Question # 1

An elasticity coefficient of -1 means that

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The demand curve is perfectly inelastic

The demand curve is parfectly elastic

The relative changes in price and quantity are equal

Expenditures on the good would increase if price were reduced.

The negative relation ship between unemployment and inflation is know as the

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Aggregate supply curve

Aggregate demand curve

Philipps curve

Efficiency wage line

Who among the following was the leader of Monetarism

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Keynes

Milton friedman

A.W.Philip

Mankiv

The long run Philips curve is _________ at the ______

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Horizontal natural rate of inflation

Horizontal , natural rate of unemployment

Vertical , natural rte of inflation

Vertical , equilibrium rate of unemployment.

In today world most countries impose tariffs

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Only on imports

Only on exports

On both imports and exports

On imports exports and nontrade goods

Most Microeconomic models assume that decision makers wish to.

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Make themselves as well off as possible

Act selfishly

Not cooperate with others

None of the above

In the event of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely.

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Fall

Increases

Remain the same

Fluctuate

By financial crowding our economists mean

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What the government borrows cannot be used for private investment

Government borrowing drives up interest rates.

Bank of England controls on commercial bank lending

Credit rationing

The value of the dependent variable where the graph cuts the y-axis is called.

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X - intercept

Y- intercept

Slope

None of these

'Equal chance of being included in the sample", about what does Dr. Yates and Harper defined like this.

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Stratified sampling

Probability sampling

Proportional sampling

None of these

The institutional framework developed in 1974 to promote trade liberalization is known as.

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WTO

GATT

IMF

World bank

In market economics the incentive that draws entrepreneurs into industry is.

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Government bonuses for meeting production quotas

Profit

Government assumption of the risk of failure

Government assistance with making output and pricing decisions

Within circular flow of income, an increase in domestic income iwll lend to increase.

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Exports

Taxes

Inventories

Imports

The main cause of different relative costs between countries are.

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Relative factors competition

Relative factor mobility

Relative factor substitution

Relative factor endowments

Money is

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An indicator of the scarcity of wants

Anything that sellers accept i exchange for goods and services.

A form of barter

Anything that the government classifies as a trade commodity.

Satellite television subscription and television detection devices are ways in which broadcasting companies address the _____ problem.

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Externality

Market imperfection

Deadweight burden

Free rider

Second step in problem formulation is

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Statement of the problem

Understanding the nature of the problem

Survey

Discussions

The value of a producer's output minus the value of the inputs if purchases from other producers is called the producer's

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Surplus

Profit

Gross product

Value added

In the short run the level of floating exchange rates is determined mainly by.

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Interest rates

Competitiveness

Trade

Speculation

An increase in the expected future marginal product of capital would cause the IS curve to.

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Shift up and to the right

Shift down and to the left

Remain unchanged if firms face borrowing constraints otherwise shift down and to the left

Remain changed

Price controls are

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Necessary for consumer's welfares

A must to check inflation

Doomed to fall

None of these

It enables the researcher to relate logically known facts to intelligent guesses about unknown conditions.

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Research design

Hypothesis

Pre-Test

Pilot study

Silent spring is written by

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Spinoza

Paul Taylor

Arne Naes

Rachel Carison

A negative definite Hessian fulfills the second order conditions for.

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Maximum

Minimum

both maximum and minimum

Mini max

The Marginal cost of product W exhibiting positive externalities is McW = 25 + 5 Qs, the competitive price for each unit of W (Pw) is Rs. 175 and the positive externality is worth Rs. 100 to society for each unit produced. Society considers product W under produced by how many units.

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10 Units

15 Units

20 Units

5 units

A Market situation where the number of buyers is very large and the number of sellers are very small is called.

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Perfect competition

Duopoly

Oligopoly

In perfect competition

the mar mist theory of dialectical materialism theoretically follows a sequence

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synthesis thesis antithesis

Antihesis synthesis thesis

thesis antithesis synthesis

synthesis antithesis thesis

The public sector includes.

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Investors owning companies

Government ownership of assets

Market forces of supply and demand

All trade via barter

A disadvantage of chain weighting is that

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Past inflation rates change whenever the base year changes.

Past growth rates of real GDP change whenever the base year changes.

It causes output growth to slow

The components of real GDP don't sum to real GDP

According to classical economists the economy.

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Requires fine tuning to reach full employment

Should not be left to market forces

Will never be at full employment

Is self correction

Which of the following are function of inferential statistic.

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Estimation

Testing of hypothesis

both a and b

None of these

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