Question # 1

Barriers to entry do not include:

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Patents

Internal economies of scale

Mobility of resources

High investment costs

An increase in national income is likely to:

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Decrease tax receipts

Worsen the balance of trade

Automatically cause an increase in government spending

Cause an increase in injections into the economy

Who made the decision to name a single currency the Euro?

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European Commision

European Council

European Parliament

European Central Bank

The precautionary demand for money is:

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An idle balance

An active balance

Directly related to interest rates

Inversely related to income

The free market involves:

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The free provision of products

The subsidising of products by the government

Market forces of supply and demand

All trad via barter

Profit is measured by:

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Revenue - fixed costs

fixed cost + revenue

Revenue - sales

Revenue - total costs

''The State in which all authority and powers are vested in a single center, whose will and agents are legally omnipotent over the whole are'' is known as:

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Unitary Government

F3ederal Government

Parliamentary Government

Presidential Government

What does stesso mean?

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Same

more motion

stop

quicker

Gross National Product is equal to?

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Net National product adjusted for inflation

Gross Domestic product adjusted for inflation

Gross Domestic product plus net property income from abroad

Net National Product plus not property income from abroad

Which one of the following is not a demerit of party system?

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Parties fight for their own interest

Party system destroys the individuality of man

Parties produce unnatural divisions

Parties harmonise the organs of government

Menu costs in relation to inflation refer to:

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Costs of finding better raters of return

Cost of altering price lists

Costs of money increasing its value

Costs of revaluing the currency

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