Question # 1

Last land reforms made in 1977 by

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Z.A.Bhutto

Zia ul Haq

Nawaz Sharif

None of these

The supply of foreign currency tends to be

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upward sloping

down ward sloping

Vertical

any of the above

__________ policies attempt to foster industrialization by establishing high barriers to import of foreign goods to promote local production.

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absolute advantage

Comparative advantage

Export led growth

Import substitution

Desired national saving would increase unambiguously if there were

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An increase in current output and expected future output

An increase in expected future output and government purchases

An increase in expected future output and the expected real interest rate

A fall in both government purchases and expected future output

The conditions necessary for a firm to be able to price discriminate include.

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Segment able markets

Difference in price elasticity of demand among the segments

The inability of customers to transfer products

All of the above

To be considered a good candidate for an export cartel a commodity should.

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Be a manufactured good

Be a primary product

Have a high price elasticity of supply

Have a low price elasticity of demand

Which of the followings is NOT component of M-2

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Small time deposits

Money market mutual funds

Stocks

Checkable deposits

Social welfare is maximized when a hedonistic calculus regulates all human action according to the interventionist liberal

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John Stuart Mill

Thorstein veblen

Milton Frideman

Jeremy Bentham

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

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

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inflationary expectations

Unemployment

The inflation rate

Wage rates

When aggregate economic activity is declining , the economy is said to be in.

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A contraction

An expansion

A trough

A turning point

Interview guide leaves as a suggestive reference or prompter during.

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Interview

Field note

Diary

Interview schedule

Deflation occurs only when

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Some prices fall but average prices still rise

All prices for all goods fall

The average price level falls

The average price level increases bat at a slower rate than before

If there is a price floor there will be

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Shortages

Surpluses

Equilibrium

None of these

Which of the following products will have an elastic demand.

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Flour

Cloth

Honda city

None of these

The IMF gives

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Short term credits

Short term and long term creditors

Both long term credits

None of these

The aggregate supply of labor is the

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Total amount of time a person works over his or her lifetime

Total amount of time a person spend in the labor force over his or her life time

Unemployment rate

Sum of the labor supplied by everyone in the economy

The purpose of support price is to.

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Discourage former

Encourage consumer

Discourage consumer

Encourage farmer

Demand for a normal product may shift outwards if.

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Price decreases

The price fo a substitute falls

the price of a complement rises

Income falls

A monetary expansion is characterized by

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Rising output and interest rates

Rising output and falling interest rates.

Constant output and falling interest rates

Falling output and interest rates

Weighted monetary aggregates

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Ignore the fact that some assets are more money like than others.

Are constructed by simply adding up the outstanding amounts of various types of asssets

Give greater weight to currency than to savings deposits

Value coins more than currency.

A model of game theory of oligopoly is known as the

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Prisoner's dilemma

Monopoly cell

Jailhouse sentence

Jury box

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 macroeconomic variables is procyclical and lags the business cycle.

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Business fixed investment

Empolyment

Stock prices

Nominal interest rates

When planned saving equals Rs.40+0.20 Yd and planned investment is rs. 60, the equilibrium level of income in.

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Rs. 100

Rs. 400

Rs.500

Rs.1000

A Political problem with discretionary fiscal policy is the.

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Contractionary bias

Big state bias

Expansionary bias

Over reaction bias

It is a process of checking to detect and correct errors and omissions.

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Coding

Editing

Analysis

Classifications

The price elasticity of demand is teh same thing as the negative of the

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Slope

Reciprocal of slope

The first derivative of the demand function

Reciprocal of slope times the ratio of price to quantity

The expected profit from the profit distribution above is.

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40 units

60 units

100 units

20 units

If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.

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40

¹²⁰

80

None of the above

A nation experiences internal balance if it acieves.

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Full employment

Price stability

Full employment and price stability

Unemployment and price instability

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