Question # 1

In monopolistic competition firms profit maximize where

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Marginal revenue = average revenue

Marginal revenue= Marginal cost

Marginal revenue= Average cost

Marginal revenue = Total cost

An independent assessment of the impact of firm's activities on society is called a.

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Financial audit

Balance sheet

Profit and uses account

Social audit

Indifference curve is alwyas.

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Vertical

Horizontal

Concave

Convex

When economists say that a per son is economizing they mean that the person is.

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making choices to gain benefits at lowest possible cost

Making a lot of money

Purchasing goods that are generic cheap or of low quality

Learning how to run a business more effecitively

A current account surplus implies that

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The country is a net lender to the rest of the world

The country is running a net capital account surplus

Foreign investment in domestic securities is at very low levels

All of the above

The form of dumping that represents the greatest potential net welfare loss the for importing nation is.

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Predatory dumping

Sporadic dumping

Persistent dumping

Year end dumping

The supply of foreign currency tends to be

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upward sloping

down ward sloping

Vertical

any of the above

In perfect competition the industry will be in equilibrium.

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when all the firms earning abnormal profit

When all the firms earning normal profit

All firms having loss

All firms having proft

An expansionary supply side shock results in.

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An increased real national income

The aggregate supply curve shifting to the left

The aggregate demand curve shifting to the right

The aggregate demand curve shifting to the left

In the period of Zia ul Haq the nationalized enterprises went on.

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Loss

Profit

Developing

None of these

According to principle of Islamic economics interest free banking was started in the fim of PLS account.

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Nawaz sharif

Zia ul haq

Z.A Bhutto

Ayub Khan

Which of the following is necessary for a natural monopoly.

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Economies of scale

A high proportion of the total cost is the cost of capital goods

The market is very small

All of the above

That the division of labor a limited by the size of the market best applies to which explanation of trade

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Factor endowment theory

Product life cycle theory

Economies of scale theory

Over lapping demand theory.

An increase in money demand other thing equal shifts the ____ curve to the___

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IS ; right

IS ; Left

LM ; Left

LM ; right

Suppose the intersection of the IS and LM curves is to the left of the FE line A decrease in the price level would most likely. eliminate a disequilibrium among the asset labor and goods markets by.

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Shifting the LM curve down and to the right

Shifting the IS curve up and to the right

Shifting the IS curve down and to the left

Shifting the FE curve to the left

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

The determinant of a matrix and that of its transpose are

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Equal

Zero

One

Negatively related

The expected real interest rate minus expected inflation rate.

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Nominal interest rate minus inflation rate

Nominal interest rate minus expected inflation rate.

Expected nominal interest rate minus inflation rate

Nominal interest rate plus expected inflation rate.

If the Bank of Pakistan wished to pursue an expansionary monetary policy it would.

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Increase the minimum reserve asset ratio

Sell government securities on the open market

Buy government securities on the open market

Raise interest rates.

A polynomial equation with degree two a called.

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Linear equation

Quadratic equation

Parabola equation

All of the above

Research simply mesa a search for.

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Problems

Facts

Results

Topic

The goal of a pure market economy is to best meet the desires of.

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Consumers

Companies

Workers

The government

Second step in problem formulation is

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Statement of the problem

Understanding the nature of the problem

Survey

Discussions

At level of income and output of 100 in the diagram above

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APC < 1

Equilibrium occurs

Consumption expenditures are equal to 100

MPC > APC

The first census in Pakistan was held in

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1948

1951

1959

1961

You know that all taxes are distortionary under what conditions will this knowledge lead you to appose the imposition of every single tax in the economy.

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If you live in a 1st best world.

If you live in a 2nd best world

If the tax rates on some of the items are prohibitively high

Either of the above

A Six year development plan was prepared on the recommendation of Colombo consultation Committee from _____ to.

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1951 -57

1952-58

1953-59

None of the above

A higher GDP per capita may not mean that the quality of life has really improved because.

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It measures wealth not income

It measures Gross Domestic product

It does not measure the quality of the items produced

it is only measured every five years

Eco Philosophy mainly deals with ethical part

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Philosophy

Metaphysics

Logic

Aesthetics

The sign of the simple correlation coefficient is determined by

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The intercept of the least squares equation.

The slope of the least squares equation

The appropriate economic theory.

The researcher

Fact is empirically verifiable observation is defined by

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Good and Halt

Claver

P.V.Young

Emory

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