Question # 1

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 very thing which permitted people to settle permanently in one location with the assurance of food is.

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Tools

Fishing

Agriculture

None of these

a possible use in encomia's for the circle or the ellipse is to model.

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Production possibility curve

Demand cuve

Isocost liine

Supply curve

in 1950s following sector was ignored

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Agriculture sector

industrial sector

import sector

Services sector

when there is huge change in demand following method is used to measure elasticity of demand.

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Percentage method

Arc method

Point method

Other method

An increasingly higher marginal income tax is

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Progressive

Regressive

Proportional

Both b and c

According to the balances growth theory

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UDCs can be developed by foreign aid

UDCs can be developed by national saving

UDCs have to start from beginning

DCS are responsible for the development of UDCs

If your income during one year is L 10,000 ad the following year it is L,12,000 then it has grown by

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20%

2%

12%

15%

Production of vegetables and fruits is termed as

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Vegetative propagation

Truck forming

Both a and b

None of these

Export led growth strategies tend to emphasize.

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Resource allocation based on the principle of absolute advantage.

Resource allocation based on the principle of comparative advantage.

Trade protection for exporting competing firms

Trade protection for import competing firms

Moral Hazard means that the act of insuring __________ that the desired outcome will occur.

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Reduces the likelihood

Increase the likelihood

Guarantees

None of the above

Per Capita income is obtained by dividing National income by

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Total labor Force in the country

Unemployed Youth in the country

Total population of that country

None

When Daimler Benz maker of the Mercedes bought Chrysler the merger was

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Horizontal

Vertical

Conglomerate

None of these

Which trade policy results in the government levying both a specific tariff and an advalorem tariff on imported goods.

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Compound tariff

Nominals tariff

Effective tariff

Revenue tariff

A depreciation of the dollar willhave its most pronounced impact on imports if the demand for imports is.

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Constant

Inelastic

Elastic

Unitary elastic

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

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Primary products

Intermediate products

Manufactured products

Financial services.

Which among the following is the sensible theory of sampling.

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Induction

Inertia

Regularity

None of the above

The prisoners Dilemma Game demonstrates that.

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Players are better off to act independently

Monopoly is better than competition

People will always cheat

Players are better off if they con operate

Why might a country resist globalization.

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Greater choice of final products

Greater choice of supplies

Greater competition for domestic firms

More markets to sell to

A tariff that probibits imports ahs only

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A revenue effect and redislnbution effect

Revenue effect and protection effect

Consumption effect and production effect

Redistribution effect and consumption effect

Economic planning by enteral government agencies is primarily associated with

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command economies

Market economies

Laissez faire economies

Market faire economies

If there is cyclical unemployment in the economy the government might.

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Increase interest rates

Encourage savings

Cut taxes

Reduce government spending

Keynesian economists think general equilibrium is not attained quickly because.

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The real interest rate adjusts slowly

The level of output adjusts slowly

The real wage rate adjusts slowly

The price level adjusts quickly

Which of the following does not result in an increase in U.S. autonomous net exports.

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The U.S. dollar depreciated

Major trading partners stimulate their economy

Foreign currencies depreciate

Foreign trading partners lift tariff barriers

The nation, that, following currency depreciation, the balance of trade falls for a while before increasing is called a ________ effect.

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Relative price

Elasticity

J- Curve

Pass through

A bonds becomes a riskier asset the demand for money_______ and all else constant, the equilibrium interest rate

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Rises ; rises

rises ; falls

falls ; rises

falls ; falls

The idea that the natural rate of unemployment rises when the acual rate of unemployment rise is known s.

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Stabilization

Insider outsider theory

Hysteresis

an efficiency wage model

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

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Agriculture

Banking

Industry

Manufacturing

Which of the following is the second law of gossen.

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Law of equal marginal utility.

Law of equi product

Theory of indifference curve

Law of diminishing marginal utility.

For a given positively sloped supply curve the price increase to consumers resulting from a specific tax imposed on sellers will be.

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Greater the more price elastic demand is

Greater the less price elastic demand is

Equal to the entire tax when demand is perfectly elastic

Equal to half of the tax whenever demand is unit elastic

Suppose the government provides a tax cut today that is matched by a tax increase in the future that's equal in present value to the tax cut This causes a consumer's saving to.

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Decrease

Increase

Remain unchanged

Increase if the person was a lender and decrease if the person was a borrower

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