of tax paid is.

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The total tax paid /total income

Total income/total tax paid

Change in the tax paid/change in income

Change in income/change in tax paid

" A growing number of economists view the Fed's new willingness to take on more of the nation's debt as inflationary in the long run." This inflation worry is because.

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The government may tax less

The debt may become excessive

The government may spend more

The money supply may increase excessively

Wassily Leontief used an input output table in order to test the.

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Richardian theory of comparative advantage

Heckscher Ohlin theory of comparative advantage.

Linder theory of overlapping demand

All of the above

The largest source of tax revenue for the federal government is.

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The personal income tax

The social security tax

The property tax

The sales tax

Injection into the circular flow are _________ and _______

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Consumption, investment, exports

Investment exports, transfer payments

Investment government expenditure, exports.

Taxes, exports, transfer payments.

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

A price cross elasticity of 0.81 between X and Y shows that.

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They are complementary goods

They are competitive substitutes

They are not substitutes

a reduction in the price of one would cause an increase in the consumption of the other.

Which of the following is not one of the basic economic questions.

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What is produce

Who to produce for

How to produce

How to maximize economic growth

If the price in a market is fixed by the government above equilibrium.

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There is excess equilibrium

There is excess supply

There is excess demand

There is equilibrium

If any equation involving two variables, such as y -=2x + 1, the variable that appears on the right hand side of the equation is by convention called.

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Dependent variable

independent variable

Endogenous variable

Explained variable

In the ISLM frame work a contractionary fiscal policy causes aggregate output to ___________ and the interest rate to

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Increase ; increase

Increase ; decrease

decrees ; decrease

decrease ;Increase

During inflation.

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Lenders lose borrowers gain.

Borrowers lose , lenders gain

The real interest rate rises

Borrowers and lenders both lose.

A concept which can take on different quantitative values is called a.

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Variables

Control groups

Values

paradigm

Statistics should be capable of.

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Empiricism

systematic inquiry

Comparison

Evolution

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