Question # 1

The primary use to the kinked-demand curve is to explain price rigidity in:

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Oligopoly

Monopoly

Perfect competition

Monopolistic competition

Ina parliamentary form of government minsters are appointed by:

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The head of he state at his discretion

The head of the government

The legislature

the head of he state on the recommendation of the head of the government

The reason for cost push inflation is:

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Increase in money wages

Increase in rate of profit

Both of above

None of the above

Which does the government not control directly?

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Spending on health

Spending on defence

Firms investment decisions

Spending on education

When was Common Market for Eastern and Southern African (COMESA) formed?

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1995

1994

1992

1991

Which one of the following is not an element of Democratic Socialism?

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Welfare state

Mixed economy

Social justice

Revolutionary change

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

FSBS means:

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Finger stick body sugar

Final stick blood sugar

Finger strict Blood sugar

Finger stick blood sugar

Fiscal deficit in the budget means:

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Revenue deficit plus the net borrowings of the government

Budgetary deficit plus the net borrowings of the government

Capital deficit plus revenue deficit

Primary deficit minus capital deficit

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

To reduce the supply of money the government could:

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Reduce interest rates

Buy back government bonds

Sell government bonds

Encourage banks to lend

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