Question # 1

What is meant by the term meritocracy:

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People achieving via merit

People achieving via accident of birth

People achieving because of who they know

None of these

The term dollar is not a part of the name of the currency in which of the following countries?

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Malaysia

Italy

Singapore

USA

Which of the following is not a feature of Unitary System of the Government?

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Administrative unity

Administrative empowerment

National unity

A coordination between national unity and Local self administration

If a few firms dominate an industry the market is known as:

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Monopolistic competition

Competitively monopolistic

Duopoly

Oligopoly

What is the full form of he NIPA?

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national Institute of Public Administration

New institute of Public Administration

National institute of Pakistan

National institute of Provincial Administration

What does the FBI stand for?

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Federal Bureau of Investigation

Frank and Ben Inc

French Banking industry

Father Brother ideas

The term 'Animal Spirit' was used by Keynes for?

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Consumption

Investment

Income

Interest

Which sector contributes the highest share in Gross domestic Saving?

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Domestic sector

Public Sector

Government sector

Private Corporate sector

If the price elasticity of demand is unit then a fall in price:

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Reduces revenue

Leaves revenue unchanged

Increases revenue

Reduces costs

What does the Latin word 'chronos' mean?

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Circle

Old

Time

Distance

Who defined "Economics is the Science of Wealth"?

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J.K Mehta

Marshall

Adam Smith

Robbins

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