Question # 1

Which of the following could be a reason for the problem of lack of jobs being overestimated.

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the existence of disguised unemployment

People are underemployment

People holding only one job

The existence of child labour

Money must fulfill all of the following functions except.

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Be a medium of exchange

Be a store of value

Be generally accepted as a means of purchasing commodities

The above are all functions of money

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

Scarcity means that

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We cannot have everything that we might want

We have to make choices between the things we desire.

There are costs to just about any activity we undertake

We must give up some thing in order to obtain other things.

All of the above are correct

Which of the following best defines price discrimination.

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Charging different prices on the basis of race

Charging different prices for goods with different costs of production

Charging different prices based on cost of service differences.

Selling a certain product of given quality and cost per unit at different prices to different buyers

Specific tariffs are collected as

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Fixed amount of money per unit traded

a percentage of the price of the product

A percentage of the quantity of imports

All of the above

Which among the following is the sensible theory of sampling.

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Induction

Inertia

Regularity

None of the above

Which of the following is NOT characteristics of underdeveloped nations.

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Low per capita income

Low growth rate of GNP

General needs for substantive investment in the infrastructure

Low population growth rates

The ethics, importance is given tobio sphere and the large eco system.

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Life centered animal

Ecological holism

Environmental

animal

A linear function of the form 6x2 - 2y + 8 = 0 is known as.

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Explicit function

implicit function

Quadratic function

All of the above

The first five year plan 1955-60 was prepared by the board and was released in.

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1956

1957

1958

None of the above

A fall in interest rates is likely to

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Increase aggregate demand

Increase savings

Decrease consumption

Decrease exports

The method most commonly used to test the overall significance of a regression is.

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The t test

The F -test

Chi square test

R

To basic objective of sampling study is.

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To draw inference

To check units of population

To collect numerical data

To make census

Since 1960, the rate of economic growth in the country has been

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On the decline continuously

Increasing continuously

Increasing occasionally

Static in real terms

Information that is represented usually as words, not numbers.

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Qualitative data

Quantitative data

Primary data

Scientific data

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 Ad, SRAS ,and LRAS curve each show a relationship between which two economic variables.

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The aggregate price level and output

The aggregate price level and the interest rate

Output and unemployment

Output and the interest rate.

Estimation is the process of.

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Formulating some hypothesis about the population

Inferring statistic from parameter

Testing some hypothesis about eh population

Inferring parameter from statistic

In Vann diagram the universal set is represented by

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Points within a rectangle

Points within a circle

Both a and b

None of these

In a free market

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Government intervene

Government plan production

Government interfere

Price adjust to reconcile scarcity and desires.

Which of the following is not a primary cause of business cycle fluctuations according to real business cycle theory.

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A change in the production function

A change in the size of the labor force

A change in the money supply

A change in the real quantity of government purchases

If the columns of a given matrix A and B are changed into rows and vice versa, the matrix thus obtained is called the.

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Symmetric matrix

Transpose of a matrix

Singular matrix

Rank of matrix

Globalization is likely to increase with

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More protectionism

An increase in tariffs

More trade within countries

Greater trade flows between countries

When unintended investment is positive

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Output tends to rise

Output tends to fall

Output is in equilibrium

None of these

Policy of nationalization was adopted in the period of.

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Z.A. Bhutto

Nawaz Sharif

Zia ul Haq

All of them

Which exchange rate mechanism calls for frequent redefining of the par value by small amounts to remove payments disequilibrium.

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Dual exchange rates

Adjustable pegged exchange rates

Managed floating exchange rates

Crawling pegged exchange rates.

The risk free rate of interest would not be affected by.

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Changes in real output

Change in the money supply

Term to maturity

None of the above

Macro economics deals with

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Only the decisions made by individuals and their results.

Only the decisions made by businesses and their results.

Mostly large scale decisions made by countries and governments, and their results.

Only the decisions made by individuals but not the results.

Compared to the case of perfect competition, a monopolist is more likely to

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Charge a higher price

Produce a lower quantity of the product

Make a greater amount of economic profit

All of the above

the_____________ analysis considers the ability of domestic and foreign prices to adjust to devaluation in the short run.

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Pass through

Absorption

Adjustment mechanism

currency contract period

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