Question # 1

If the marginal revenue is positive

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Selling another unit will increase total revenue

Selling another unit will increase profits

Selling another unit will increase cost

Selling another unit will increase average revenue

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

Which of the following is NOT characteristics of underdeveloped nations.

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Low per capita income

Low growth rate of GNP

General needs for substantive investment in the infrastructure

Low population growth rates

Which of the following changes shifts the AD curve up and to the right.

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A rise in the nominal money supply

An increase in income taxes

An increase in the risk on nonmonetary assets

A decreasing the future marginal productivity of capital.

If the MPC is 0.5 the multiplier is

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2

1/2

0.2

20

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

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Loss

Profit

Developing

None of these

The associative law of union is

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AU (BUC= (AUB)

U C

AUB = BUA

BUC = BUA

The agricultural price support program is an example of.

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A price celling

A price floor

Equilibrium pricing

None of these

"Transactions" money is money used as a

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Store of value

Unit of account

Medium of exchange

Standard of deferred payment

A tax of 18 cents per unit of imported cheese would be an example of a.

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Compound tariff

Effective tariff

Ad valorem tariff

Specific tariff

The main role of the Federal Reserve is to

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Administer the government on the state of the economy

Overses the operations of the financial system and monetary management.

Establish the value of the dollar and official interest rates

Provide advice to the government on the state of the economy.

What is the production level for public good W, if the government uses full cost pricing.

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Q = 2

Q = 5

Q= 4

Q = 6

Research based on empirical evidences and.

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scientific experience

Political experience

Rational experience

Observable experience

A disadvantage of the barter system is that

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No trade occurs

People must produce all their own food clothing and shelter

The opportunity to specialize is greatly reduced.

Gold is the only unit of account

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

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Variables

Control groups

Values

paradigm

Nationalization occurs when

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The government bans a product

The government takes control of an industry

the government taxes a product to a raise the price.

The government taxes a product to a raise its price.

The extent of variability is measured by

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Central tendency

Measures of dispersion

Arithmetic mean

Co relation

A positive definite Hessian fulfills the second order conditions for

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Maximum

Minimum

Both maximum and minimum

Mini max

Adding up the quantities demanded of a good by different people facing the same price gives us the.

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Supply curve

Market demand curve

Demand curve

Market supply curve

If firms paying employees monthly began paying them weakly then the demand for money would.

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Rise and income would rise

Rise and income would fall

Fall and income would rise

Fall and income would fall

When the value of output exceeds planned spending .

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There is unsold output, and the level of income will fall

there is unsold output and the level of income will rise

There is unsold output, and the level of income does not change.

All of the above

The human centered ethics puts value up on

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Human only

Animals only

Species as a whole

Single individual

An economics variable that moves in the same direction as aggregate economic activity is called.

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Countercyclical

Procyclical

A cyclical

A leading variable

If the price elasticity of demand for a non giffen good is inelastic are decreased in its price result in.

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Increase in demand

Decrease in demand

Increase in total revenue

Decrease in total revenue

The law of demand states that.

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As the quantity demanded rises, the price rises.

As the price rises the quantity demanded rises

As the price rises, the quantity demanded falls.

As supply rises, the demand rises.

The term of trade is given by theprices.

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Paid to all goods exported by the home country

Received for all goods exported by the home country

Received for exports and paid for imports.

Of primary products as opposed to manufactured products.

Qualitative research focuses primarily on the meaning of.

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Subjective attributes of individuals groups

Objective attributes of individuals or groups

Facts of Indi duals or groups

Descriptive attributes of individuals or groups

In order of practice price discrimination which of the following is needed.

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Some degree of monopoly power

An ability to separate the market

An ability to prevent reselling

All of the above

When the economy goes into are cession there's an increase in.

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Frictional unemployment

structural unemployment

Cyclical unemployment

Voluntary unemployment

In closed economic model aggregate demand is not sensitive to.

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Interest rates

Exchange rates

Price level

Tax policy

The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.

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Total Physical product begins to fall

The marginal physical product rises

The marginal physical product falls

The average physical product falls.

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