Question # 1

Investment depends mainly on:

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Past levels of income

Futures expected profits

Present National Income levels

Historic data

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 TOEFL?

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Technical of English as a Foreign Language

Test of English as a foreign Language

Test of English as formal Language

Test of English as a final Language

Developing economies usually:

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Have large industrialized sectors

Are dependent on primary products

Have high levels of wealth

Earn more form exports than is spent on imports

What does LIPS means?

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Last inning Pressure situations

Last inning Pitching Situations

Lats inning pressure situations

late inning pitching situations

What was the meaning of the term the Cisalpine Republic?

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Republic formed by Napoleon Bonaparte

A Frankish republic

Part of he Roman Republic

A republic set up by Giuseppe Garibaldi

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

In comparison to revenue deficit; the size of fiscal deficit is always

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Higher

Smaller

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Uncertain

Who among he following gave the concept of 'mass' mind?

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Pareto

Mosca

Michels

Gassef

Who has given scarcity definition of economics?

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Adam Smith

Marshall

Robbins

Robertson

You might take your little puppy to what kind of doctor?

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DDS

DVM

MD

DC

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