Question # 1

Improved training of employees would.

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Shift aggregate supply to the right

Shift aggregate supply to the left

Shift aggregate demand to the right

Shift aggregate demand to the left

An increase in costs will

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Shift aggregate demand

Shift aggregate supply

Reduce the natural rate of unemployment

Increases the productivity of employees

The purpose of making assumptions in economic model building is to.

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Force the model to yield the correct answer

Minimize the amount of work an economist must do

simplify the model while keeping important details.

Express the relationship mathematically.

A decrease iin money demand other thing equal shifts the _____ curve to the

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IS ; right

Is ; Left

LM ; Left

LM ; Rfight

A _________ is a regional trading block in which member countries eliminate intercanal trade barriers but maintain existing barriers against countries that are not members.

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Free trade area

Customs union

Common market

Monetary union

A tax of 17 percent per imported item would be an example of a

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Ad valorem tariff

Specific tariff

effective tariff

Compound tariff

Direct investment and security purchase are classified as.

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Capital account transactions

Current account transactions

Unilateral transfer transactions

Merchandise trade transactions

In the efficiency wage model with the efficiency wage above the market clearing wage when employment is at its full employment level.

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Labor supply equals labor demand

There is an excess supply of labor

there is an excess demand for labor

There could be either an excess demand for or an excess supply of labor

Suppose your company is in equilibrium will its capital stock at its desired level A permanent increase in the depreciation rate now has what effect on your desired capital stock. i

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Raises it because the future marginal productivity of capital is higher

Lowers it because the future marginal productivity of capital is lower

Raises it because the user cost of capital is now lower

Lowers it beacause the user cost of capital is now higher

A profit maximizing firm will hire labor until _______ equal the

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Marginal revenue, marginal cost

Long run marginal revenue, long run marginal cost

Labour output ratio, capital output ratio

Marginal cost of labour, marginal revenue product

The most frequently occurring score in distribution.

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Mean

Mode

Median

Quartile

The values are represented by identical symbol or pictures.

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Bar charts

Pictograms

Circle charts

graphs

MC = MR= AR=AC = Price shows the longs run

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Monopolist firm

Oligopolistic firm

Competitive firm

Both a and b

Arne Naes founded the school of.

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Eco ethics

Deep ecology

Eco philosophy

Environmental ethics

The variable that stands alone on the left hand side of the equation such as y = 2x + 1 is known as.

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Dependent variable

Independent variable

Endogenous variable

Explained variable

An important feature of a___ is that the holder has the right , but not the obligation, to buy or sell currency

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Swap

Foreign exchange arbitrage

Foreign exchange option

Futures market contract

A change in autonomous spending is represented by.

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A movement along a spending line

A shift of a spending line

A change in a behavioral coefficient.

None of these

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

If the estimated values of Y and Py in 1987 are Rs. 30,000 and Rs. 8 respectively the marginal revenue of X is.

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260 - 160 x

420 - 4Qx

240 - 16 Px

80 - 4Qx

Efficiency wages are_______ that raise

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Low wages , employment

High wages, labor supply

High wages, productivity

High wages, employment

Islam is against

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Miseries

Luxurious spending

a and b

None of these

Per Capita income is obtained by dividing National income by

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Total labor Force in the country

Unemployed Youth in the country

Total population of that country

None

in the keynesian model in the short run the amount of employment is determined by the effective labor demand curve and the level of.

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Prices

Output

The real interest rate

The supply of labor

If a monopolist's has only fixed costs and chooses that output at which marginal cost equals price. it will

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Earn positive economic profits

Earn zero economic profits

Incur a loss equal to its variable costs

Incur a loss equal to its fixed costs

In a private sector model

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Household saving is a leakage from the circular flow

Investment is a spending injection

All of the above

None of the above

Adam smith includes in the model of economic growth following factors of production.

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Labor only

Capital only

Labor and capital

Labor capital and land

When the reserve requirement on checking deposits is 0.10 and the Federal Reserve purchases government securities values at Rs. 100,000, the MI money supply.

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Is unchaged

Increase by Rs.100,000

Increases by Rs. 1,000,000

None of these

If nominal GNP were Rs.1000 ballooning 1976 and Rs.2200 billion in 1986, and the implicit GNP deflator was. 1.2 in 1976 and 1.6 in 1986 concluded that .

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Real GNP increased by approximately Rs. 542 billion from 1976 to 1986

The price level fell from 1976 to 1986

Real GNP increased by 35%

Nominal GNP increased by 80%

Which refers to a scale with a set of points which describes varying degrees of the dimensions of an attribute observed.

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Rating scale

Score card

Check list

Observation

"No two elements of a set are identical" this statements is.

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Always true

Sometimes true

Not true

All of the above is possible

an asset that can easily be exchanged for goods and services is called a.

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Financial asset

Barter like asset

Illegitimate asset

Liquid asset

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