Question # 1

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

In a cartel member firm may be given be given a fixed amount to produce. This is called a:

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Limit

Factor

Quota

Quotient

A State without a Constitution would not be a state but a regime of anarchy, This is state by:

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Aristotle

Bryce

Jellineck

Dicey

What is the single most important factor that makes the markets works?

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Money

Alan Greenspan

Markets don't works

Greed

For a perfectly competitive firm:

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Price equals marginal revenue

Price is greater than marginal revenue

Price equals total revenue

Price equals total cost

According to the utility model of consumer demand the law of diminishing marginal utility indicates that the demand curve is:

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Downward sloping

U-shaped

Upward sloping

Vertical

To control inflation the central bank should do:

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To sell government securities and to decrease bank rate

To sell government securities and to increase bank rate

To purchase government securities and to increase bank rate

To purchase government securities and to decrease bank rate

What is the full form of the STD?

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Straight Telephone Dialing

Straight Trunk Dialing

Subscribers Talk Dialing

Subscribers Trunk Dialing

Friedman's theory of consumption focuses on:

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Past income

Current income

Disposable income

Permanent income

Andante is usually described as:

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Brisk

Walking Pace

frenzied

Slow

GDP plus net property income from abroad equals what?

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GNP

NNP

Depreciation

Real GDP

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