Question # 1

The basic different between the ''short run''and the ''long run'' is that:

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All cost are fixed in the short run, but all costs are variable i8n the long run

The law of diminishing returns applies in the long run, but not in the short run.

At least one resource is fixed in the short run while all resources are variable in the long run

Economies of scale may be present in the short run, but not in the long run.

What is the full form of the LASER?

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Leg Amputation by Stimulated Emission of Radiation

Light Amputation by Systematic Emission of Radiation

Light Amplification by stimulated Emission of Radiation

Light Amputation by Stimulated Exit of Radiation

According to Marshall, the basis to consumer surplus is:

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Law of diminishing marginal utility

Law of equimarginal utility

Law of proportions

All of the above

In common meaning inflation is a condition in which__

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Price of commodity increases

Value of money decreases

Price of Commodity and value of both increases

Price of commodity increases and value of money decreases

What is a 'buttock line'?

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A row of locking gimbals

The location at which cockpit seats are located

An imaginary vertical line that separates the right and left side of an aircraft

The alignment of landing gear wheels installed on an aircraft

Which one of the following is the main feature of deliberative democracy?

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Parliamentary Sovereignty

Executive supremacy

Judicial autonomy

People effective participation

What is the full form of the STD?

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Straight Telephone Dialing

Straight Trunk Dialing

Subscribers Talk Dialing

Subscribers Trunk Dialing

A budgetary deficit means:

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Total expenditure is more than total revenue

Current expenditure is more than current revenue

Capital expenditure is more than capital revenue

Total expenditure is more than current revenue

The reduce the Federal funds rate the fed can:

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Buy government bonds form the public

Increase the discount rate

Sell government bonds to commercial banks

Increase the prime interest rate

Ultimate burden of tax is known as

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Impact

Incidence

shifting of tax

Property tax

What was meant by the term 'Bluestockings'?

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A term used to describe 18th century guilt stocks

Senior Knight of he Garter

An unflattering term of describe an educated woman

A term used to describe an expensive

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