Question # 1

Economics growth can be seen by an outward shift of.

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The production possibility frontier

The gross domestic barrier

The marginal consumption frontier

The Minimum Efficient scale

To anticipate what the economy is going to do next the government will look at.

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Lagging indicators

Flashing indicators

Coincidental iindicators

Leading indicators

The Philips curve shows the trade off between ________ and _____

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The inflation rate, interest rates

The inflation rate, the unemployment rate

interest rates, output

Output, employment

Firm A's annual profit is.

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Rs.10,000

Rs.20,000

Rs.30,000

Rs.60,000

World Bank was established at the Briton wood conference in.

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1942

1944

1943

1940

A decrease in autonomous consumer expenditure causes the equilibrium level of aggregate output to __________ at any given interest rate and shifts the ___ curve to the __________

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rise ; LM ;right

rise ; IS ; right

Fall ; LM ; left

rise ;IS; Left

Which of the following represents monetary policy geared to increases the supply of money.

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The purchase of bonds by the Federal Reserve Bank

The sale of bonds by the Central Bank

An increase in reserve requirement

A decrease in taxes

When equilibrium in the money and goods markets occurs at a rate of interest below the BP schedule internal and external equilibrium for the United States can he achieved by.

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Expanding the U.S. money supply

Increasing government spending

Increasing taxes

Lowering interest rates in the united states.

If the income elasticity of demand is +4

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The good is an inferior good

The good is an inelastic normal good

The good is an elastic normal good

the good is an elastic inferior good

The concept of unbaled growth and balance growth are.

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Unlimited value

Single value

Limited value

Short value

Government policies that focus on increasing production rather than demand are called.

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Fiscal policies

Monetary policies

Incomes policies

Supply side policies

Astory is a starting point of.

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Experimental design

Quantitative research

Scientific method

Narrative method

If a firm triples all inputs and output triples as well the firm is subject to

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Constant returns to scale

Increasing returns to scale

Economies of scale

Both b and c

If the coefficient of income elasticity is negative.

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Inferior good

Normal good

Luxury good

All of these

Total Share of agricultural sector in employment is.

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60%

43%

55%

None of these

Who advocates laissez fair.

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Monetarists

Classical

Neo classical

Modern

Fiscal policy refers to the manipulation of government income and expenditure to.

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control the volume and price of money

Limit the rate of increaes in incomes

Effect the value of the dollar on world financial market.

Affect the level of total expenditure output and employment

International trade forces domestic firms to become more completive in terms of.

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The introduction of new products

Product design and quality

Product price

All of the above

If average variable cos tis less then marginal cost then certainly.

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Per unit total cost is rising

Per unit total cost is constant

Per unit total cost is falling

Per unit variable cost is rising

In perfect competition there is.

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Many buyers

Many sellers

Homogeneous product

All of these

The Laffer curve depicts

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A trade off between tax rates and government receipts

Price levels and real income

government deficits and unemployment

Tax rates and infixation

If there is a price floor there will be.

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Shortages

Surpluses

Equilibrium

All of these

Which policies are expenditure changing policies.

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Currency devaluation and revaluation

Import quotas and tariffs

Monetary and fiscal policy

Wage and price controls

The price of Ketchup at a market increases by 12.5% per can, which results in a decrease in quantity purchased by 40% per week, the demand is.

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Relatively elastic

Relatively inelastic

Perfectly elastic

Perfectly iinelastic

A tariff that prohibits imports has only

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a revenue effect and redistribution effect

Revenue effect and protection effect

Consumption effect and protection effect

Redistribution effect and consumption effect

When a person received an increase in wealth, what is likely to happen to consumption and saving.

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Consumption increase and saving increases.

Consumption increases and saving decreases

Consumption decreases and saving increases

Consumption decreases and saving decreases

Pure research also known as

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Fundament research

Action research

Practical research

applied research

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

Historically countries at early stages of rapid economics development have tended to experience.

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Trade deficits and an excess of investment over domestic saving.

Trade surpluses and an excess of investment over domestic saving

Trade deficits and an increase of domestic saving over investment.

Trade surpluses and an excess of domestic saving over investment.

The ancient Greek philosopher who tried to analyze isolated exchange because markets with standardized products were relatively rare during his are was.

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Plato

Aristotie

Euclid

Protagoras

Which of the following characteristics if Islamic economic system is true

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An Islamic state is essentially a welfare state.

Ensure social justice

All economic problems are solved in the light of moral values

All of the above

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