Question # 1

Money and income are.

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Mirror image of each other

Two quite different concepts

Both measured as a per annum flow

Two ways of looking at the same thing.

Objectivity means basing conclusion on facts wit out any

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Bias and value prediction

Bias and value judgment

Verifiability and value judgment

Prediction

The major source of revenue for the government is.

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the collection of property taxes

The collection of the corporates income tax

The collection of excise taxes on gasoline cigarettes and tires

The collection of import and export duties in the conduct of foreign trade

Nontariff trade barriers could include all of the following except.

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Domestic content laws

Government procurement polices

Health , safety, and environmental standards

Antidumping counter/vialling duties applied to imports.

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 methods is used for internalizaing positive externalities

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Positive taxes

Government exchange of property rights

Effluent fees

Corrective substidies

Modern Technique can be applied on

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Economic land holding

Uneconomic land holding

any land holding

None of these

In monopsony there is

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Single seller

Two buyers

Single buyer

Few buyer

If average variable cos tis less then marginal cost then certainly.

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Per unit total cost is rising

Per unit total cost is constant

Per unit total cost is falling

Per unit variable cost is rising

Employment tends to _______ whwn aggregate output.

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rise, falls

rise ; rises

falls; rises

Not change ; falls

An increase in the quantity of money supplied shifts the money supply curve to the_______ and the equilibrium interest rate

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right ; falls

right ; rises

left ; falls

left ; rises

Which of the following is an example of primary data.

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Book

Journal

News paper

group interview

The firms long run output decision will be where.

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Long run average cost a lowest

Marginal revenue equals output

Marginal revenue equals long run marginal cost

Marginal cost equals output

A diagonal matrix whose diagonal elements are equal is called.

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Unit matrix

Singular matrix

Scalar matrix

Non singular matrix

in 1950s following sector was ignored

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Agriculture sector

industrial sector

import sector

Services sector

An IOU of the Federal Reserve Bank of Scan Francisco to Bank of America is called.

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Discourse

Federal funds

Reserves

Collateral

Tariff levels in advanced countries tend to be ___ tariff levels in developing countries.

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Higher than

Equal to

Lower than

There is no general pattern

In long run a reduction in labor supply would cause output to __ and the aggregate price level to.

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fall ; rise

fall ; fall

rise ; fall

rise ; rise

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

Should international transpiration costs decrease the effect on international trade would include a.

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Increases in the volume of trade

Smaller gain from trade

Decline in the income of home producers

Decrease in the level of specialization in production.

The government budget surplus equals

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Government purchases plus transfers

Net government receipts minus government purchases

Government purchases minus net receipts

Government purchases minus transfers.

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

An increases in the value of the Rupee makes foreign goods cheaper relative to Pakistan goods, resulting in a _______ in net exports and a __ shift of the IS curve

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fall ; leftward

rise ; leftward

fall ; rightward

rise ; rightward

The function y = 2x + 1 and x = 1/2 y - 1/2 are said to be.

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Non linear functions

Inverse functions

Step functions

All the above

Sample implies

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Survey representation of larger whole

Smaller representation of larger whole

Population representation of a larger whole

Census representation of a larger whole

Which among the following is a material for statics.

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Honesty

Poverty

Wisdom

Numerical data

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

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The upward accelerator

The downward multiplier

The upward PPF

The downward MPC

If labour productivity per week is 200 units and there are 5 employees what is the total output.

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40 units

195 units

1000 units

200 units

Medieval scholastics, early Islamic thinkers, and Aristotie all agreed that.

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Payments of interest should be prohibited.

Commerce was modeled on a circular flow

Surpluses are enhanced throgh skilled management.

All of the above

Menu costs in relation to inflation refer to

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Costs of finding better rates of return

Costs of altering price lists

Costs of money increasing its value

Costs of revaluing the currency

By definition, the marginal propensity to consumes.

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Equals OC/A Yd

Is the behavioral coefficient c in the equation C = C + cYd

Is the slops of the consumption function.

All of the above

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