ECO | MCQs

Explanation

• The period of the business cycle in which real GDP is increasing is called the "Expansion" phase.
• During an expansion, economic activity is growing, employment is typically rising, and overall economic indicators are improving.
• This phase is often characterized by increasing consumer spending, business investment, and confidence in the economy.

Explanation

If demand function for good X is given by X^D = 1500-1.3P,-1.8P + 2M then we know that goods X and Y are complements to each other.

Explanation

The aggregate demand curve slopes downward primarily due to the wealth effect, interest rate effect, and exchange rate effect.

Explanation

The biggest challenge for Pakistan's economy in 2022-23 was the rising inflation, which can significantly impact the purchasing power of citizens and overall economic stability.

Explanation

• Acceleration is not typically considered a part of the business cycle.
• The parts of the business cycle are usually identified as expansion (or boom), peak, recession (or slump), trough, and recovery.
  

Explanation

The services sector typically contributes the largest share to Pakistan's GDP.

Explanation

1. USA: $ 20.5 Trillion
2. China: $ 3.6 Trillion
3. Japan: $ 4.9 Trillion
4. Germany $ 3.9 trillion
5. India: $ 2.94 Trillion

Explanation

Explanation

The Africa fund (Action for Resisting Invasion, Colonialism and Apartheid) was instituted by NAM.

The Africa Fund was set up in 2001 to make a difference to communities we had met in East Africa.

 It came on the back of 7 years of visits we had made to churches in Uganda, and then later Kenya, Tanzania & Dr Congo, and from the outset has set out to work through relationship with trusted individuals and groups.

Explanation

Refugees were allowed to return to dispose of their property , abducted women and looted property were to be returned, forced conversions were unrecognized, and minority rights were confirm.