Question # 1

The abbreviation NASA stands for which of the following:

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National Association safely Association

National Aeronautics and Space

National Aeronautics and Space Admi9nsitraion

North American Space Administration

When the rate of money inflation increase then the prices of commodities?

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Increase

Decrease

Remain constant

Do not change

What is "Dumping"?

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The sale of the sub-standard commodity

Sale in a foreign market of a commodity at a price below marginal cost

Sale in a foreign market of a commodity just at marginal cost without too much of profit

Smuggling of goods without paying any customs duty

When was Bank of Central African States formed?

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1974

1978

1973

1979

In a less Developed Country:

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The Infrastructure is likely to be good

Real wages are likely to be high

Unemployment is likely to be low

The primary sector is likely to be significant

The term 'Ethnic' is derived form the ______ word meaning 'nation'

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Latin

Greek

Malayalee

Polynesian

Globalization is likely to increase with:

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More protectionism

An increase in tariffs

More trade within countries

Greater trade flows between countries

The concept of disinvestment was introduced by:

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Friedman

Kaldor

Keynes

Myrdal

An increase in aggregate demand is more likely to lead to demand id more likely to lead to demand pull inflation if:

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Aggregates supply is perfectly elastic

Aggregate supply is perfectly inelastic

Aggregates supply is relatively elastic

Aggregate supply is relatively elastic

Process of economic development means:

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Economic change

Social change

Ethical, institutional and cultural change

All of these

Which is not the characteristic of socialist or planned economy?

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Government is the owner of resources

Production decisions are determined by the government

Profit motive

None of the above

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