Question # 1

Which of the following are function of inferential statistic.

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Estimation

Testing of hypothesis

both a and b

None of these

Research adopted by

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Scientific method

Political method

Invidia method

Public method

Data is collected with reasonable standard of.

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Numerical method

Feasibility

Accuracy

All of the above

If the central Bank wished to Tighten money is would.

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Lower the discount rate

Sell government securities

Lower the legal reserve ratio

Lower the tax rate

The current account includes

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The value of trade in merchandise

Services

Unilateral transfers

All of the above

The demand curve for labor for a monopolist when other inputs are fixed is equal to its

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Marginal value product curve

Marginal revenue product curve

Horizontal summation of the firms demand curve at different output prices

Marginal physical product curve

A monopoly market.

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Generally falls to maximize total economic well being.

Always maximizes total economic well being.

always minimizes consumers surplus

Generally falls to maximum produce surplus

Starting from a position of internal and external balance a reduction in aggregate demand will cause a current account.

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Deficit

Surplus

Revaluation

Devaluation

The question "What is living? is important in

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Eco centered ethics

Animal centered ethics

Life centered ethics

Human centered ethics

If input price adjusted very slowly to output prices, the Phillip's curve would be.

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Downward sloping

Vertical or nearly vertical

Upward sloping

Horizontal or nearly horizontal

The extent of variability is measured by

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Central tendency

Measures of dispersion

Arithmetic mean

Co relation

A reduction in the money supply is likely to

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Reduce interest rates

Increase the interest rate

Increase inflation

Decrease deflation

"Transactions" money is money used as a

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Store of value

Unit of account

Medium of exchange

Standard of deferred payment

The asset market approach is most helpful in explaining.

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Why exchange rate remain quite stable

Why government change their money supplies

Long term exchange rate movements

Short term exchange rate movements

The central economic problem in an economy refers to.

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The prevalence of unemployment

To allocate scarce resources between competing uses.

Consumers having less money than they would like

ensure that production costs are converted by sales revenue.

The short run Philips curve can shift in response to changes in

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inflationary expectations

Unemployment

The inflation rate

Wage rates

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

Based on the data above , the increase in potential MI would be

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Rs.50 billion

Rs.300 billion

Rs.60 billion

Rs.100 billion

From a Keynesian perspective business investment will de cline as a result of.

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A fall in the interest rate

A decrease in business taxes

A decline in business expectations

Acceleration of business depreciation

Rate of growth of an economy is measured in terms of

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Per capita income

industrial development

Number of people who have been lifted above the poverty line

National income

In the efficiency wage model if the real wage is higher than the market clearing wage so that there in an excess supply of labor.

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Firms will hire new workers at lower wages

Firms will replace high paid workers with low paid formerly unemployed workers

Employers will not hire workers who are willing to work for a lower wage.

Firms will demand a higher level of effort from existing employees

in 1950's industrial development was observes only in.

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Food industry

Textile industry

Coal industry

Cement indusry

Personal inocme is obtained by adding which items to national income

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Govt. transfer payments

Business transfer payments

Both a and b

None of these

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.

When there is a surplus in a market

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There is downward pressure on price

There is upward pressure on price

The market could still be in equilibrium

There are too many buyers chasing too few goods.

An increase in aggregate demand is more likely to lead to demand pull inflation if.

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Aggregate supply is perfectly elastic

Aggregate supply is perfectly inelastic

Aggregate supply is unit elastic

Aggregate supply is relatively elastic

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

If a maximum price is set below equilibrium there will be.

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A price fall

A price increase

Excess supply

Excess demand

Disposable income is obtained by subtracting ________ taxes from personal income

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Indirect taxes

Direct taxes

Subsidies

None

In Islamic economic system business is allowed in the field of.

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Halal goods only

beneficial goods

Consumer goods

All of these

During period of inflation

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Those people who have fixed incomes benefit

Every one's real income falls

those people who enter long term wage agreements benefit

Those people whose real income rises faster than the general price level benefit

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