Question # 1

Kharif crops include

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Rice and sugarcane

Cotton and maze

Bajra and Jawar

All of them

Which of the following is not an element of the redistribution with growth policy approach.

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Minimum wage legislation

Land refrom

Progressive taxation

Increased access to education

Government policies that focus on increasing production rather than demand are called.

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Fiscal policies

Monetary policies

Incomes policies

Supply side policies

Which of the following measures is the best measure of money as a medium of exchange.

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M1

M2

M3

None of the above

The short run aggregate supply curve the absence of misperceptions.

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Is vertical

Slopes upward

Is horizontal

Slopes downward

All of the following are debit items in the balance of payment eexcept.

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Capital outflows

merchandise exports

Private gifts to foreigners

Foreign and granted to other nations

A state of government bonds by the central bank should cause

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Bond prices to rise

an increase in the supply of money

An increase in chartered banks loans

A decrease in reserves of the banking system.

In the long run in perfect competitiion

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the price equals the total revenue

Firm are allocatively inefficient

Firms are productively efficient

the price equals total cost

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.

The price elasticity of demand measures

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The responsiveness of quantity demanded to a change in prie.

How far a demand curve shifts

A change in price

A change in quantity demanded

The values are represented by identical symbol or pictures.

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Bar charts

Pictograms

Circle charts

graphs

in GDP 24% share comes from

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Services sector

Import sector

industrial sector

Agriculture sector

Which of the following would qualify as an aggregate supply shock.

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An unexpected increase in oil prices

Seasonally expected increase in oil prices

An unexpected reduction in consumer confidence

an anticipated tax cut

Which of the following is a function of money

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Medium of exchange

Store of value

Unit of accounting

All of the above

If government spending of Rs. 10 and a lump sum tax of Rs.10 is added, the empirical equation for the new IS curve becomes.

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Y = 285 + 20 I

Y = 270 - 10 i

Y = 285 - 50 i

Y = 210 - o.5 i

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

If a firm which polluted the water of area had to pay all social cost would have

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Small output

Large output

Heavy output

B and C

The organization that currently establishes rules of conduct for firms engaging in international trade is the.

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World Bank

International Trade commission

Department of Justice

World Trade Organization

A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.

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Descriptive economics

Normative economics

Macro economics

Micro economics

The term of trade is given by the process.

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Paid for 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 product as opposed to manufactured products.

The difference between what consumers have to pay for a particular and what they are willing to pay is known as.

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Consumer surplus

Producer surplus

Dead weight costs

Dead weight surplus

In 25 years Pakistan's Per capital income

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More than doubled

Less than doubled

Did not show more than 70% increase

None of the above

If the demand curve for a good is downward sloping then the good must be.

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Normal

Inferior

Giffen

Either a or b

All of the following are recognized as arms of agricultural price program except.

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Dampening the fluctuations agricultural commodity price.

Maintaining some purchasing power of agricultural households

Shifting the elastic demand for agricultural commodities.

Appeasing some politically powerful special interest grops

Zakat in an important feature of Islamic economics system which is given from

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Poor to rich

Producers to consumers

Banks to people

Rich to poor

Suppose taht an exise tax is imposed on the monopolist's product if the monopolist's marginal cost is horizontally the relevant range, which of the following statements must be true.

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The price will increase by an amount less than the tax

The price will increase by an amount equal to the tax

The price will increase by a amount greater than tax

The price may either increase or decrease

Similar to import tariffs import quotas tend to result in.

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Higher prices ad reduced imports

Increased government revenue

Increases consumer surplus

Decreased producer surplus

The investment demand curve shifts right ward if

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The real interest rate falls

Savers increase their thriftiness

The expected profit rate increases.

The economy moves into a recession

The bowed shape of the production possibilities curve illustrtres.

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The law of increasing marginal cost

the production in inefficient

That production is inattainable

The demand is relatively inelastic

In the ISLM frame work an expansionary fiscal policy causes aggregate output to _________ and the interest rate to.

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increases ; increase

increases ; decrease

decreases ; decreases

decreases ; increses

In autarky equilibrium.

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Production equals consumption

Export equal inmprts

There is no trade

All of the above

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