Question # 1

In the factors for production market what do the house holds sell to the firms?

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Income

Labour

Goods and services

Rent

What do glasnost and perestroika mean?

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Openness and economic restructuring

Isolation and Closure

War and peace

Peace and cooperation

What is the full form of he NIPA?

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national Institute of Public Administration

New institute of Public Administration

National institute of Pakistan

National institute of Provincial Administration

A market with few entry barriers and with many firms that sell different product is:

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Purely competitive

A monopoly

Monopolistically competitive

Oligopolistic

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

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European Commision

European Council

European Parliament

European Central Bank

Adam Smith's The Wealth of nations was published in:

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1772

1773

1774

1776

Which of the following is not a direct tax?

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Income tax

Property tax

Sales tax

House tax

An Enquiry into the Nature and Causes of Wealth of Nations is the book of economics written by:

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Adam Smith

Marshall

Robbins

None of above

What do the initials SEATO stand for?

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South-East Asia Treaty Organization

South-East Asian telecom Organization

South-East Asian Telephone Organization

None to the above

Which of the following country's economy is know as high economy?

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America

U.K

Singapore

All of these

Who among the following has maintained that the modern liberal democratic state has become an industrial state:

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Galbraith

MacPherson

Keynes

Roosevelt

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