Question # 1

Which is not the characteristic of socialist or planned economy?

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Government is the owner of resources

Production decisions are determined by the government

Profit motive

None of the above

In which of the following industry structures is the entry of new firms the most difficult?

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Pure monopoly

Oligopoly

Monopolistic competition

Pure competiton

Hobbes gives individual the right to disobey the sovereign for?

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Self Preservation

Protection of Freedom

Removing injustice

Depletion method of depreciation is used in case of:

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Cattle, Loose Tools, etc

Mines, Quarries, etc

Machinery, Building, etc

Books

Passive factor of production is:

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Only land

Only capital

Both land and capital

Neither land nor capital

Open Market Operations occur when the government:

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Reduces the interest rate

Buys and sells bonds and securities

Increases taxation

Increases the exchange rate

Which of the following is an indirect tax?

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Coroporation tax

Excise Duty

Wealth tax

Capital Gains tax

The requirement that people select mates outside certain groups:

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Exogamy

Ethnography

Endogamy

Incest taboo

For Precise measurements of small weights we use the term'troy' what is its historic origin?

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The word is linked to the idea of ' three and is related to the Russian troika

Unit of Weight current in the medieval town of Troy

Unit of weight current in the medieval town of Troyes in France

It was first used by Heinrich Schliemann tor the fine measurements of weight he had to carry out whe

Who wrote 'The general Theory of Employment,interest and money''?

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Woodrow wilson

David Hume

Paul Samuelson

John Maynard Keynes

The difference between gross investment and net investment is:

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Depreciation

Acceleration

Capital investment

Deceleration

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