Terminology MCQs Online Test

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Sr.#	Question	Answer
1	An outward shift of the production possibility frontier may be caused by:	A. An increase in demand B. More government spending C. Better training of employees D. Productive inefficiency
2	Political liberty without economic liberty is a myth, Who has made this statement?	A. Aristotle B. T,H,Green C. J,S, Mill D. H,J, Laski
3	The word 'Polis' relates to:	A. Police B. Civil Administration C. City State D. Public opinion
4	The concept of premium applies to a person that is:	A. Risk loving B. Risk averse C. Risk neutral D. None of them
5	In a less Developed Country:	A. The Infrastructure is likely to be good B. Real wages are likely to be high C. Unemployment is likely to be low D. The primary sector is likely to be significant
6	When an economy first begins to grow more slowly:	A. GDP increases B. Inflation is like to increase C. Stock levels are likely to increase D. Investment in equipment is likely to increase
7	What is concurrent writ?	A. Cancellation of original writ B. Two identical writs C. Duplicate to original writ D. Additional to original writ
8	Who wrote ''An inquiry into the Nature and Causes of the Wealth of National''?	A. Lionel Robbins B. Adam Smith C. Paul Samuelson D. Enrico Barone
9	A form of government in which minority rules outside the law is:	A. Oligarchy B. Tyranny C. Aristocracy D. Democracy
10	When did the Euro banknotes and coins start to circulated:	A. January 1,2002 B. December 1,2001 C. July 1, 2002 D. January 1, 2003