Question # 1

What did the term 'Ironclad' refer to?

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The first Kinghts to wear to wear amour

The first armoured vehicles

A guaranteed prposition or word of honour

A class of warships

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

What theory explains why deflation may actually lead to an increase in GDP?

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Solow effect

Rational expectations

Pigou effect

Adaptive expectations

Max weber's term for lower made legitimate by a leader's exceptional personal or emotional appeal to his or her followers:

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Causal logic

Charismatic authority

Cohabitation

Closed system

VPP stands for:

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Value Payable post

Vary Payable post

Value payable please

Value please post

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

A significant increase in the government budget deficit is likely to:

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Reduce injections into the economy

Reduce national income

Move the economy away from full employment

Boost aggregate demand

The value of money varies:

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Inversely with the price level

Directly either the volume of employment

Directly with the price level

Directly with the interest rate

Who determines price under perfect competition?

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Representative firm

Industry

Normal firm

Government

The military abbreviation APO stands for what?

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Army Post Office

Army Private Office

Air Force Public Officer

What does sempre mean?

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Until

Quiet

Stop

Always

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