Virtual University Of Pakistan Network
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Q1 Oligopoly differs from monopolistic competition in that
an oligopoly includes
Q2 The slope of the saving function (or line) is the:
Q3 Suppose that a farmer grows wheat and sells it to a baker
for Rs.1, the baker makes bread and sells it to a store for Rs.2,
and the store sells it to the customer for Rs.3. This transaction
increases GDP by Profit is maximized when:
Q4 Government expectations of future output growth.
Q5 A source of fluctuations in investment spending is changes in:
Q6 If Nominal GDP is divided by the GDP deflator, it is called:
Q7 An important difference between the approaches of the
Classical and Keynesian economists use to achieve a
macroeconomic equilibrium is that:
Q8 Consider a closed economy where total savings equals
Rs. 70000, investment is Rs. 90000 and total tax collection
is Rs. 35000. What are leakages into the circular flow of income?
Q9 According to classical economists, what was the main
reason of fall in investment during great depression?
Q10 There are commonly ________ methods of measuring GDP.
Q11 The kinked demand curve model is based on which of the following assumption
ANS None of the given options.
Q12 In which market structure(s), price will exceed marginal revenue?
ANS Monopolistic competition, oligopoly and monopoly
Q13 Intermediate goods are:
ANS combined into the production of finished products
Q14 The investment demand curve shows the relationship between the levels of:
ANS investment and the cost of borrowing for the firm
Q15 Suppose Gross Domestic Product (GDP) in 2007 equals Rs. 720,000.
If the values of indirect taxes and depreciation allowance are Rs.
250,000 and Rs. 40,000 respectively, the value of net domestic
product (NDP) is:
ANS Rs.680, 000.