Question # 1

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve.

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At their lowest points

When they are declining

When they are increasing.

When marginal revenue is zero

Profit is measured by

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Revenue - Fixed costs

Fixed cost + revenue

Revenue - sales

Revenues - total costs

Holding all other factors constant consumers demand more of a good the

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Higher its price

Lower its price

Steeper the downward slope of the demand curve

Steeper the upward slope of the demand curve

Deep ecology places emphasis upon

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Life

Man

Environment

Relationship

All currencies other than the domestic currency of a given country are referred to as.

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Reserve currencies

Neal monies

Foreign exchange

Hard currency

With no government and foreign trade sectors savings always equals.

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Intended investment

Realized investment

Botha a and b

None of these

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

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135.94

16.06

28.98

4.27

When total utility becomes maximum then marginal utility will be.

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Minimum

Average

Zero

Negative

For a positively skewed distribution.

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mean > mode ? median

mean > median > mode

mode > mean > median

mean < mode < median

Which of the following is automatic stabilizer.

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Unemployment benefits

Spending on education

Defense spending

Net interest

Why would corporations want to achieve zero balances in their checking accounts.

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To earn more interest

To avoid paying taxes

to keep a low profile

To circumvent banking regulations

The most important determinant of price elasticity is.

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The slope of the demand curve

The availability of substitutes

The price of other goods

The income of the consumer

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a

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Domestic subsidy

Export subsidy

Import quota

Export quota

Empirically verifiable observation is

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Values

Theory

Fact

Hypothesis

In singular sense 'Statistics' is considered as.

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Statistical data

Statistical methods

Both a a and b

None of these

What the process of summarizing raw data and displaying them on compact statistical table for further analysis.

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Statistical analysis

Data processing

Tabulation

Table construction

The tax is question 52 is

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Progressive's

Regressive

Proportional

None of these

An allocation is Pareto efficient if no reallocation of resources would make some people_______ whiteout making others

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Worse off, worse off

better off, better off

better off, worse off

equal , unequal

Which of the following the most elastic demand the extra revenue a firm receives from the services of an additional unit of a factor of production.

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Total revenue

Marginal physical product

Marginal revenues product

Marginal revenue.

What is the refers to any collection of specified group of human beings

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Sampling

Random sampling

Non probability sampling

Population

When the supply of money increases.

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The LM curve will shift in

The LM curve will shit out

The demand for money will decrease

The demand for money will increase

Medieval scholastics, early Islamic thinkers, and Aristotie all agreed that.

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Payments of interest should be prohibited.

Commerce was modeled on a circular flow

Surpluses are enhanced throgh skilled management.

All of the above

Believers in the monetarist rule assert that

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Lags are long and variable

the economy cna be stabilized by automatic mechanisms

The central bank should keep the money supply growth constant

All of the above

Ahmed regression model yields a Durbin Watson d statistic whose value is 0.002. The results indicate.

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Positive serial correlation

the presence of multicollinearity

No serial correlation

Negative serial correlation

A movement along the demand curve may be caused by

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A change in income

A change en the number of buyers

A change in advertising

A shift in supply

The practice of using fiscal and monetary policy to stabilize the economy is known as.

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Fine turning of deamand

Monetarism

Laissez faire economics

Supply side economics

Given the Is -LM construction of the figure above an unexpected increase in the price level, in the absence of any policy adjustment will.

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Increase both interest rates and GNP

Reduce both interest rates and GNP

Increase GNP but cause interest rates to tall

Increase interest but cause GNP to fall.

A Market situation where the number of buyers is very large and the number of sellers are very small is called.

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Perfect competition

Duopoly

Oligopoly

In perfect competition

If the economy grows the government's budget position will automatically

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Worsen

Improve

Stay the same

Increase with inflaction

The locus of equilibrium of consumers due to changes in price of a commodity is known as.

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Price consumption curve

Income consumption curve

Producing possibility curve

None of these

According to the Laffer curve as tax rates increase tax revenues.

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Decrease continuously.

Initially decrease and then increase

Rise continuously

Initially increase and then decrease

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