Question # 1

Which of the following is an automatic stabilizer.

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Unemployment benefits

Spending on education

Defense spending

Net interest

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

The equilibrium level of income is.

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Rs. 360

Rs.600

Rs.440

Rs.500

Islamic economics is a social science which studies the economics of people living within the frame work of.

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Islam

Nationalism

Arab nationalism

All of these

Which policies are expenditure changing policies.

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Currency devaluation and revaluation

Import quotas and tariffs

Monetary and fiscal policy

Wage and price controls

When investment is assumed to autonomous the slope of the AD schedule is determined by the.

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Marginal propensity to invest.

disposable income

Marginal propensity to consume

Average properisity to consume

Price elasticity at a given price is not affected by.

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The price of complements

The price of substitutes

The consumer's income

A change in supply

An increase in oil prices, such as the oil shocks in the 70 s, lead to _______ there by causing _____

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A movement along the AS curve cost push inflation

A leftward shift int he AS curve demand pull inflation.

A right ward shift in the AS Curve cost push inflation

a left ward shift in the AS curve cost push inflation

Human capital can be described as.

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The tools used by workers to entrances productivity

a persons inherited abilities.

The stock of expertise accumulated by a worker

Education

The research is a systematic gathering of information among individuals and collectives.

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Case study

Survey

Content analysis

Census Report

An increase income will

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Lead to a movement along the demand curve

Shift the supply curve

Shift the demand curve

Lead to an extension of demand

Substance forming is found in

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South Asia

Central Africa

Both a and b

None of these

As a plural noun, who defined statistics very adequately and realistically

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Webster

Bowley

A.M. Tuttle

Prof. H. secrist

It provides systematic knowledge on problem and issues analyzed.

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Research report

Research proposal

Research abstract

Research design

In the short term a firm will produce provided the revenue

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Covers fixed costs

Covers variable costs

Covers total costs

Covers revenue

In a fixed exchange rate regime, the central bank will intervene by __ pounds to ______ the exchange rate.

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Selling, increase

buying , increase

selling, reduce

both b and c

From of Agriculture in which famers move from place to place in search of better land is called.

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Subsistence farming

Shifting cultivation

Shifting agriculture

All of these

The economic growth model of Ricardo based on.

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Capital formation

Diminishing retune

Capital output ratio

None of these

Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.

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The household and government sectors

The household sector

All sectors except the rest of the world

All sectors including the rest of the world.

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

Comparing a monopoly and a competitive firm the monopolist will.

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Produce less at a lower price

Produce more at a lower price

Produce less at a higher price

Produce less at a lower price

The arrangement were goods imported from trading partners in the developing world are subject to lower tariff rates than good from other countries is referred to as.

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Normal trade relation status.

Most favored nation status

Generalized system of Preferences.

Offshore assembly provisions

If the international terms of trade settle at a level that is between each country's opportunity cost.

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There is no basis for gainful trade for either country

Both countries gain from trade

Only one country gains from trade

One country gains and the other country loses from trade

the ouput where diminishing return to production begin is also the ouput where

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Marginal cost is at a minimum.

Average total cost is at a minimum

Average variable cost is at a minimum

Marginal and average

If the price elasticity of demand for a non giffen good is inelastic are decreased in its price result in.

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Increase in demand

Decrease in demand

Increase in total revenue

Decrease in total revenue

According to the factor endowment model of Hackshcer and Ohlin countries heavily endowed with land will.

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Devote excessive amounts of resources to agricultural production.

Devote insufficient amounts of resources to agricultural production

Export products that are and intensive.

Import products that are land intensive

Unlimited supply of labor means in developing countries that part of man power which even if is withdrawn from the process of production there will be no fallen output is the theory of.

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Fei Rani

M.PP. Todaro

Lewis

Leibstein

The main assumption of Kaldor model is that the economy operates at the level of .

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Full employment

Above than full employment

Less than full emplyment

None of above

Economic growth can be measured by

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The CPI

The CBI

GDP

MPC

According to the factor price equalization theorem, the ______ factor should oppose free trade policies in any given country.

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Abundant

scarce

Neither

Can't tell without more information

A welfare less occurs in monopoly where

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The price in greater than the marginal cost

The price is greater than the marginal benefit

The price is greater than the average revenue

Has the right to investigate monopolies and will assess each one on its own mertis

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