Question # 1

Economics word is derived form language of:

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Greek

French

Latin

Italian

who among the following is associated with the Iron Law of Oligarchy?

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Michels

Mosca

Mills

Laski

Feeling of loyalty and attachment to one's nation or nation-state and strong support for tits interests is known as:

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Loyalty

Nationalism

Patriotism

none of these

What is a hard currency?

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Whose external value is increasing

Which can be acquired only with official permission

Which can be obtained only against sale of gold

Which is accepted in International transactions

What do glasnost and perestroika mean?

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Openness and economic restructuring

Isolation and Closure

War and peace

Peace and cooperation

Net investment is

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Gross investment minus household investment

Gross investment minus govt.investment

Gross investment minus capital consumption allowance

None of the above

What is necessary to control cost push inflation?

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To impose control on wages of labour

To remove market imperfections

Both of the above

None of the above

We measure national income by this method

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Expenditure method

Income method

Produnt method

All of the above

According to Marshall, the basis to consumer surplus is:

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Law of diminishing marginal utility

Law of equimarginal utility

Law of proportions

All of the above

What is the full form of GPRS?

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General Packet Radio Serial

General Packet Ratio Service

General Packet Radio service

General practical Radio service

'Closed Economy' is that economy in which:

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Only export takes place

Money supply is fully controlled

Deficit financing takes place

Neither export nor import takes place

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