Question # 1

If the price level for an economy was 100 in 1984 , 115 in 1985 and 125 in 1986 the rate of inflation between 1985 and 1986 was.

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105

8%

8.7%

17.5%

To basic objective of sampling study is.

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To draw inference

To check units of population

To collect numerical data

To make census

Contextual analysis is a type of

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Descriptive analysis

Historical analysis

Case study

Content analysis

If a Set C contain all the elements which are present in both the set A and B then set C is called.

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Union of A and B

Intersection of A and B

Complement of A

Complement of B

According to classical models the level of employment is determined primarily by

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Interest rates

The level of prices

The level of aggregate supply in the economy

The level of aggregate demand for goods and services

When the S/L exchange rate rises the pounds______ and whent he S/L rate falls the pounds.

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depreciates, appreciates

revalues, devalues

appreciates, deprecates

becomes more expensive, becomes cheaper

The purpose of fiscal policy is to

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Alter the direction of the economy

Change people's attitudes toward governemnt

Educate people as to the importance of economics

Offer insight into the way thing work

When the period of Rabi crops starts and when it end.

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October - May

January - October

May- October

June - September

In a free market

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Government intervene

Government plan production

Government interfere

Price adjust to reconcile scarcity and desires.

Research may be made through either arbitrary method of

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Rational method

Scientific method

Imagination method

Vague method

"An Enquiry into the Nature and causes of wealth of Nations" is thebook of economist.

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Adam smith

Marshall

Robbins

None of above

The near term effect of an unexpected sale of bonds by the central bank is.

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An increase in interest rates, a risen investment and a rise in GDP

An increase in interest rates a drop in investment and a drop in GDP

A decrease in interest rtes a rise in investment and a rise in GDP

A decrease in interesr rates a drop in investment and a drop in GDP

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

For perfectly competitive firm

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Price equals marginal revenue

Price is greater than marginal revenus

Price equal total revenue

Price equals total cost

A supply schedule shows the relations between the quantity supplied of a commodity over a given time and.

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Factor prices

Technology

Both a and b

The price of the commodity

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

According to the cost based definition of dumping dumping occurs when a firm sets a product abroad at a price that is less than

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Average total cost

Average variable cost

Average foxed cost

Marginal cost

A monopoly there is

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No difference between firm and industry

A few firms

Lot of firms

none of these

If the reserve deposit ratio is 0.25 and the ratio of currency in circulation to deposits is 0.3, the potential money multiplier will have a value of.

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2.36

0.42

1.20

0.96

A country that is a net international debtor initially experiences a.

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Larger savings pool available finance domestic spending

Higher interest rate which leads lower domestic investment.

Loss of funds to trading partners overseas

Decrease in tis services exports to other countire.

Environmentalist speak of wilderness as a.

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Animal hertage

Moralists heritage

Environmental heritage

World heritage

Find the change in revenue to the industry due to the taxs.

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Rs. 40 billion

Rs. 34 million

Rs.25 million

Rs.36 Million.

Laboratory experiments cannot be performed in economics because.

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Of resource scarcity

Economics is a natural science

Of the difficulty of distinguishing between normative and positive statements.

Economics is a social science

A tax increase __________ disposable income ____ consumption expenditure and shifts the IS curve to the.

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Increase; increases ; right

Increase ; decreases ; left

decreases ; increases ; left

decreases ; decreases ; left

By restricting labour supply a trade union can _________ and_______

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Increase the wage, increase employment

Maintain the wage, increase employment

Increase the wage lower employment

Maintain the wage, lower employment

According to Keynes, the level of employment is determined by

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Interest rates

The level of prices

The level of aggregate supply in the economy

The level of aggregate demand for goods and services.

The term of trade is given by theprices.

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Paid to all goods exported by the home country

Received for all goods exported by the home country

Received for exports and paid for imports.

Of primary products as opposed to manufactured products.

Aggregate demand will increase if

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Consumption falls

Investment falls

Exports fall

imports fall

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.

The book Summa Theologica ' ws written by

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Plato

Aristotie

St. Thomas Aquinas

St. Augustine

What did economist Adam Smith identity as the "invisible hand" that directs the decision making of firms and households in a market economy.

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Government

Product demand

Self interest

International trade

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