Economics test of ppsc

Affiliated with world bank the band IDA

Author of book capitalism today and yesterday is written by Muerice Dobb
Bad money derives out good money is called grasham law
Big push industrilisation relative better in china
Bilateral monopoly solution is determinate
Capital to output ratio increase in additional unit of capital to total output
Cartesian subset is called relation
Closed economy the price is not effected by exchange rate
Consumption is function of income
Cross elasticity of demand unrelated goods is zero
Debt burden of pak increases due to forign debt and servicing
Devalution of currency increase the revenue the country if export demand is elastic
Discrete probility is also binomial probility
Diveragence of cob douglus function supply curve is greater then demand curve
Dumping in monopoly
Elasticity of demand of hyperbola costant equal to one
Elasticity of income to inferior good is negative
Engle curve is relation between income and consumption
Euro currency in contries actually 19 countries but not a option so 15 is right
Forign assistance to unproductive reason increase the inflation
Game theory about the rival firm
Gdp to tax ratio in pak is very low is about 9%
Gini coefficient is relation between population and income distribution
Human resourse development is called knowledge skill etc
Income demand for inferior goods is negative
Is curve of goods market
Is lm presented by hicks hanson
Life cycle of modigilani and richerd brumbrug
Liquidity trap occurs at very lower rate
Market surplus occurs when difference between demand and supply is positive.
Marshallian utility can be added
Measure of economic development is personal income
Micro economics called price theory
Money is money does by prof sigwick
Monoposony increase in price of labour then increase in expenditure
Mpc and apc falls then mpc<apc but in paper that option is wrongly printed
Nash equilibrium player not deviates the his strategy
Not direct tax that is the sales tax
Oldest one between different organization FAO
Opec established in 1960
Physical euro coins and banknotes entered into circulation on 1 January 2002,
Price machnism is also called price system
Price taker firm means can not influence in market
Public limited company in stock exchange
Qualitative data measured best by mode
Quantity of money and supply of money are synonyms
Revealed preferences theory about two goods
Social cost is equal to private cost +polution
 Speculative demand for money is inversely related with interst rate
Statistics calculated by population
Sumealson got noble prize in 1970
Supply curve of competitive firm is mc
The profit earnd by difference of market is called arbitage
Variable withen economics variable is called endogenous variable
Wir report is published by unctad