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Old Tuesday, December 31, 2013
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Noman Ali Noman Ali is offline
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longest day and shortest night is observed on 22nd Decemebr in Melbourane
I answerd it Karachi which is wrong


Who presented model of monoplistic competition? Chamberlin
first 5 year plan was started in 1955


in long run equilibruim a perfectly competitive firm earns: Zero prfoit

most regressive form of taxation is: Excise tax

We take guidence about how to offer prayer from Hadith. Quran Pak has the commandment while the detail about No. of Rakat and timings is in Hadith. Sunnah is not the correct answer as per my knowledge

a monoplist in a labor market: Single buyer/single seller/ both/ none
I answered it none because there is no monoply in labor market

Quote:
Originally Posted by exclusively View Post
I attempted only 35 to 38 questions and left rest of the questions.

GK PART
1. Little boy Bomb on Hiroshima.....................................2
2. Rising Sun JAPAN............................................. .................2
3. Islamabad capital-shif from khi-ayub.....I attempted Z.A Bhuto..Minus 1
4. Moon colour ? man in space during lunar eclipse............Skipped
5. Hazrat Umar funeral prayer-Suhaib romi .................Skipped
6. Hazrat Abu bakrs mother title-umal khair..............Skipped
7. Mecury closest to sun-.......................2
8. Two nation theory-...........................2
9. Lucknow pact-quaid azam main architect............2
10. Basic computer language-..............................2
11. Akhund Azizullah Sindhi quran first....................2 (I had read it somewhere Mallah... I did it correct ......2
12. Prayer way from sunnat.............................2
13. First 5 year planning start .............skipped

Economics
1. Polulation theory Malthus-............................2
2. Labour planning-............................................2 ( all of the above)
3. Labour welfare does not include= health, edu, home, and quick promotion.................2
4. Micro economics refers to individual unit...............2
5. Proportional tax is flat tax.....................ata tha ni kia damn it
6. Most regressive is sales tax..................2 ( Excise Tax)
7. Capitalism refers to..............................(its answer was ( Free markets)
Capital is not based on equality or equal profit some thing like this, nevertheless I did it correct
..................2
8. Per capita income formula national income divided by population.....2
9. Canon of equity social justice, porgressive tax, both a and b(correct answer) and none of these........Answer was b....: 2
10. Index to measure inflation-CPI...............2
11. Propensity to consume......................Skipped
12. Isoquant is convex to origin ............... (Due to Declining MRS) Skipped
13. Inconsistent to notion of profit competition-............Again did not attempt it, Though I new the answer, but was not fully sure....that's why skipped it also..
14. Assumption indifference curve-............2 ( none of these)
15. Monopsony -one purchaser/buyer ...............2
16. Law of demand ........................................2
17. Depreciation value-capital good ......Aray Yar very easy question, don't know why I did not attempt it....
18. Devaluation –official decrease in money ..........2
19. Demand curve-ordinary good ...................Was little doubt ( its correct)
, skipped it.
20. Difference between economic profit and account profit............. ( Implicit Cost)
21. Central bank-not function: a) loan business and individual......2
22. Money function-a) medium of exchange and store value........In this question, I could not make sure about between the two options, very lil difficult to attempt correct ans. so I skipped
23. Monetary policy- to supply money...................2
24. In marketing selling and buying: primary function............2
25. Buyer market in which b) supply exceeds demand............I think I did same
26. Transfer of payment:..........skipped
27. To decrease unemployment.................2
28. Equity.... ans was b (both a and b.........2
29. Black......................2
30. Double Counting...........2
31. Madina.................... (is right ans Kufa? ( Basra )

If anybody deducts any wrong ans attempted by me, must point it out...

Test was average. It was not too much touch.

Some questions very very tricky, I just skipped them... They did not ask questions from Law and Supply chapters except two questions, also they skipped marginal and total utilities to diminishing functions, no question about curve sloping. This is really bad. I prepared diagram for them to understand curves directions in perspective of goods, but questions were not asked from that portion too....



I think minimum minimum I have earned more than 55 plus marks, now don't know that what is the passing marks. If any body knows the passing marks, must do tell me.

Thanks in anticipation...

I have edited a few answer

1. Canon of Equality:
The word equality here does not mean that everyone should pay the exact, equal amount of tax. What equality really means here is that the rich people should pay more taxes and the poor pay less. This is because the amount of tax should be in proportion to the abilities of the tax payer. It is one of the fundamental concepts to bring social equality in the country.

The canon of equality states that there should be justice, in the form of equality, when it comes to paying taxes. Not only does it bring social justice, it is also one of the primary means for reaching the equal distribution of wealth in an economy.

Reference:
http://hunbbel-meer.hubpages.com/hub...n-in-Economics

Quote:
Originally Posted by Noman Ali View Post
1. Canon of Equality:
The word equality here does not mean that everyone should pay the exact, equal amount of tax. What equality really means here is that the rich people should pay more taxes and the poor pay less. This is because the amount of tax should be in proportion to the abilities of the tax payer. It is one of the fundamental concepts to bring social equality in the country.

The canon of equality states that there should be justice, in the form of equality, when it comes to paying taxes. Not only does it bring social justice, it is also one of the primary means for reaching the equal distribution of wealth in an economy.

Reference:
http://hunbbel-meer.hubpages.com/hub...n-in-Economics
I have attempted 47 Questions 40 are correct 1 is doubtful while 6 are wrong.

Last edited by Amna; Wednesday, January 01, 2014 at 12:30 AM. Reason: merged
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