Question # 1

An increase in national income is likely to:

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Decrease tax receipts

Worsen the balance of trade

Automatically cause an increase in government spending

Cause an increase in injections into the economy

In America it is called a biscuit, What do the British call it?

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Scone

Wafer

Cookie

Cone

Which of the following is not a macroeconomic issue?

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Unemployment

Inflation

The wages paid to footballers

Economic growth

The reserves of a commercial bank consist of:

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The amount of money market funds it holds.

Deposits at the Federal Reserve Bank and vault cash

Government bonds which the bank holds

The bank's net worth.

Who gave the ''theory of comparative advantage''?

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Adam smith

Ricardo

Hicks

Albert Einstein

The four factor payment are:

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Money, capital, salaries, and income

Wages, rent, interest, and profits

Money, power, prestige, and wealth

Wages, interest, salaries, and income

Who among he following talked of development tarp'?

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Lucian Pye

Fred Riggs

Myron Weiner

Edward shils

The term 'Socialism' was first used by

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Robert Owen

Karl Marx

Lenin

Bernstein

Which of the following established as the Breton Woods Conference in 1944?

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IMF

World Bank

WHO

Both a & b

What is the effect the economy if reducing involuntary unemployment?

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It helps the economy move on to the Helps shift the economy move on to the Production Possibility Frontier

Helps shift the economy's production Possibility Frontier out wards

Helps the economy move along its Production possibility Frontier

Helps the economy Frontier

Who became the first president of the European Central Bank?

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Wim Duisenberg

Jean-Claude Trichet

Alexandre Lamfalussy

Philippe Maystadt

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