GAT Subject Test (Economics)

National Testing Service Pakistan

7 contributor - 0 Folowers




Fani Warraich ECONOMICS   -   Microeconomics

Who is the father of economics?

Fani Warraich

GOOD

Fani Warraich

xcxcb

Janib Khan

Right

Fani Warraich ECONOMICS   -   Macroeconomics

Macroeconomics distinguishes between the real economy and the

Spending is influenced by both the amounts of products and services purchased and their dollar-denominated pricing.
Fani Warraich ECONOMICS   -   Macroeconomics

Until the First World War, the prices

The price-level was balanced over long periods of 20-50 years.
Anna IQ APTITUDE & ABILITY   -   Verbal Reasoning

Many find it strange that her writing is thought to be tortuous; her recent essays, although longer than most of her earlier essays, are extremely_______.

Anmol Qamar

It is tedious right option?

Anna IQ APTITUDE & ABILITY   -   Verbal Reasoning

The author presents the life of Zane Grey with _____ unusual in a biographer: he is not even convinced that Grey was a good writer.

Fani Warraich

dfdsfas

Janib Khan ECONOMICS   -   Microeconomics

The branch of economics that deals with the allocation of resources is called ______.

Fani Warraich

macroeconomics

Bashir Farooqi IQ APTITUDE & ABILITY   -   Verbal Reasoning

During their operational lifetimes, the majority of spacecraft currently face minimal risk of collision with space junk, but given the number of new satellites launched each year, the orbital environment is likely to be less ________ in the future.

Bashir Farooqi IQ APTITUDE & ABILITY   -   Verbal Reasoning

Florence Nightingale was ___ in the development of modern medicine, ___ such practices as sanitization of hospital wards and isolation of actively infected patients.

Florence Nightingale was a pioneer in the development of modern medicine. She was an innovator who initiated such practices as sanitization of hospital wards and isolation of actively infected patients. She was not a collaborator who rejected these practices, nor was she a maverick who protested them. She was an individual who saw the need for these practices and worked to implement them. The other choices are incorrect. A collaborator is someone who works with others. Nightingale did not work with others to reject these practices. A maverick is someone who goes against the established order. Nightingale did not go against the established order by protesting these practices. A pioneer is someone who is the first to do something. Nightingale was not the first person to suggest these practices, but she was the first person to successfully implement them. An individualist is someone who does things their own way. Nightingale did not do things her own way by standardizing these practices. She worked with others to standardize them.
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Linda Greenhouse's articles for the New York Times are an outstanding example of ___, capsulizing prose into a necessarily limited space.

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Roberto Clement was seen as ___ during his life because of both his selflessness on the baseball field and his humanitarian work in his native Nicaragua

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

His habit of spending more than he earned left him in a state of perpetual------ but he------------hoping to see a more affluent day

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Known for his commitment to numerous worthy causes, the philanthropist deserved------ for his-----------

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

You should --------this paragraph in order to make your essay more-----

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

A------glance pays-----attention to details

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Surprisingly enough, it is more difficult to write about the--------than about the---and strange.

The sentence is comparing the difficulty of writing about two different things. The first part of the sentence sets up the contrast by stating that it is more difficult to write about something "surprisingly enough" than something else. The key to understanding the correct answer is to recognize the contrast between the two words in each pair. "Commonplace" refers to things that are ordinary, everyday, or familiar. These are things that are not particularly interesting or unusual. "Exotic" refers to things that are foreign, unusual, or unique. These are things that are out of the ordinary and intriguing because of their distinctiveness. Given this contrast, it makes sense that it would be more difficult to write about something commonplace (which lacks inherent interest or novelty) compared to something exotic (which has a built-in level of intrigue and uniqueness). Therefore, option C is the correct answer because it correctly captures this contrast in difficulty.
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

A-----response is one that is made with----------.

In this sentence, a "speedy" response is described as one made with "alacrity," which means briskness, eagerness, or willingness to respond quickly and with enthusiasm. This choice of words creates a logical and coherent sentence.
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

3. A----is a-------.

In this sentence, a "norm" is described as a "standard." This pairing of words makes sense and creates a coherent sentence. Norms often refer to accepted standards or behaviors within a group or society.
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

It is widely believed that a nuclear war could ____ enough smoke and dust to block out the sun and freeze the earth.

In this context, "billow" means to produce large quantities of smoke and dust, which could have the described catastrophic effects on the environment.
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Consumption of red meat has ____ because its fat content has become a worrisome and ____ matter.

In this context, "declined" fits with the idea that people are eating less red meat, and "controversial" suggests that there is debate or disagreement about its health implications, particularly related to its fat content
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

It takes ____ character to ____ the extremities of the arctic region.

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Consumers refused to buy meat products from the company because of rumors that the water supply at the meat processing plant was ______; the rumors, however, were quite ______, with no hard evidence to back them up.

This choice of words creates a coherent sentence where "contaminated" refers to the rumors about the water supply being polluted, and "unsubstantiated" means that there was no concrete evidence to support these rumors
Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Many kinds of harmful viruses are unhindered when passing through different parts of the host organism; indeed, there are few organic substances which such viruses’ cannot______.

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Their conversation was unsettling, for the gravity of their topic contrasted so oddly with the ______ of their tone

Muhammad Tayyab Ikhlas IQ APTITUDE & ABILITY   -   Verbal Reasoning

Throughout the animal kingdom, ____ bigger than the elephant.

Fani Warraich IQ APTITUDE & ABILITY   -   Verbal Reasoning

Although its publicity has been ___, the film itself is intelligent, well-acted, handsomely produced and altogether ___

Fani Warraich IQ APTITUDE & ABILITY   -   Verbal Reasoning

The Inuit natives of Alaska's North Slope worry that ___ oil exploration might ___their sensitive natural environment.

Fani Warraich IQ APTITUDE & ABILITY   -   Verbal Reasoning

Ants live in colonies based on ___; each member contributes to the good of all by actively working with others in performing necessary tasks.

Sumera Nawaz ECONOMICS   -   Microeconomics

Which of the following factors does NOT influence the demand for a good?

The cost of production is a determinant of supply, not demand. Demand is influenced by factors such as price of related goods, income, and future expectations.
Sumera Nawaz ECONOMICS   -   Microeconomics

If the demand for a product increases while its supply remains constant, what will happen to the equilibrium price and quantity?

An increase in demand with constant supply will lead to an increase in both equilibrium price and quantity traded.
Sumera Nawaz ECONOMICS   -   Microeconomics

Which of the following statements about elasticity of demand is true?

Elasticity of demand measures how much quantity demanded responds to a change in price. Elastic demand means consumers are sensitive to price changes.
Sumera Nawaz ECONOMICS   -   Microeconomics

Which of the following events would lead to a decrease in the equilibrium price of oranges?

A decrease in the price of a complement to oranges (orange juice) would increase the demand for oranges, leading to a decrease in equilibrium price.
Sumera Nawaz ECONOMICS   -   Microeconomics

If demand is perfectly elastic, what is the value of price elasticity of demand?

Perfectly elastic demand means any change in price results in an infinite change in quantity demanded.
Sumera Nawaz ECONOMICS   -   Microeconomics

When is the price elasticity of supply perfectly inelastic?

Perfectly inelastic supply means the quantity supplied does not change at all in response to changes in price.
Sumera Nawaz ECONOMICS   -   Microeconomics

If both supply and demand increase but the increase in supply is larger, what will happen to equilibrium price and quantity?

When both supply and demand increase, but the increase in supply is larger, the increase in quantity supplied will outweigh the increase in quantity demanded, leading to a decrease in price and an increase in quantity.
Sumera Nawaz ECONOMICS   -   Microeconomics

Which of the following is an example of a substitute good?

Substitute goods are those that can be used in place of each other, such as tea and coffee.
Sumera Nawaz ECONOMICS   -   Microeconomics

Which of the following would lead to a rightward shift of the supply curve?

An improvement in technology increases efficiency and lowers production costs, leading to an increase in supply.
Sumera Nawaz ECONOMICS   -   Microeconomics

If the price elasticity of demand for a good is less than 1, the demand is considered

If the price elasticity of demand is less than 1, it indicates that quantity demanded is not very responsive to changes in price, hence the demand is considered inelastic.
Sumera Nawaz ECONOMICS   -   Macroeconomics

Which of the following is NOT included in the calculation of Gross Domestic Product (GDP)?

Transfer payments are not counted in GDP as they do not represent production of goods and services.
Sumera Nawaz ECONOMICS   -   Macroeconomics

Which of the following measures is used to adjust Gross Domestic Product (GDP) for inflation?

Real GDP adjusts for inflation by removing the effects of price changes, providing a measure of GDP in constant prices.
Sumera Nawaz ECONOMICS   -   Macroeconomics

If Gross Domestic Product (GDP) is $10 trillion and Gross National Product (GNP) is $11 trillion, what is the value of net factor income from abroad (NFIA)?

GNP - GDP = NFIA, so $11 trillion - $10 trillion = $1 trillion.
Sumera Nawaz ECONOMICS   -   Macroeconomics

Which of the following transactions would be included in the calculation of Gross Domestic Product (GDP)?

Only final goods and services produced within the country's borders are included in GDP. The purchase of a used car (A), military equipment from a foreign country (C), and tuition fees (D) are not counted in GDP.
Sumera Nawaz ECONOMICS   -   Macroeconomics

Which of the following is NOT a component of the expenditure approach to calculating Gross Domestic Product (GDP)?

All of the listed options are components of the expenditure approach to GDP calculation.
Sumera Nawaz ECONOMICS   -   Macroeconomics

If a country's Gross Domestic Product (GDP) is $500 billion and its population is 100 million, what is the country's GDP per capita?

GDP per capita is calculated by dividing GDP by the population, so $500 billion / 100 million = $5,000.
Sumera Nawaz ECONOMICS   -   Macroeconomics

Which of the following is an example of a transfer payment?

Transfer payments are payments made by the government to individuals or households without the expectation of goods or services in return.
Sumera Nawaz ECONOMICS   -   Macroeconomics

Which of the following is NOT a limitation of Gross Domestic Product (GDP) as a measure of economic welfare?

GDP can be adjusted for inflation to calculate real GDP, addressing this limitation.
Sumera Nawaz ECONOMICS   -   Macroeconomics

In the circular flow of income, which sector consists of households?

The household sector represents individuals or households who consume goods and services and provide factors of production to firms.
Sumera Nawaz ECONOMICS   -   Macroeconomics

If a country's Gross Domestic Product (GDP) is $800 billion and its Gross National Product (GNP) is $750 billion, what is the value of net factor income from abroad (NFIA)?

GNP - GDP = NFIA, so $750 billion - $800 billion = -$50 billion. Since NFIA is negative, it means the country has a net outflow of income to the rest of the world, so the absolute value of NFIA is $50 billion.
Sidis IQ APTITUDE & ABILITY   -   Verbal Reasoning

In the given sentence, identify the gerund phrase: "Running marathons in extreme weather conditions requires immense determination and endurance."

A gerund phrase is a phrase consisting of a gerund (a verb form ending in "-ing") and any modifiers or complements. In this sentence, "Running marathons" functions as a gerund phrase because "running" is a gerund acting as the subject of the sentence.
Sidis IQ APTITUDE & ABILITY   -   Verbal Reasoning

Identify the logical fallacy in the following argument: "I've never seen a black swan; therefore, black swans do not exist."

The argument makes a broad generalization based on insufficient evidence. Seeing no black swans personally does not necessarily mean that they do not exist; it's just an insufficient sample size to draw such a conclusion.
Sidis IQ APTITUDE & ABILITY   -   Verbal Reasoning

Choose the word that best completes the analogy: Adorn: Decorate :: _______ : Amass

"Adorn" is a synonym for "decorate." Similarly, "Hoard" is a synonym for "amass" or collect in large quantities.
Sidis IQ APTITUDE & ABILITY   -   Verbal Reasoning

Identify the figure of speech used in the following sentence :"The stars danced playfully in the sky."

Personification is the attribution of human characteristics to non-human entities. In this sentence, the stars are described as "dancing playfully," which is a human characteristic attributed to them.
Sidis IQ APTITUDE & ABILITY   -   Analytical Reasoning

An office building has five floors, numbered one through five. Each floor has a different color carpet: red, blue, green, yellow, and white. The following conditions must be met: i. The red carpet cannot be on the top floor. ii. The blue carpet must be above the green carpet but below the yellow carpet. iii. The white carpet must be on a higher floor than the green carpet but cannot be on the top floor. In which of the following arrangements is the sequence of floors correctly matched with the colors of their respective carpets?

The arrangement follows all the given conditions: red is not on the top floor, blue is above green and below yellow, and white is above green but not on the top floor.
Sidis IQ APTITUDE & ABILITY   -   Analytical Reasoning

In a certain company, there are seven executives: Adam, Ben, Chris, David, Emily, Fiona, and Grace. They are seated in a row of chairs. The following conditions must be met: i. Adam cannot sit next to Chris or Emily. ii. Ben must sit next to David. iii. Fiona cannot sit at either end of the row. Which of the following is a valid arrangement of the executives?

In this arrangement, all the given conditions are met: Adam is not next to Chris or Emily, Ben is next to David, and Fiona is not at either end of the row.
Fani Warraich

.

Sidis IQ APTITUDE & ABILITY   -   Analytical Reasoning

Five friends – Alex, Brian, Chris, David, and Eric – are participating in a singing competition. They will perform one after the other. The following conditions must be met: i. Alex cannot perform before David or Eric. ii. Brian must perform before Chris. iii. David cannot be the first or last to perform. In which of the following sequences can the friends perform according to the given conditions?

This sequence satisfies all conditions: Alex does not perform before David or Eric, Brian performs before Chris, and David is neither first nor last.
Sidis IQ APTITUDE & ABILITY   -   Analytical Reasoning

In a chess tournament, there are six players: Alice, Bob, Carol, David, Emily, and Frank. Each player plays exactly once against each of the other players. The following conditions must be met: i. Alice must play against Bob and Emily. ii. Carol cannot play against David or Frank. iii. Emily must play against Alice and David. How many different matches can be played in total?

There are six players, so each player plays against five other players. However, the matches involving Alice, Emily, and Carol are determined by the given conditions, resulting in 12 matches.
Sidis IQ APTITUDE & ABILITY   -   Analytical Reasoning

Five books – A, B, C, D, and E – are placed on a shelf. The following conditions must be met: i. Book A cannot be placed next to book B. ii. Book C must be placed between books B and D. iii. Book E must be placed somewhere to the right of book A. Which of the following represents a valid arrangement of the books on the shelf, from left to right?

In this arrangement, all the given conditions are met: A is not next to B, C is between B and D, and E is to the right of A.
Sumera Nawaz ECONOMICS   -   Econometrics

What is the primary purpose of using Instrumental Variables (IV) in econometrics?

Instrumental Variables (IV) are used in econometrics to address endogeneity problems, which occur when an explanatory variable is correlated with the error term. IVs help in obtaining consistent estimates by providing a source of variation that is correlated with the endogenous explanatory variable but uncorrelated with the error term.
Sumera Nawaz ECONOMICS   -   Econometrics

When is the use of a fixed-effects model preferable to a random-effects model in panel data analysis?

The fixed-effects model is preferable when the individual effects are correlated with the explanatory variables. This model accounts for unobserved heterogeneity by allowing each cross-sectional unit to have its own intercept, thus controlling for time-invariant characteristics.
Sumera Nawaz ECONOMICS   -   Econometrics

Which test is commonly used to detect autocorrelation in the residuals of a regression model?

The Durbin-Watson test is commonly used to detect autocorrelation in the residuals of a regression model. It tests the null hypothesis that there is no first-order autocorrelation in the residuals, with values near 2 indicating no autocorrelation and values approaching 0 or 4 indicating positive or negative autocorrelation, respectively.
Sumera Nawaz ECONOMICS   -   Econometrics

Why is multicollinearity a problem in multiple regression analysis?

Multicollinearity is a problem because it causes the standard errors of the regression coefficients to be inflated, which can lead to less precise estimates and make it difficult to determine the individual effect of each explanatory variable. This reduces the reliability of hypothesis tests.
Sumera Nawaz ECONOMICS   -   Econometrics

How to address heteroskedasticity in a regression model?

Heteroskedasticity can be addressed by applying robust standard errors, which provide consistent standard error estimates even when heteroskedasticity is present. This adjustment ensures that inference drawn from the regression coefficients remains valid despite the presence of non-constant variance in the error terms.
Fani Warraich ECONOMICS   -   Economy of Pakistan

What is the estimated percentage of Pakistan's population living below the poverty line, according to the 2022 World Bank report?

Fani Warraich ECONOMICS   -   Economy of Pakistan

Which of the following industries is the largest contributor to Pakistan's exports, accounting for approximately 60% of total exports?

Fani Warraich ECONOMICS   -   Economy of Pakistan

What is the name of the flagship program launched by the Government of Pakistan in 2022 to provide subsidized loans to small and medium-sized enterprises (SMEs)?

Fani Warraich ECONOMICS   -   Economy of Pakistan

According to the Pakistan Bureau of Statistics (PBS), what is the estimated growth rate of Pakistan's GDP in the fiscal year 2022-23?

Fani Warraich ECONOMICS   -   Economy of Pakistan

Which international organization has provided the largest amount of foreign assistance to Pakistan in the form of loans and grants, with a total commitment of over $10 billion since 2010?

Fani Warraich ECONOMICS   -   Macroeconomics

Which of the following is not typically an element in the structural change that accompanies development?

Structural change usually involves a decrease in the share of agriculture in GDP as economies develop.
Fani Warraich ECONOMICS   -   Macroeconomics

A supply side vicious circle of poverty suggests that poor nations remain poor because:

Low savings and investment create a cycle of poverty by limiting capital accumulation and growth in poor nations.
Fani Warraich ECONOMICS   -   Macroeconomics

When the manufacturer of power looms expands, there are forward linkage effects due to:

Forward linkage effects relate to increased production in downstream industries, like woven cloth in this case.
Fani Warraich ECONOMICS   -   Macroeconomics

A certain amount of goods and services is necessary for a minimum standard of living. This is called:

Basic needs refer to the minimum level of goods and services necessary to sustain a basic standard of living.
Fani Warraich ECONOMICS   -   Macroeconomics

With perfect income equality the Gini coefficient in a country would be

A Gini coefficient of 0 indicates perfect income equality, with no disparity in income distribution.
Fani Warraich ECONOMICS   -   Macroeconomics

There are strong theoretical reasons to expect that changes in wealth are responsible for changes in consumption. Nonetheless, one reason that we observe a tight link between consumption and disposable income is:

Household savings act as a buffer, making consumption less volatile relative to income fluctuations.
Fani Warraich ECONOMICS   -   Macroeconomics

The accelerator principle states:

The accelerator principle posits that investment is positively related to expected growth in output.
Fani Warraich ECONOMICS   -   Macroeconomics

Economic growth measures the:

Economic growth is commonly measured by the increase in a country's output of goods and services (GDP).
Fani Warraich ECONOMICS   -   Macroeconomics

Non-traded goods do not enter measured GDP because:

Non-traded goods, like services, are not included in GDP as they do not enter the market and hence lack market prices.
Fani Warraich ECONOMICS   -   Macroeconomics

The Keynesian assumption is a convenient analytical short cut and turns out to be a rather accurate description of the reality. What does it assume?

Keynesian economics often assumes constant prices in the short run to simplify analysis of demand-driven economic fluctuations.
Fani Warraich ECONOMICS   -   Macroeconomics

What is not a component of the GDP?

Employment rate is not directly a component of GDP, which measures the total output produced within a country.
Fani Warraich ECONOMICS   -   Macroeconomics

In short-run macroeconomic analysis, demand is often viewed as the driving force. Which component of total demand is often regarded as being independent of economic conditions and thus exogenous in the model?

Government spending and tax receipts are often treated as exogenous in short-run models, as they are determined by policy rather than economic conditions.
Fani Warraich ECONOMICS   -   Macroeconomics

Which kind of demand fluctuates the most?

Private demand for investment is highly volatile due to changes in business expectations, interest rates, and other factors.
Fani Warraich ECONOMICS   -   Macroeconomics

It is the _______ interest rate that matters for spending decisions and the _______ interest rate that is relevant when we look at monetary questions.

The real interest rate influences spending decisions by reflecting the true cost of borrowing, while nominal rates are used in monetary policy.
Fani Warraich ECONOMICS   -   Macroeconomics

The aggregate production function for the Solow growth model assumes ___________ returns to scale and _____________ marginal productivity of labour and capital.

The Solow model assumes constant returns to scale and diminishing marginal productivity for both labor and capital.
Fani Warraich ECONOMICS   -   Macroeconomics

The labour measure (L) is:

The labor measure (L) is typically the total number of employed workers multiplied by the average hours worked, reflecting the actual labor input.
Fani Warraich ECONOMICS   -   Microeconomics

The optimal capital stock is achieved when the user cost of capital is equal to:

Optimal capital stock occurs when the marginal product of capital equals the user cost of capital, balancing the costs and benefits of capital.
Fani Warraich ECONOMICS   -   Microeconomics

The essence of Engel's law is that as family income rise:

Engel's law states that as income increases, the proportion of income spent on food decreases.
Fani Warraich ECONOMICS   -   Microeconomics

The concept of opportunity cost is based upon the principle of:

Opportunity cost is based on the concept of scarcity, where choosing one option means forgoing the next best alternative.
Fani Warraich ECONOMICS   -   Microeconomics

Which of the following is an INCORRECT statement about a budget constraint?

Indifference between points on the budget constraint is incorrect; preferences between them can vary based on individual utility.
Fani Warraich ECONOMICS   -   Macroeconomics

Goal 1 of Sustainable Development Goals relates to:

Goal 1 of the SDGs focuses on ending poverty in all its forms everywhere, with a key focus on hunger.
Fani Warraich ECONOMICS   -   Macroeconomics

Financial Inclusion means:

Financial inclusion refers to ensuring that individuals and businesses have access to useful and affordable financial products and services.
Fani Warraich ECONOMICS   -   Macroeconomics

Gini coefficient is the measure of:

The Gini coefficient measures income inequality within a country, with 0 representing perfect equality and 1 indicating maximum inequality.
Fani Warraich ECONOMICS   -   Macroeconomics

Economic development is measured by:

Economic development encompasses various aspects, including sustenance, freedom, and self-esteem, reflecting overall human well-being.
Fani Warraich ECONOMICS   -   Economy of Pakistan

During FY 2022-23, Pakistan?s industrial sector growth rate is:

The industrial sector in Pakistan contracted by -2.94% during FY 2022-23.
Fani Warraich ECONOMICS   -   Economy of Pakistan

Pakistan sought ?International Monetary Fund?s Financial Assistance? ________ times in 75 years.

Pakistan has approached the IMF for financial assistance 23 times in its 75-year history.
Fani Warraich ECONOMICS   -   Economy of Pakistan

Unemployment rate is relatively higher in _______ in Pakistan as per Labor Force Survey 2020-21.

The Labor Force Survey 2020-21 indicates that the unemployment rate is relatively higher among the youth in Pakistan.
Fani Warraich ECONOMICS   -   Economy of Pakistan

Pakistan?s 1st digital population census was conducted in the year:

Pakistan conducted its first digital population census in 2023, using technology to enhance data accuracy and collection efficiency.
Fani Warraich ECONOMICS   -   Economy of Pakistan

According to the State Bank of Pakistan (SBP) redefined Act 2022, the primary function of SBP is:

The SBP Act 2022 redefines the central bank's primary objective as maintaining price stability in Pakistan.
Fani Warraich ECONOMICS   -   Economy of Pakistan

The CPI inflation for FY 2022-23 is:

The Consumer Price Index (CPI) inflation for Pakistan in FY 2022-23 was 29.3%, reflecting a significant rise in prices.
Fani Warraich ECONOMICS   -   Macroeconomics

Core inflation measures:

Core inflation typically excludes volatile items such as food and energy, focusing on the CPI to measure underlying inflation trends.
Fani Warraich ECONOMICS   -   Macroeconomics

Okun?s Law defines the relationship between:

Okun's Law states that there is an inverse relationship between unemployment and GDP growth, with higher growth reducing unemployment.
Fani Warraich ECONOMICS   -   Macroeconomics

GDP measures ?all goods and services _________________________ produced in a given year?.

GDP measures the total market value of all goods and services produced within a country's borders in a given year.
Fani Warraich ECONOMICS   -   Macroeconomics

The monetary policy tools are used for:

Monetary policy tools are used by central banks to achieve multiple objectives, including price stability, financial stability, and economic growth.
Fani Warraich ECONOMICS   -   Macroeconomics

Quantity theory of money states that when the quantity of money increases, the value of money:

According to the quantity theory of money, an increase in the money supply leads to a proportional decrease in the value of money, leading to inflation.
Fani Warraich ECONOMICS   -   Macroeconomics

Fiscal and monetary policies are used to:

Fiscal and monetary policies are primarily used to stabilize the economy by managing demand and controlling inflation.
Fani Warraich ECONOMICS   -   Macroeconomics

GNP measures:

Gross National Product (GNP) measures the total production and income of a nation, including income earned abroad by its residents.
Fani Warraich ECONOMICS   -   Macroeconomics

In Pakistan, investment as a percentage of GDP is lower than:

Pakistan's investment as a percentage of GDP is lower compared to India, China, and Bangladesh, indicating challenges in attracting investment.
Fani Warraich ECONOMICS   -   Macroeconomics

Economic recession is defined as reduced economic activities and employment levels for at least:

An economic recession is typically defined as two consecutive quarters of negative GDP growth, leading to reduced economic activity and higher unemployment.

Contributor(7)

Fani Warraich
Anna
Janib Khan
Bashir Farooqi
Muhammad Tayyab Ikhlas
Sumera Nawaz
Sidis