Question # 1

A rise in the real exchange rate will __ the competitiveness of the domestic economy.

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Increase

reduce

do nothing do

all of these

"Economics is what economists do " It has been supported by.

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Richard jones

Comte

Gunnar Myrdal

All of the above

Indifference curve approach is also called.

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Law of diminishing marginal utility

Law of substitution

Ordinal measure approach

None of these

Which of the following would most likely shift the production possibilities curve for a nation outward.

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A reduction in unemployment

An increases in the production of capital goods

A reduction in discrimination

An increase in the production of consumer goods

The monetary base in composed of.

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Gold and silver

Currency only

Currency and reserves

Currency and checkable deposits

'Equal chance of being included in the sample", about what does Dr. Yates and Harper defined like this.

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Stratified sampling

Probability sampling

Proportional sampling

None of these

Perfect competition implies

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Homogeneous goods

Inferior goods

Superiors goods

Differential goods

An oligopolistic industry can be characterized by all of the following except

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May sellers

mutual interdependence

Economies of scale

A homogenous product

If two sets contains the same number of distinct elements but not the same elements are called.

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Pie diagram

Venn diagrams

Histogram

Ogives

Under land reforms celling of land was set as 150 acres of Un irrigated land by

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Zial ul Haq

Z.A.Bhutto

Nawaz Sharif

None of these

Money's primary role in the economy comes from the benefits of lowering transactions costs and allowing specialization This function of money is called.

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Store of value

Medium of exchange

Standard of deferred payment

Unit of account

It is a verbal method of searing data in the field surveys.

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Interview

Questinaire method

Participant observation

Projective technique

What adjusts to restore general equilibrium after a shock to the economy.

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The LM curve

The IS curve

The FE line

The labor supply curve

According to Okun's law an increase in the unemployment rate will cause_______ in the level of empolyment and __ in the level of output.

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An increase ; an increase

An increase; a decrease

A decrease ; an increase

a decrease ; a decrease

The% change in quantity demanded due to % change in incomes.

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Price elasticity

Prices cross elasticity

Income elasticity

All of these

Suppose a new law imposes a tax on all trades of bonds and stock What is the likely effect on money demand.

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Money demand declines first then rises when inflation increases

Money demand rises

The overall effect is ambiguous

Money demand declines

In the long run an increase in consumer spending would cause output to ________ and the price level to.___________

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rise;rise

rise; stay; constant

stay constant ; stay constant

Stay constant ; rise

Sum of squares of the deviations about mean is.

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Maximum

Minimum

zero

one

Super Natural power, divinity, and gifts of nature are integral to the explanations of economic events developed by.

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Physiocrais

German historicists

Modern monetarists

Mercantilists

A single value that represent the average characteristics of tis frequency distribution.

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quarterlies

Grouped data

Central tendency

Range

Which method is used for finding inverse of a matrix.

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Gauss elimination method

Henrich standard method

Co factor method

Both a and c

The socially optimal rate of growth is

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Zero

Negative

Where the marginal social benefit the marginal social cost

total social costs are minimized

Which method develop theories.

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Observation

Case study

Research

Survey

First Islamic banking branch of NBP started its operations in Karachi onDecember 15

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2004

2005

2006

2007

The demand for a product would be more inelastic.

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The greater is the time under consideration

The greater is the number of substitutes available to buyers

The less expensive is the product in relation to incomes

all of the above.

Sales taxes are generally considered to be.

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Proportional taxes

Regressive taxes

Progressive taxes

Indirect taxes

Japan's low interest rates in the mid 80's were due to.

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High rates of domestic savings.

A decrease in Japan's exports

Increases in the U.S. deficit

High rates of domestic spending in Japan

The "Law of demand" most directly means that consumers buy

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More of a good the higher their incomes, ceteris paribus.

Less of good the higher its price ceteris paribus

Buy more of a good the less is its supply ceteris paribus

Buy less of a good the greater is its supply ceteris paribus

The price elasticity of demand will increase with the length of the period to which the demand curve pertains because.

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Consumers incomes will increase

The demand curve will shift toward

All prices will increase over time

Consumers will be better able to find substitutes

A change that increase real money demand relative to the real money supply causes.

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The LM curve to shift down and to the right

The LM curve to shift up and to the left

The IS curve to shift down and to the left

The IS curve to shift up and to the right

Which of the following is a normative statement in economics.

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More spending by the government reduces poverty

Higher taxes lead to less desire to work

the UK Economy is growing fast relative to other European Union members

The Government should concentrate on reducing unemployment

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