Question # 1

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

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European Commision

European Council

European Parliament

European Central Bank

If a few firms dominate an industry the market is known as:

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Monopolistic competition

Competitively monopolistic

Duopoly

Oligopoly

The resources in the economy do not include:

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Demand

Land

Labour

Capital

What does H-HMMWV stand for?

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High heavy mobility multipurpose wheeled vechicle

Heavy high Maintenance Multipurpose wheeled vehicle

Heavy high mobility multipurpose wheeled vehicle

Heavy high motorized multipurpose wheeled vehicle

One in which people's economic affairs can take place freely but are subject to some government intervention and regulation:

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Traditional economy

Command economy

No such thing

Mixed economy

What is meant by the term meritocracy:

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People achieving via merit

People achieving via accident of birth

People achieving because of who they know

None of these

If you see 'sfz' under a note, what does it mean?

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It is an acronym for simple,Fast,Zany

A sudden tempo increase

A slow decrease in sound

a sudden strong accent

From when did the Euro become a legal tender?

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1 December 1999

1 January 2000

1 January 2001

1 January 2002

Political liberty without economic liberty is a myth, Who has made this statement?

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Aristotle

T,H,Green

J,S, Mill

H,J, Laski

Under normal circumstances, when the price of a commodity falls. the quantity demanded will:

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Decrease

Increase

Remain unchanged

Nobody knows

The charge in quantity demanded because of the change in the relative price of the product?

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Change in quantity demanded

Change in demand

Law of demad

Substitution effect

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