Question # 1

A combination labour and capital where the cost of an output is minimized is called.

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Optimum factor combination

Good combination

Least combination

Substitutes combination

Resources in an economy

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Are always fixed

Can never decrease

Always increase over time

Are limited at any moment in time

Which industrialization policy has developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation.

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Export promotion

Import substitution

International commodity agreements

Multilateral contrracts.

The marginal propensity to consume in a less Developed Country is likely to be.

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_{Less than 0}

Nearly 0

High

Low

When considering any kind of economics indicator, prices are important because.

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They reflect the value of goods and services.

They are established by the government to control population 's needs

They categorize goods and services by their weight

Historically they have proved to the good predictors of futures unemployment.

The largest trading partner of Pakistan is

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Italy

US

USA

None of these

Fact is empirically verifiable observation is defined by

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Good and Halt

Claver

P.V.Young

Emory

Economic growth rate of a country is determined by the

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Capital formation rate

Employment rate

Saving rate

Investment rate

In the short run if price falls the firm will respond by

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Shutting down

Equating average variable cost to marginal revenue

Reducing output along its marginal cost curve as long as marginal revenue exceed average variable cost

None of the above

The demand for labor is the same as the

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Marginal revenue product

Marginal physical product

Marginal cost

Wage

Net National product equals.

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Gross national product minus indirect business taxes

Gross national product minus depreciation

National income minus indirect business taxes

National income pluses depreciation

A monopsony is

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The scale supplier of an input

The scale supplier of an output

The sole buyer of some type of input

A unionized industry

Unknown values in an equation are called.

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Constants

Numeraire

Variables

All of the above

Economic development in UDCs is not possible without.

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Foreign aid

Capital formation

Natural resources

Domestic saving

In substitution effect a consumer

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Shifts away from the commodity which price has risen

shifts in favor of commodity which price has risen

shifts away from the commodity which price has fallen

None of these

When supply increases in an agricultural market famer's earnings might fall because.

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Supply is price elastic

Demand is price inelastic

the government buys up all the excess production

All output must be sold at a maximum price

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

Which of the following is not a supply side measure.

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Increased training

Providing more information

Helping individuals to move location to find work

Increasing spending on existing industries.

Object of case study is to.

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Gueralise theory

Datives theory

Expand theory

Flexible data collection

"Zakat" is a charity on.

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Wealth / income which stays with a Muslim for at least one year

Levied on a Muslim who is sahib e Nisab

Deducted at the rate of 2.5% of the income

All of the above

Which of the following rights be a scarce good.

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Love

faith

Self control

All of above

"Far better for central bankers to get out of the fine tuning business instead they should d try to keep.

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Taxes low

Budgets balanced

Money growth low

Government spending in check

What characteristics is likely to increase population grotwth.

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Family planning programs

Old age social security

Lack of women's empowerment

Rapid economic growth

Large difference is inflation rates among countries are almost always the result of large difference in.

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Productivity

Real income growth

The growth rates of real money demand

The growth rates of nominal money supplies

An item designed as money that is intrinsically worthless could the.

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A currency note

A silver coin

A barter item

Any tradeable commodity

R.M. Solow in his model assumes that the prices and wages are.

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Flexible

Non flexible

Rigid

None of these

How do the banks gain from this corporate behavior.

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More loans can be made

Tax free profits can be made

Interest rates can be increased

By circumvent banking regulations

If the government increase spending and raises taxes by just enough to finance the increase it will.

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Leave output unchagned

Increase output

Reduce output

Increase the MPC

An autonomous increase in the value of the domestic exchange rate.

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Increases output net exports and the interest rate.

Decreases output net exports and the interest rate

Decreases output and net exports and increases the interest rate.

Increase output and decreases net exports and the interest rate.

Expansionary monetary policy

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Tends to lead to an appreciation of nation's currency

Usually has no effect on a currency's exchange value

Tends to lea dto a depreciation of the currencies of other nations

Tends to lead to a depreciation of a nation's currency.

At the intersection of AD and AS equilibrium is achieved in.

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The goods market

The money market

The labour market

All of the above

Research simply mesa a search for.

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Problems

Facts

Results

Topic

The overall Budget Deficit is financed from

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External borrowing

Non bank borrowing domestically

Bank borrowing plus the above two at a and b

None of the above

Islam is against

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Miseries

Luxurious spending

a and b

None of these

"An Enquiry into the Nature and causes of wealth of Nations" is thebook of economist.

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Adam smith

Marshall

Robbins

None of above

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