Question # 1

Primary producers maybe labeled as.

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White coliar workers

Pink collar workers

Red collar workers

None of these

Arne Naes founded the school of.

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Eco ethics

Deep ecology

Eco philosophy

Environmental ethics

If leisure is an inferior good the individuals supply curve for labor is.

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Back ward bending

Completely inelastic

Upward sloping

Perfectly elastic

The fact that the Production function relating output to capital becomes flatter as we move from left to right means that.

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The marginal product of labor is positive

The marginal product of capital is positive

There is diminishing marginal productivity of labor

There is diminishing marginal productivity of capital

Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is

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Positive

Negative

Infinite

None of these

When equilibrium in the money and goods markets occurs at a rate of interest below the BP schedule internal and external equilibrium for the United States can he achieved by.

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Expanding the U.S. money supply

Increasing government spending

Increasing taxes

Lowering interest rates in the united states.

The largest lenders to less developed countries are

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Western government

Multi lateral agencies

Private banks

Invidia investors who purchase government bonds

There are three fundamental questions every society must answer Which of the following is one of these questions.

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What goods and services are to be produced.

How are the good and services to be produced.

Who will get the goods and services what are produced.

All of the above

An increase in aggregate demand if aggregate supply is totally inelastic will.

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Increase price but not output

Increase output but not price

Increase out put and price

Decrease output and price

Economic transition involves high inflation because ______ and _____

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High monetary growth, high wages.

High budget deficits, devaluation

High monetary growth, devaluation

Prices surge from an artificially low level to their equilibrium level the inflation tax is required as source of government revenue.

If the nominal money supply doubles while real money demand is unchanged what happens to the price level.

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The price level increases by a factor of four

The price level doubles

The price level is unchanged

The price level falls by one half.

The overall Budget Deficit is financed from

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External borrowing

Non bank borrowing domestically

Bank borrowing plus the above two at a and b

None of the above

Given the data above, the empirical equation for the IS curve is.

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Y = 275 + 10 i

Y = 225 + 50 i

Y = 250 - 10 i

Y = 275 - 501

According to the .A.H Hasen the capitalistic economy is basically characterized with

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Instability

Stability

Inefficiency

Efficiency

Floating exchange rates are __ in the short run

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Stable

Volatile

Predictable

Depreciating

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

The yield curve shows

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The yields on stocks of different maturities

The interest rates on bonds of different maturities.

The yields on stocks with differing default risk

The yields on bonds with differing default risk

Empirical research may given a new focus to the exiting theory means.

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Research clarifies theory

Researh intitiate theory

Reach refocuses theory

Psychoanalytic theory

More trade and more and is the demand made by the

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Developing countries

Developed countries

More developed countries

Non developing countries

A bonds becomes a riskier asset the demand for money_______ and all else constant, the equilibrium interest rate

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Rises ; rises

rises ; falls

falls ; rises

falls ; falls

For a Muslim living within the code of Islam primary source for the the solution of economic problems is.

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the Holy Quran

Sunnah

Both a and b

None of these

Which of the following is an example of government policy that could reduce inflation.

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Increasing bank lending

increasing import duties

Reducing government expenditure

Reducing direct taxation

The effect of the most favored nation clause is to

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Eliminate at tariffs between countries.

Increase all tariff rates between countries

Maintain a nondiscriminatory structure of tariffs

Marlein a discriminatory structure of tariffs.

A natural monopoly has a declining ________ over a large range of output.

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Long run marginal cost

Short run marginal cost

Long run average cost

Long run marginal cost

There are __________ basic economic activities.

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2

3

4

5

Biocentrism comes under

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Life centrism

Ecologism

Anthropocentrism

Materialism

Inflation.

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Reduces the cost of living

Reduces the standard of living

Reduce the price of products

Reduces the purchasing power of a price

Short run equilibrium output means that aggregate demand _ actual output

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is less than

equals

is greater than

fluctuates around

You move some of your savings account balance into your checking account.

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M2 falls and M1 rises

M1 falls and M2 rises

M1 and M2 are unchanged

M1 rises and M2 remains unchanged

When an economy first begins to frow more slowly.

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GDP increase

Inflation is likely to increase

Stock levels are likely to increse

Investment in equipment is likely to increase

In the mid 1960's agricultural scientists developed high yielding varieties of.

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Rice and Wheat

Rice and Cotton

Coffee, rubber

None of these

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