Question # 1

Primary producers maybe labeled as.

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White coliar workers

Pink collar workers

Red collar workers

None of these

A square matrix A, such that A = A ' is called a

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Symmetric matrix

Skew symmetric matrix

Singular matrix

Rank of a matrix

The econometric problem of errors in variables leads to

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Ballasted estimates of regression coefficients.

Autocorrelation

Unbiased estimates of regression coefficients but non minimum variance of estimated coefficients.

None 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

Which of the following is an example of government policy that could reduce inflation.

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Increasing bank lending

increasing import duties

Reducing government expenditure

Reducing direct taxation

When there is no change in central banking holding of international reserve balances a country's

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Trae balance always equals 0

Current account balance always equals 0

Capital account balance always equals 0

Balance of payments always equal 0

From a Keynesian perspective business investment will de cline as a result of.

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A fall in the interest rate

A decrease in business taxes

A decline in business expectations

Acceleration of business depreciation

Output fell sharply in the transition economies because.

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Banks were undoable to function

There was little corporate control

Vital infrastructure was missing

All of the above

If the price was fixed below the equilibrium price there would be.

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Excess supply

Excess demand

Equilibrium

Down ward pressure on prices

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

Bank and other corporations were nationalized by

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Z.A. Bhutto

Nawaz sharif

Zia ul Haq

None of these

Kharif crops include.

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Cotton and rice

Maize and Sugarcane

Jawar and Bajra

all of the them

A matrix with all elements zero other than all the diagonals is called.

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Diagonal matrix

Orthogonal matrix

Unit matrix

Column vector

AB = BA = 1 , then B is said to

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Ad joint of matrix of A

Inverse matrix of A

Determinant of A

Cofactor of a

If A, B, C and D are any four market baskets, and if the consumer has ranked them so that D is preferred to C, A is hot preferred to B, and B is not preferred to c then.

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A is preferred to C

A is preferred to D

B is preferred to D

D is preferred to A

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

Disinflationary demand management policies.

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Achieve a lower rate of inflation without causing a decreases in output.

Reduce output but have no initial effect on the inflation rate

Require an increase in government spending.

Require a reduction in the growth rate of the nominal money supply.

The reduction or covering of foreign exchange risk is called.

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Hedging

Speculation

Intervention

Arbitrage

The gain from international trade are closely related to.

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the labor theory of value

How much the autarky price differs from international terms of trade change.

The fact that a country must lose from trade

All of the above

Ordinal measurement approach was not presented by

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Allen

Hicks

Edge worth

Robbins

In Islamic economic system following means of gaining wealth are permitted

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smuggling

Hoarding

Gambling

None of these

In long run a reduction in labor supply would cause output to __ and the aggregate price level to.

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fall ; rise

fall ; fall

rise ; fall

rise ; rise

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

Who stated statistics as 'aggregate of knowledge brought together for practical ends.

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W.I. King

A.L Bowley

Prof. H secrist

None of the above

In a less developed country.

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The infrastructure is likely to be good.

Real wages are likely to be high

Unemployment is likely to be low

The primary sector is likely to be significant

Why is the law of diminishing marginal returns ture.

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Specialization and division of labor

Spreading the average fixed cost

Limited capital

All factors being variable in the long run

A polynomial equation with degree two a called.

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Linear equation

Quadratic equation

Parabola equation

All of the above

Research is directed towards the solution of a

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Problem

Hypothesis

data

Survey

The commission's authoritative figures include a Chairman who is the_____ assisted by the deputy chairman and a science advisor.

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Prime Minister

President

Chairman Senate

None of these

The ____ lag for fiscal policy is generally _____ than it is for monetary policy.

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Recognition ; shorter

Recognition ; longer

Implementation ; shorter

Implementation ; longer

The short run supply curve for a competitive industry is derived by.

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Horizontally summing the marginal cost curves for each firm in the industry

Horizontally summing the average variable cost curves for each firming the industry

Vertically summing the marginal cost curves for each firm in the industry

None of the above

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