Question # 1

To adjust from gross National Product to Net National Product

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Deduct deprecation

Deduct indirect taxes

Deduct subsidies

Add inflation

Mercantilism.

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Is the philosophy of free international trade.

Was a system of export promotion and barriers to imports practiced by government .

Was praised by Adam Smith in the Wealth of Nations

Both a and c

Who is the proponent of the theory of deontology.

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Arne Naes

Warwick fox

Kant

Aido Loopoid

The demand curve for labor for a monopolist when other inputs are fixed is equal to its

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Marginal value product curve

Marginal revenue product curve

Horizontal summation of the firms demand curve at different output prices

Marginal physical product curve

Why would corporations want to achieve zero balances in their checking accounts.

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To earn more interest

To avoid paying taxes

to keep a low profile

To circumvent banking regulations

Suppose there is full employment and positively sloped aggregate supply schedule A decrees in taxes increases.

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The price level and real output

the prie level but has no effect on real output

Real output but has no effect on the price level

The nominal and real wage

Who said that research studies have differing degree of purity and applicability.

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Faraday

Julious Smon

Morry

Bogardus

The current chairperson of the planning commission of Pakistan.

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Nadeem ul Haque

Mehmood ul Haq

Abdul Hafeez sheikh

None of the above

Following banks were again privatized by Nawaz Sharif

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Allied Bank

Muslim Commerciale bank

None of these

Both a and b

What is the share of rural population in the total population of Pakistan.

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61.8 %

67.5%

59.6%

74.8%

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

The equilibrium level of employment achieved after the complete adjustment of wages and prices, is known as the.

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Zero unemployment level of employment

Natural state

Invisible handshake

Full employment level of employment

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 increase in the number of workers hired by a firm could result from

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a decrease in the marginal product of labor

a decrease in the marginal revenue product of labor

An increase in the real wage

A decrease in the real wage

Chose the advantage of snowball sampling from the following.

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population of not seen

Total size of population is not known

researcher's acquaintance influence the research

Contradicts with conventional nations.

Perfect international capital mobility suggests that international funds will be responsive to _______ differentials.

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Current account

Interest rate

Tax

Price

A shift in tastes loward foreign goods______ net exports and causes the quantity of aggregate output demanded to.

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decreases ; rise

decreases ; fall

increases ; rise

increases ; fall

Who defined research is a systematic development of logically related prepositions.

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Black and champion

comet

Weber

Morry

Head quarter of World Economic forum is situated in

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Devos

London

Geneva

New York

In monopoly there is.

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Single seller

Single buyer

Two producers

Few seller

Economic growth is shown on the production possibility frontier as.

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The curvature of the PPF

An inward shift in the PPF

An outward shifts in the PPF

A movement from one point on the PPF to another

A concept which can take on different quantitative values is called a.

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Variables

Control groups

Values

paradigm

The real value can be derived from a nominal value by

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Adjusting changes over time

Adjusting for data collection errors

Adjusting for population changes

Adjusting for changes in prices

The aggregate demand curve is downward sloping because a higher price level.

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Makes people wealthier and so they spend more

Causes higher wages and so people spend more

Cuts the real value of income and so people spend less

Decreases the real supply of money decreasing spending.

Who advocates laissez fair.

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Monetarists

Classical

Neo classical

Modern

If a person thinks they are better off after a 10% wage increase, and all prices have risen 10%, then they are experiencing.

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Inflation

A supply shocks

Crowding out

Inflation illusion

Which of the following causes M1 demand to decrease.

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A fall in the tax rate

An increase in income

A fall in the interest rate

An increase in the use of credit cards

A decline in the money__________ shifts the LM curve to the ____ causing the interest rate to rise and output to fall.

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Demand ; right

demand ; left

supply ; right

supply ; left

Which of the following IS a function of money.

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Medium of exchange

Store of value

Unit of accounting

All of the above

We would normally expect the size of the labour force to be ____ than the number of workers willing to accept job offers at any real wage rate.

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Smaller

Larger

the same size

None of these

The respect for nature is a book written by.

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Spinoza

Paul Taylor

Arne Naess

None of these

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