Question # 1

Which of the following would decrease aggregate demand.

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Increased consumption

Increasing export revenue

Increased taxation revenue

Increased investment

Oligopoly is a market structure in which

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Many firms each produce a slightly differentiated product

One firm produces as unique product

A small number of firms compete

Many firms produce an identical product

"More reliable results can be obtained through sampling method" because.

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Statistical error is low

Saves time

Cost is low

None of the above

Which of the following solutions does the economist suggest to cost inflation in higher education.

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Cutting professor salaries

Make students live at home

Reduce college from four to three years

B and C

Under system fixed exchange rates which of the following policies promotes internal balance for a nation.

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Fiscal policy

Monetary policy

Both fiscal policy and monetary policy

Neither fiscal policy nor monetary policy

A determinant compose of all the second order partial derivatives, with the second order direct partials on the principal diagonal and the second order cross partials off the principal diagonal and which is used to second order condition of optimization is called.

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Jacobian determinant

Hessian determinant

Discriminant

None of these

Given the Is -LM construction of the figure above an unexpected increase in the price level, in the absence of any policy adjustment will.

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Increase both interest rates and GNP

Reduce both interest rates and GNP

Increase GNP but cause interest rates to tall

Increase interest but cause GNP to fall.

The impact and incidence of sales tax is

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On the consumer

On the seller

On the producer

None of these

The oldest basis of existence all over the world was.

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Fishing

Farming

Both a and b

None of these

Loss must be shared according to ratio of respective investment in case of.

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Musharika

Hire purchase

Mudaraba

All of these

If the expected inflation rate is unchanged a fall in the natural rate of unemployment would.

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shift the Phillips curve to the right

Not Shift the phillips curve

Shift the Phillips curve to the left

shift the Phillips curve to the left shift the long -run Philips curve to the right

What does Social Researchers seek out of vast and confusing variety of individual characters.

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Generalizations

Decisions

Single events

group characteristics

The natural rate of unemployment is likely to tall if

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Unemployment benefits increase

Income tax increases

More training is available for the unemployed

Geographical immobility increases

The are price elasticity of demand is approximately

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0.3

3.3

6.0

0.2

The arrangement were goods imported from trading partners in the developing world are subject to lower tariff rates than good from other countries is referred to as.

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Normal trade relation status.

Most favored nation status

Generalized system of Preferences.

Offshore assembly provisions

John Stuart Mill was the founder of the

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Theory of reciprocal demand

Theory of absolute advantage

Theory of comparative advantage

Theory of mercantilism

Empirically verifiable observation is

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Values

Theory

Fact

Hypothesis

The dynamic aggregate demand schedule shifts rightward when there is an increase in.

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The expected rate of inflation ceteris paribus

The growth rate of the nominal money supply ceteris paribus

The income tax rate ceteris paribus

the current inflation rate celeries paribus

A possible use in economies for the circle of the ellipse is to model.

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Production possibility curve

Demand curve

Iosco line

Supply curve

As the economy nears full capacity the short run aggregate supply curve

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Stagflation

Structural inflation

Demand side inflation

Supply side inflation

Given fixed exchange rates assume Pakistan initiates contractionary monetary ad fiscal policies to combat inflation. these policies will also.

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Reduce a balance of payments surplus

Reduce a balance of payments deficit

Increases both imports and exports

Decrease both imports and exports

The result of antidumping tariffs is to.

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increase consumer surplus in the importing country

Decrease producer surplus in the importing country

Impose a price floor on foreign prices in the importing country

Impose a price celling on foreign prices in the importing county

Who among the following is concerned with deep acology.

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Arne Naes

Warwick fox

Kant

None of these

An expansionist fiscal policy could include

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Lower interest rates

Increased lending by the banks

An increase in corporation tax

An increase in discretionary government spending

ECO come into force in.

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January 1985

January 1966

January 1948

January 1949

Which of the following NOT a source of economic growth.

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Investment in new capitals

Labor productivity

Investment in human capital

Technology advances

Fact is empirically verifiable observation is defined by

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Good and Halt

Claver

P.V.Young

Emory

All of the following are fundamental to the world trade organization except.

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Bilateral tariff reductions to promote trade liberalization.

the use of the most favored nation clause

Nondiscrimination trading relationships

The prohibition of import quotas and export quotas

Livestock is

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An independent sector

Sub -sector of agriculture

Should be a part of Agriculture

Would become a part of Agriculture

In the calculation of gross domestic product net exports are.

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The sum of merchandise trade and services

The current account plus long term capital

The value of merchandise exports minus imports

Short term capital plus the basic balance

The first step in formulating a problem is.

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Statement of the prblem

Gathering of data

Measurement

Survey

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