Question # 1

Which of the following is not an obvious or direct determinant of a country's imports.

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Real exchange rate

Income

Tariff rates

Interest rate

Which of the following is true about skewed distribution.

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It is symmetrical

Mean, median and mode concede

Similar to normal distribution.

The more mean moves away from mode larger skewness

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

Perfect competition implies

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Homogeneous goods

Inferior goods

Superiors goods

Differential goods

Given the demand and supply cautions qo = -8p + 2000 and qs = 12 p - 200 respectively the equilibrium price.

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p = 100

p = 110

p = 120

p = 140

When a tax is levied on a good.

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The market price falls because demand declines.

The market price falls because supply falls.

A wedge is placed between the price buyers pay and the price sellers receive

The market price rises because demand falls.

Those who argue in favor of import protection generally give the impression that such restricted trade will

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Decrease the level of national security

Provide benefits to some particular industry

Provides benefits to the entire nation

Not yield welfare losses for the nation

While resources and products flow in one direction of the circular flow model what flow the other direction.

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Services

Public goods

Money

Imported goods

The classical are of the view that utility can be.

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Ranked

Counted

Expressed in numbers

Not counted

Which of the following changes shifts the SRAS curve up.

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Ani increases in the labor force

A decrease in government purchases

An increase in firms costs

An increase in the money supply

Qualitative research focuses primarily on the meaning of.

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Subjective attributes of individuals groups

Objective attributes of individuals or groups

Facts of Indi duals or groups

Descriptive attributes of individuals or groups

A reduction in the costs of production will

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Lead to a movement along the supply curve

Shift the demand curve

Shift the supply curve

Lead to an extension of supply

Economists use the term utility to mean

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The value of a product before it has been advertised

The satisfaction a consumer obtains from a good or service

any characteristic of a good or service which cannot be measured

The contribution a good or service makes to social welfare

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%

The cliche that "the punishment should fit the crime" originated in the writing of.

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Plato

Thomas Aquinas

Jeremy Bentham

David Hume

The regression results indicate that the standard error of estimate is.

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135.94

16.06

28.98

4.27

The retail price index is used to.

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Construct price lists

Compare shop prices

Measure changes in the cost of living

None of the above

The factor endearment model of international trade was developed by.

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Adam Smith

David Ricardo

John Stuart Mill

Eli Heckscher and Beril Ohlin

A matrix with all elements zero other than all the diagonals is called.

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Diagonal matrix

Orthogonal matrix

Unit matrix

Column vector

In Pakistan government budget is prepared by.

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National Assembly

President of Pakistan

Ministry of finance

State bank of Pakistan

An -increase the expected future price of a good.

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Increases its demand

Decreases its demand

Increases its supply

Has no effect on either its demand or its supply.

Matrix multiplication does not satisfy

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Associative law

Distributive law

Commutative law

None of the above

The public sector includes.

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Investors owning companies

Government ownership of assets

Market forces of supply and demand

All trade via barter

Identify the three motives of money demand.

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Accumulative

Speculative precautionary

Speculative transaction precautionary

Precautionary special trisection

in The Liquidity trap region

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Fiscal policy is not effective

Monetary policy is completely ineffective

Monetary policy is completely effective

Fiscal policy and monetary policy are equally effective

Livestock is

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An independent sector

Sub -sector of agriculture

Should be a part of Agriculture

Would become a part of Agriculture

Academic community is otherwise called.

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General public

Target audience

Participant audience

Scientific community

Which of the following is incorrect with respect to the consumption diagram.

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the interest rate is a premium

MRS = (i +r)

The consumer will be lender in time zero

The consumer lends 700

A rise in the price of bond causes the yield of the bond to.

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Rise

Fall

Remain unchanged

Rise uf ut's a short term bond, fall if it's a long term bond

Total revenue equals

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Price Plus quantity

Price multiplied by quantity sold

Price divided by the quantity sold

Price minus quantity sold

The natural rate of unemployment is generally thought of as the

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Ratio of the frictional unemployment rate to the cyclical unemployment rate.

Sum of fictional unemployment and cyclical unemployment.

Sum of frictional unemployment and structural unemployment.

sum of structural unemployment and cyclical unemployment.

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