Question # 1

Developing economies usually

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Have large industrialized sectors

Are dependent on primary products

Have high levels of wealth

Earn more from exports than is spent on imports

The hypothesis would the tested with

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A two tailed test

A one tailed test with the rejection region in the left tail

a one tailed test with the rejection region on the right tail

The normal distiribution

Find the revenue the government collects as a result of the tax

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Rs.10 million

Rs.40 million

Rs.16 million

Rs.30 million

A demand curve that is an equilateral hyperbola is.

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Perfectly elastic

Relatively elastic

Unit elastic

Relatively inelastic

To be productively efficient a firm must produce where

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Marginal costs are maximized

Marginal costs are minimized

Average costs are minimized

Average revenue is maximized

Unlimited supply of labor means in developing countries that part of man power which even if is withdrawn from the process of production there will be no fallen output is the theory of.

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Fei Rani

M.PP. Todaro

Lewis

Leibstein

Which one of the following is the largest sector of Pakistan Economy.

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Agriculture

Banking

Industry

Manufacturing

Money and income are.

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Mirror image of each other

Two quite different concepts

Both measured as a per annum flow

Two ways of looking at the same thing.

What happens to the money supply if the deficit is financed by selling bonds to the general public.

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The money supply increaes

The money supply decreases

The money supply is unaffected

We cannot tell what will happen to the money supply

In 25 years Pakistan's Per capital income

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More than doubled

Less than doubled

Did not show more than 70% increase

None of the above

The downward kinked demand curve facing the individual oligopolistic implies that

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He face price certainlty

Competitors have a tendency to follow price decreases but not price increase

Total revenue remains same if a firm increases price

None of these

Who among the following is a proponent of bio centrism

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Aido Leopoid

Arne Naess

Paul Taylor

None of these

If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of.

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a nonlinear relationship

A positive linear relationship

A scatter diagram

A negative linear relationship

In 1950's special imporant was given to

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Industrial sector

Services sector

Imports sector

Agricultural sector

Economics given can be shown by

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An inward shift of the production possibility frontier

A movement down the production possibility frontier

An outward shift of the production possibility frontier

A movement up the production possibility frontier

Floating exchange rates are __ in the short run

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Stable

Volatile

Predictable

Depreciating

National Income account of Pakistan have registered GDP & GNP as.

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GDP = GNP

GDP < GNP

GDP > GNP

GDP / GNP

If tastes are identical between countries than comparative advantage is determined by

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Supply conditions only

Demand conditions only

Supply and demand conditions

Can't tell without more information.

A firm's monopolistic position is strengthened by

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low elasticity of demand for its product

High elasticity of demand for its product

Constant elasticity of demand

None of the above

Given the data above, the empirical equation for the IS curve is.

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Y = 275 + 10 i

Y = 225 + 50 i

Y = 250 - 10 i

Y = 275 - 501

Which of the following is a normative statement in economics.

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More spending by the government reduces poverty

Higher taxes lead to less desire to work

the UK Economy is growing fast relative to other European Union members

The Government should concentrate on reducing unemployment

Keynes and Say's macroeconomic theory of employment were diametrically opposed Say state that.

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Supply creates demand

Demand creates supply

Unemployment is a most likely state of affairs

Full employment can only be achieved by government interference.

Second agricultural revolution came during

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Primitive age

Middle age

Modern age

None of these

The law of demand states that.

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As the quantity demanded rises, the price rises.

As the price rises the quantity demanded rises

As the price rises, the quantity demanded falls.

As supply rises, the demand rises.

The "compensated" demand curve is the demand curve that.

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Shows only the income effect

Shows only the substitution effect

Shows both the income and substitution effects

Shows the Geffen good demand curve

The Islamic mode of business where the subscriber participate with the money and the manager with skill and labor is.

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Qarz -e - hasna

Musharika

Mudaraba

Islamic business

In Vann diagram the universal set is represented by

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Points within a rectangle

Points within a circle

Both a and b

None of these

Industrial polices intended to foster comparative advantage for domestic industries could result in the implementation of.

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Research and development subsidies

Loan guarantees

Low interest rate loans

All of the above

"More reliable results can be obtained through sampling method" because.

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Statistical error is low

Saves time

Cost is low

None of the above

Capital goods are

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A type of intermediate good

Final goods, because they are not used up during a given year

Produced in the same year as the related final good whereas intermediate goods are produced in different years.

Produced in one year whereas final goods are produced over a period of more than one year

Reasoning from general to particular is called.

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Induction

deduction

Observation

Experence

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