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KIBOR, the benchmark used by banks in Pakistan to price loans, stands for:
AKarachi Interbank Offered Rate
BKarachi Investment Board Official Rate
CKey Interest Base Offered Rate
DKarachi Interbank Official Reserve
The High-powered money expansion multiplier (Money Multiplier) is calculated as:
AReserve Requirement / Total Deposits
BVelocity × Price Level
C1 / Reserve Requirement Ratio (r)
D1 - Marginal Propensity to Consume
Command economy (socialist economic system) is primarily characterized by:
AUnregulated free market forces
BPrivate corporate monopolies
CFeudal landlord dominance
DCentral state planning and government ownership of means of production
The Human Poverty Index (HPI) and Multidimensional Poverty Index (MPI) were developed to measure poverty beyond:
AIncome levels alone by incorporating health, education, and living standards
BForeign aid debt levels
CGovernment budget deficits
DTax evasion rates
In Islamic Economics, the prohibition of ‘Riba’ strictly forbids:
ACommercial trade profits
BUnearned interest or usury on loans
CAgricultural production
DPublic infrastructure investments
The endogenous growth theory (e.g., Romer Model) differs from Solow by asserting that long-run growth is driven by:
AExogenous population explosions
BForeign capital inflows
CDecreasing returns to scale
DEndogenous factors like investment in human capital, R&D, and innovation
The Lewis-Ranis-Fei Model elaborates on the Lewis dual-sector model by emphasizing the development of:
AAgricultural productivity to generate commercial food surplus for the industrial sector
BForeign exchange reserves
CHeavy military industries
DMining raw material exports
The Harris-Todaro model explains rural-to-urban migration as a rational decision based on:
AGuaranteed employment in city factories
BExpected urban-rural real wage differentials rather than actual current wages
CGovernment rural expulsion orders
DUniform wage structures
The Stolper-Samuelson Theorem states that an increase in the relative price of a good increases the real return to:
AThe scarce factor of the nation
BCapital owners exclusively
CThe factor used intensively in the production of that good
DLaborers exclusively regardless of sector
The Rybczynski Theorem asserts that an increase in the endowment of one factor of production, holding prices constant, leads to:
AAn equal percentage growth in both sectors
BA fall in national GDP
CAn immediate deterioration of terms of trade
DAn absolute increase in output of the sector using that factor intensively and a decrease in output of the other sector