Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.
Last Answer : (3) is a measure of the proportional of the existing capital stock used for current production. Explanation: Capacity utilisation refers to the extent or level to which the productive capacity of a ... as a percentage, it is computed by dividing the total capacity with the portion being utilized.
Description : Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.
Last Answer : is a measure of the proportional of the existing capital stock used for current production.
Description : The type of unemployment that includes those persons who are unemployed for an intervening period of change over in job for better job is known as (a) Seasonal unemployment ; (b) Voluntary unemployment ; (c)Frictional unemployment (d) Technical unemployment
Last Answer : (c)Frictional unemployment
Description : In the long run a firm in perfect competition earns (a) Normal profit only ; (b) Abnormal profit ; (c) Average profit of past five years; (d) 12.33% profit on capital employed
Last Answer : (a) Normal profit only ;
Description : In economics, in the long run all the cost…………. (a) Are fixed ; (b) Are variable ; (c) Except labour are variable ; (d) Are non controllable
Last Answer : (b) Are variable ;
Description : The negatively sloped part of long run cost curve of a firm is due to (a) Increase in production due to specialization and division of labour; (b) Diseconomies of scale ; (c) Diminishing returns to scale ; (d) Marginal utility theory
Last Answer : (a) Increase in production due to specialization and division of labour;
Description : Which of the following is/ are an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) All the three
Last Answer : (d) All the three
Description : What was the condition of unemployed youth in Germany during economic crisis? -History 9th
Last Answer : Unemployed youths played cards or simply sat at street corners, or desperately queued up at the local employment exchange. the economic crisis brought great casualties and difficulties for the ... workers lost their jobs the got engaged in some criminal activities and total display became from
Description : Which of the following will have a relatively flat supply curve (a) Land ; (b) Labour ; (c) Capital ; (d) Raw material
Last Answer : (a) Land ;
Description : In the short run which of the following is fixed (a) Labour ; (b) Capital ; (c) Raw material ; (d) None
Last Answer : (b) Capital ;
Description : Which of the following is/ are not an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) Air
Last Answer : ; (d) Air
Description : What was the name of the Nazi Youth organisation which consisted of all German boys of 14 to 18 years of age? -History 9th
Last Answer : Hitler Youth (Hitlerjugend) for boys 14 to 18 years old.
Description : Voting right by the youth at the age of 18 years was exercised for the first time in the general election of - (1) 1987 (2) 1988 (3) 1989 (4) 1990
Last Answer : (3) 1989 Explanation: 61th amendment, 1989 on amending article 326 reduced age for voting rights from 21 to 18.
Description : 9. Last week, Martha spent one day cleaning a house. For this, she was paid $50. The rest of the week, she spent looking for a job. Martha would be classified as a. employed b. unemployed c. not in the labor force
Last Answer : a. employed
Description : The average of marks obtained by 60 students in a computer examination is 18. If the average marks of passed students is 20and that of the failed students is 8, what is the number of students who passed the examination? A) 100 B) 75 C) 50 D) 85
Last Answer : C Let the number of passed students be x. Then total marks = 60 × 18= 20x + (60– x) × 8 1080= 20x + 480– 8x 12x = 600 ∴ x = 50 ∴ number of passed students = 50
Description : There are two groups, X and Y wrote an examination. The probability of X's pass is 3/5 and the probability of Y's pass is 5/7. What is the probability that only one of them is passed out? a) 15/16 b) 16/35 c) 12/43 d) 18/35
Last Answer : Answer: B) Let X be the event of the group X pass Let Y be the event of the group Y pass Then, X'= Event of the group X's fail and Y'= event of the group Y's fail. Therefore, p(X) = 3/5 and p(Y) = 5/7, P(X') = 1 - P( ... )] + p[(Y And X')] = p(X) * p(Y') + P(Y) *P(X') = (6/35 + 10/35) = 16/35
Description : 1. Disguisedly unemployed labour has ___________ marginal productivity.
Last Answer : Choose the correct option: 1. Disguisedly unemployed labour has ___________ marginal productivity. (a) ... (c) structural (d) voluntary
Description : Total labour force in Pakistan is estimate at 63.03 million in the year 2014-15 out of which _____ million were unemployed A. 4.2 B. 3.93 C. 5.7 D. None of these
Last Answer : ANSWER: B
Description : Total labour force in Pakistan is estimate at 63.03 million in the year 2014-15 out of which _____ million were unemployed A. 4.2 13 B. 3.93 C. 5.7 D. None of these
Description : Q.61. CA Co manufactures a single product and has drawn up the following flexed budget for the year. 60% 70% 80% Rs Rs Rs Direct materials 120,000 140,000 160,000 Direct labour 90,000 105,000 120,000 Production ... activity? (a) Rs 330,300 (b) Rs 370,300 (c) Rs 373,300 (d) Rs 377,300
Last Answer : (b) Rs 370,300
Description : The ideal level of operation for a pure monopoly firm is the level where (a) TR and STC curve are parallel to each other ; (b) TR = TC ; (c) TR = Total variable cost; (d) TR is less than STC
Last Answer : (a) TR and STC curve are parallel to each other ;
Description : Breakeven point refers to the situation when (a) Total revenue is equal to total cost ; (b) Total revenue is more than total cost (c) Total revenue is less than total cost ; (d) Total revenue is equal to total variable cost
Last Answer : (a) Total revenue is equal to total cost ;
Description : When the price is less than the average variable cost, the firm should . (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench ... compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors
Last Answer : (b) Shut down its operation for the time being
Description : A firm faces the shut down situation when (a) Price is less than average variable cost ; (b) Price is more than the average variable cost (c) Price is equal to fixed cost ; (d) Price is more than the average fixed cost
Last Answer : (a) Price is less than average variable cost ;
Description : No person can be employed in factories or mines unless he is above the age of– (1) 12 years (2) 14 years (3) 18 years (4) 20 years
Last Answer : (2) 14 years Explanation: An important fundamental right dealing with children is Article 24 which deals with prohibition of Employment of Children in Factories, etc. It states that no child below ... shall be employed to work in any factory or mine or engaged in any otherhazardous employment.
Description : Average Revenue of a monopolist firm is (a) Always more than the Marginal revenue ; (b) Always less than the Marginal revenue; (c) Equal to marginal revenue ; (d) Any of the above three possible
Last Answer : (a) Always more than the Marginal revenue ;
Description : Total profit of a firm in a perfect competitive market is – (a) Total revenue less total cost ; (b) Marginal revenue less marginal cost; (c) Total revenue less marginal cost ; (d) Total revenue less variable cost
Last Answer : (a) Total revenue less total cost ;
Description : The Supply function of a product x is as Sx = 5px + 3. Where Px stand for price. The quantity supplied corresponding to price of `2 will be …………… (a) 18 ; (b) 13 ; (c) 15 ; (d) 23
Last Answer : (b) 13 ;
Description : Stock of both man made goods as well as natural resources like capital is called – (a) National wealth ; (b) National stock ; (c) No less no gain level ; (d) All the three
Last Answer : (b) National stock ;
Description : The paradox of Diamond is more costly than water is explained by (a) Marginal utility concept ;(b) Scarcity ; (c) Relative cost of production ; (d) All the three
Last Answer : ;(b) Scarcity ;
Description : Goods which are not perfect substitute of each other but have to be consumed in a fixed ratio will have rate of substitution (a) Unity ; (b) Less than 1 ; (c) More than 1 ; (d) Zero
Last Answer : (d) Zero
Description : A candidate who fails in two (2) complete CPA examinations shall be: a. Reverted to undergraduate status. b. Forever banned from taking another set of examinations c. Considered as having passed the ... . d. Required to take a refresher course before making another attempt at the CPA Board exams.
Last Answer : Required to take a refresher course before making another attempt at the CPA Board exams.
Description : Inflationary conditions may co-exist with which of the following situation (a) Increase in factor cost ; (b) Increase in employment opportunities; (c) Growth in GDP and imports ; (d) All the three
Last Answer : ; (d) All the three
Description : Shift in Demand curve or change in Demand curve occurs due to (a) Increase in price ; (b) Decrease in cost of production ; (c) Change in Cetris paribus conditions ; (d) All the three
Last Answer : (c) Change in Cetris paribus conditions ;
Description : At a given price increase in quantity supplied can be possible if …………… (a) There is apprehension of sharp fall in prices in future ; (b) Refund or subsidy of statutory levy in cash is given by the Government; (c) Improvement in technology led to cost saving ; (d) All the three
Description : Total variable cost curve is explained by (a) Law of the diminishing marginal returns ; (b) The price of the variable inputs; (c) Production function ; (d) All the three
Description : Variable cost is also known as (a) Incremental cost ; (b) Marginal cost ; (c) Differential cost ; (d) All the three
Description : Which of these costs will increase or decrease with increase in production (a) Marginal cost ; (b) Financial costs ; (c) Fixed costs ; (d) All the three
Last Answer : (a) Marginal cost ;
Description : Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three
Last Answer : (a) Actual expenses of the firm to purchase or hire input it needed
Description : A natural monopoly has declining – over large range of output (a) Long run average cost ; (b) Short run average cost ; (c) Long run total cost; (d) Long run marginal cost
Last Answer : (a) Long run average cost ;
Description : The quantity that an individual supplier is prepared to supply over a period of time is a function of (a) Price of the product ; (b) Cost of production of the product ; (c) Both ; (d) None
Last Answer : ; (c) Both ;
Description : Which of these measures would not reduce natural rate of unemployment? (a) Creation of more jobs ; (b) Reducing the age of superannuation (c) Hike in unemployment allowance ; (d) Employment oriented education system
Last Answer : (c) Hike in unemployment allowance ;
Description : …………… it is the form of the market in which the only seller of a commodity has fully control over the prices (a) Monopoly ; (b) Pure monopoly ; (c) Simple monopoly ; (d) All the three
Last Answer : (b) Pure monopoly ;
Description : The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three
Description : Disguised unemployment refers to the situation when (a) Marginal Productivity of the surplus workers is zero (b) Marginal productivity of the surplus workers is less than average productivity ( ... surplus workers is falling sharply (d) Marginal productivity of the surplus workers is falling sharply
Last Answer : (a) Marginal Productivity of the surplus workers is zero
Description : Which of the following is correct for the price ceiling which is set below the market s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity ... the set price ; (c) at the set price there is a surplus ; (d) None of above
Last Answer : (a) quantity demanded exceeds quantity supplied at the set price;
Description : Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above
Last Answer : (c) quantity supplied exceeds quantity demanded at the set price ;
Description : Very short period is the market condition where the supply remain perfectly (a) Elastic ; (b) Inelastic ; (c) Unity elastic ; (d) Elasticity less than 1
Last Answer : (b) Inelastic ;
Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand
Last Answer : (a) An increase in demand ;
Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand
Last Answer : ; (c) Decrease in demand ;