McqMate
| 1001. |
The situation in which the same tax base is taxed more than once is called: |
| A. | Direct Taxation |
| B. | Double Taxation |
| C. | Indirect Taxation |
| D. | None of the above |
| Answer» B. Double Taxation | |
| 1002. |
A daily index of prices on the principal stock exchange in New York is called: |
| A. | Dow Jones industrial average |
| B. | Equity market indexl |
| C. | Both of the above |
| D. | None of the above |
| Answer» A. Dow Jones industrial average | |
| 1003. |
Large-scale shedding of employees by major corporations sometimes referred to the disposal of subsidiaries and other unwanted activities is called: |
| A. | Downsizing |
| B. | Rightsizing |
| C. | Both of the above |
| D. | None of the above |
| Answer» C. Both of the above | |
| 1004. |
Two sellers only of a good or service in a market. This situation is: |
| A. | Monopoly |
| B. | Duopoly |
| C. | Oligopoly |
| D. | None of the above |
| Answer» B. Duopoly | |
| 1005. |
Consumer goods that yield services or utility over time rather than being used up instantly are termed as |
| A. | Durable Goods |
| B. | Undurable Goods |
| C. | Both of the above |
| D. | None of the above |
| Answer» A. Durable Goods | |
| 1006. |
The setting up of mathematical models describing economic relationship testing the validity of such hypotheses is termed as: |
| A. | Econometrics |
| B. | Commerce |
| C. | Trade |
| D. | Finance |
| Answer» A. Econometrics | |
| 1007. |
Any physical object, natural or man made, or service renderal: that could command a price in market is called: |
| A. | Consumer Goods |
| B. | Final Goods |
| C. | Economic Goods |
| D. | All of the above |
| Answer» C. Economic Goods | |
| 1008. |
The exploitation of developing countries by advanced countries is called: |
| A. | Embargoes |
| B. | Sanctions |
| C. | Economic Imperialism |
| D. | None of the above |
| Answer» C. Economic Imperialism | |
| 1009. |
A measure taken in respect of economic activity that has the intention of damage to another country’s economy is called: |
| A. | Economic Exploitation |
| B. | Economic Sanction |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Economic Sanction | |
| 1010. |
Which sector is the largest and fastest growing sector of the world economy, providing more than 60% of global output? |
| A. | Agricultural Sector |
| B. | Service Sector |
| C. | Industrial Sector |
| D. | Forestry |
| Answer» B. Service Sector | |
| 1011. |
The non-discrimination principle means treating one’s trading partners equally. It guarantees equal opportunities for suppliers from all World Trade Organization members. It is called: |
| A. | Most-Favoured Nation (MFN) |
| B. | South Asian Free Trade Area (SAFTA) |
| C. | General Agreement on Tariffs and Trade (GATT) |
| D. | None of the above |
| Answer» A. Most-Favoured Nation (MFN) | |
| 1012. |
The World Trade Organization (WTO) is the only international body dealing with the rules of trade between nations. The World Trade Organization began life on 1st of |
| A. | January 1993 |
| B. | January 1994 |
| C. | January 1995 |
| D. | January 1996 |
| Answer» C. January 1995 | |
| 1013. |
The main objectives of the World Trade Organization are |
| A. | To help trade flow as freely as possible. |
| B. | To serve as a form for trade negotiations |
| C. | To settle dispute between conflicting trade interests |
| D. | All of the above |
| Answer» D. All of the above | |
| 1014. |
The General Agreement on Tariffs and Trade (GATT) is the predecessor of World Trade Organization. It entered into force in. |
| A. | January 1946 |
| B. | January 1947 |
| C. | January 1948 |
| D. | January 1949 |
| Answer» C. January 1948 | |
| 1015. |
In 1947 how many states did take part in the General Agreement on Tariffs and Trade trade round in Geneva? |
| A. | 13 |
| B. | 23 |
| C. | 33 |
| D. | 43 |
| Answer» B. 23 | |
| 1016. |
The first director general of General Agreement on Tariffs and Trade from 1948-68 was |
| A. | Sir Eric Wyndham White (UK) |
| B. | Mike Moore (New Zealand) |
| C. | Don McKinon (New Zeala |
| Answer» A. Sir Eric Wyndham White (UK) | |
| 1017. |
In 1999, who became the third director general of World Trade Organization? |
| A. | Olivier Long (Switzerland) |
| B. | Renato Ruggiero (Italy) |
| C. | Peter Sutherland (Irela |
| Answer» D. | |
| 1018. |
The General Agreement on Tariffs and Trade trade rounds concentrated on reducing tariffs. Which round was the first major attempt to tackle trade barriers and to improve the system? This eighth round is called: |
| A. | Kennedy Round |
| B. | Tokyo Round |
| C. | Uruguay Round |
| D. | All of the above |
| Answer» C. Uruguay Round | |
| 1019. |
Which trade round was the latest and most extensive of all and it finally led to the World Trade Organization and a new set of agreements. It lasted from 1986 to 1994. |
| A. | Kennedy Round |
| B. | Tokyo Round |
| C. | Doha Round |
| D. | Uruguay Round |
| Answer» D. Uruguay Round | |
| 1020. |
The 1986-1994 Uruguay Round achieved agrement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Which of the following are the types of intellectual property? |
| A. | Copyrights and related rights |
| B. | Trademarks including service marks |
| C. | Industrial design, patents, layout designs etc |
| D. | All of the above |
| Answer» D. All of the above | |
| 1021. |
Topmost authority of World Trade Organization is the ministerial conference which has to meet at least once every |
| A. | 1 year |
| B. | 2 years |
| C. | 3 years |
| D. | 4 years |
| Answer» B. 2 years | |
| 1022. |
The “Ouadrilaterals” or the “Quad” are the four largest members. Besides European Union others are |
| A. | United States |
| B. | Canada |
| C. | Japan |
| D. | All of the above |
| Answer» D. All of the above | |
| 1023. |
On 9-13 November, 2001 the World Trade Organization’s Fourth Ministerial Conference held in: |
| A. | Istanbul (Turkey) |
| B. | Dubai (U.A.E) |
| C. | Doha (Qatar) |
| D. | Tehran (Iran) |
| Answer» C. Doha (Qatar) | |
| 1024. |
The World Trade Organization secretariat is headed by a director-general, has around 500 staff and is based in: |
| A. | New York |
| B. | Rome |
| C. | Geneva |
| D. | Brussels |
| Answer» C. Geneva | |
| 1025. |
Which of the following is the website address of the World Trade Organization? |
| A. | http://www.wto.com |
| B. | http://www.wto.org |
| C. | http://www.wtosecretariat.org |
| D. | http://www.wtosecretariat.com |
| Answer» B. http://www.wto.org | |
| 1026. |
By the end of June 2002, the World Trade Organization had 144 members and around 34 observer governments. With how many years of becoming observers, these observers must start accession negotiations? |
| A. | 2 years |
| B. | 3 years |
| C. | 4 years |
| D. | 5 years |
| Answer» D. 5 years | |
| 1027. |
Which law of economics states that “with given preferences or tastes, the proportion of income spent on food diminishes as income increase”? |
| A. | Common Law |
| B. | Engel’s Law |
| C. | Newton’s Law |
| D. | None of the above |
| Answer» B. Engel’s Law | |
| 1028. |
The economic agent who perceives market opportunities and assembles the factors of production to exploit them in a firm is referred to as |
| A. | Broker |
| B. | Entrepreneur |
| C. | Middle Agent |
| D. | Promotor |
| Answer» B. Entrepreneur | |
| 1029. |
The residual value of a company’s assets after all outside liabilities have been allowed for is called |
| A. | Capital |
| B. | Annuity |
| C. | Equity |
| D. | Business |
| Answer» C. Equity | |
| 1030. |
Enterprise is the controlling unit of a business. The operating unit of a business is called: |
| A. | Firm |
| B. | Establishment |
| C. | Bureaucracy |
| D. | Organization |
| Answer» B. Establishment | |
| 1031. |
The difference between the amount produced by a firm and the higher amount that could most efficiently be produced is termed as: |
| A. | Excess Profit |
| B. | Excess Supply |
| C. | Excess Capacity |
| D. | Excess Demand |
| Answer» C. Excess Capacity | |
| 1032. |
The control by the state through the banking system of dealings in gold and foreign currencies is called |
| A. | Exchange Control |
| B. | Exchange Economy |
| C. | Autarky |
| D. | None of the above |
| Answer» A. Exchange Control | |
| 1033. |
The price at which one currency is exchanged for another currency is known as: |
| A. | Exchange Control |
| B. | Exchange Rate |
| C. | Exchange Economy |
| D. | All of the above |
| Answer» B. Exchange Rate | |
| 1034. |
Indirect taxies levied upon goods produced for home consumption are called: |
| A. | Custom duties |
| B. | Excise duties |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Excise duties | |
| 1035. |
Preferential treatment for firms that sell their products abroad, compared with firms that sell to the home market; is called: |
| A. | Export Surplus |
| B. | Export Rebate |
| C. | Export Incentives |
| D. | All of the above |
| Answer» C. Export Incentives | |
| 1036. |
The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called |
| A. | Import |
| B. | Export |
| C. | All of the above |
| D. | None of the above |
| Answer» B. Export | |
| 1037. |
The ratio of the total increase in a country’s national income to the increment in export revenue generating the increase is called: |
| A. | Export Surplus |
| B. | Export Incentive |
| C. | Export Multiplier |
| D. | All of the above |
| Answer» C. Export Multiplier | |
| 1038. |
Goods which are produced for consumption rather than as an intermediate product used in the process of production are referred to as: |
| A. | By Product |
| B. | Final Goods |
| C. | Durable Goods |
| D. | Intermediate Goods |
| Answer» B. Final Goods | |
| 1039. |
The provision of money when and where needed is called: |
| A. | Business |
| B. | Economics |
| C. | Finance |
| D. | Trade |
| Answer» C. Finance | |
| 1040. |
The period of account used for financial purposes is known as: |
| A. | Financial Year |
| B. | Fiscal Year |
| C. | Both of the above |
| D. | None of the above |
| Answer» C. Both of the above | |
| 1041. |
The budgetary stance of central government is called: |
| A. | Trade Policy |
| B. | Fiscal Policy |
| C. | Economic Policy |
| D. | None of the above |
| Answer» B. Fiscal Policy | |
| 1042. |
The capital that is not invested in fixed assets but the work in process is called: |
| A. | Floating Change |
| B. | Floating debt |
| C. | Floating Trust. |
| D. | Floating Capital |
| Answer» D. Floating Capital | |
| 1043. |
The administered transfer of resources from the advanced countries to the developing countries for the purpose of encouraging economic growth is called: |
| A. | Foreign Exchange |
| B. | Foreign Balance |
| C. | Foreign Aid |
| D. | Foreign Reserves |
| Answer» C. Foreign Aid | |
| 1044. |
Claims on another country held in the form of the currency of that country are known as: |
| A. | Foreign Aid |
| B. | Foreign Exchange |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Foreign Exchange | |
| 1045. |
What is meant by foreign investment? |
| A. | The market in which transactions are conducted to effect the transfer of the currency of one country into that of another |
| B. | The transfer of resources from developed to developing countries. |
| C. | The acquistion by governments, institutions or individuals in one country of assets in another. |
| D. | All of the above |
| Answer» C. The acquistion by governments, institutions or individuals in one country of assets in another. | |
| 1046. |
The contractual arrangement under which an independent franchisee produces or sells a product or service under the brand name of the franchiser is known as |
| A. | Franchising |
| B. | License |
| C. | Warrant |
| D. | Charter |
| Answer» A. Franchising | |
| 1047. |
A market in which supply and demand are not subject to regulation other than normal competition policy is termed: |
| A. | Forward Market |
| B. | Free Market |
| C. | Foreign-exchange Market |
| D. | None of the above |
| Answer» B. Free Market | |
| 1048. |
The condition in which the independent flow of goods and services in international exchange is neither restricted nor encouraged by direct government intervention is known as: |
| A. | Free Trade |
| B. | Barter Trade |
| C. | Both of the above |
| D. | None of the above |
| Answer» A. Free Trade | |
| 1049. |
Non-wage or salary rewards provided for employees are called: |
| A. | Fringe Benefits |
| B. | Basic Pay |
| C. | Social Security |
| D. | None of the above |
| Answer» A. Fringe Benefits | |
| 1050. |
The process of converting short term to long term debt by the sale of long term securities and using the funds raised to pay off short-term debt is called: |
| A. | Funding |
| B. | Debt retirement |
| C. | Borrowing |
| D. | All of the above |
| Answer» A. Funding | |
| 1051. |
The branch of the social science that covers the study of the production, distribution and consumption of wealth in human society is known as: |
| A. | Law |
| B. | Political Science |
| C. | Anthropology |
| D. | Economics |
| Answer» D. Economics | |
| 1052. |
Which British philosopher and economist is regarded as “founder of modern Economics”? |
| A. | Thomas Malthus (1766 – 1834) |
| B. | Adam Smith (1723 – 1790) |
| C. | Karl Marx (1818 – 1883) |
| D. | All of the above |
| Answer» B. Adam Smith (1723 – 1790) | |
| 1053. |
Which famous thinker and economic philosopher said, “Religion … is the opium of the people.”? |
| A. | Adam Smith |
| B. | Thomas Malthus |
| C. | Karl Marx |
| D. | John Maynard Keynes |
| Answer» C. Karl Marx | |
| 1054. |
Who was awarded Nobel Prize of Economics in 1998? |
| A. | Ragnar Frisch |
| B. | Jan Tinbergen |
| C. | Amartya Sen |
| D. | Paul Anthony Samuelson |
| Answer» C. Amartya Sen | |
| 1055. |
Who got the first Nobel Prize in Economics in 1969? |
| A. | Jan Tinbergren |
| B. | Ragnar Frisch |
| C. | Sir John Richard Hicks |
| D. | Both a and b |
| Answer» D. Both a and b | |
| 1056. |
What is Game Theory? |
| A. | The branch of economics concerned with representing economic interactions in a highly stylized form with players pays-off and strategies. |
| B. | The branch of economics that uses mathematical methods and models e.g., calculus: statistics, probability etc |
| C. | The branch of economies related with the aggregate or overall, economy. |
| D. | The branch of economics that deals with small units, including individual companies and small group of consumers |
| Answer» A. The branch of economics concerned with representing economic interactions in a highly stylized form with players pays-off and strategies. | |
| 1057. |
A commodity for which demand increases at higher prices and falls at lower prices is termed as: |
| A. | Consumer goods |
| B. | Giffen goods |
| C. | Brown goods |
| D. | Durable goods |
| Answer» B. Giffen goods | |
| 1058. |
The geographical shifts in domestic economic activity around the world and away from nation states is called: |
| A. | Foreign Trade |
| B. | Commerce |
| C. | Globalization |
| D. | Business |
| Answer» C. Globalization | |
| 1059. |
The stocks of gold and foreign currencies held by a country to finance any calls that may be made from its creditors for the debt settlement are known as |
| A. | Foreign exchange reserves |
| B. | Gold reserves |
| C. | Gold and foreign exchange reserves |
| D. | None of the above |
| Answer» C. Gold and foreign exchange reserves | |
| 1060. |
The measure of the total flow of goods and services produced by the economy over a specified time period, normally a year or a quarter is referred to as |
| A. | Gross national product (GNP) |
| B. | Gross domestic product (GDP) |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Gross domestic product (GDP) | |
| 1061. |
The currency traded in a foreign exchange market for which demand is persistently high relative to supply is called: |
| A. | Soft currency |
| B. | Bad currency |
| C. | Hard currency |
| D. | Hot currency |
| Answer» C. Hard currency | |
| 1062. |
The action taken by a buyer or seller to product his business or assets against a change in prices is called |
| A. | Hedge |
| B. | Interest |
| C. | Shore |
| D. | Loan |
| Answer» A. Hedge | |
| 1063. |
The theory that all human action is motivated by pleasure and the avoidance of pain or the ethic that it should be so motivated. Such theory is termed as |
| A. | Sadism |
| B. | Hedonism |
| C. | Satanism |
| D. | Spiritualism |
| Answer» B. Hedonism | |
| 1064. |
The accumulation of idle money balances or inactive money is called: |
| A. | Wealth |
| B. | Hoarding |
| C. | Capital |
| D. | Investment |
| Answer» B. Hoarding | |
| 1065. |
Funds that flow into a country to take advantage of favourable rates of interest in that country are known as |
| A. | Hard currency |
| B. | Hot money |
| C. | Soft currency |
| D. | Bad money |
| Answer» B. Hot money | |
| 1066. |
The skills and knowledge embodied in the labour force are termed as: |
| A. | Investment |
| B. | Labour Capital |
| C. | Human Resources |
| D. | Human Capital |
| Answer» D. Human Capital | |
| 1067. |
What is the term used for the flow of goods and services that enter for sale into one country and which is product of another country? |
| A. | Exports |
| B. | Imports |
| C. | Income |
| D. | Gross Domestic Product (GDP) |
| Answer» B. Imports | |
| 1068. |
The flow of goods or services to any economic agent or unit is called: |
| A. | Income |
| B. | Import |
| C. | Export |
| D. | None of the above |
| Answer» A. Income | |
| 1069. |
The persistent increases in the general level of prices is known as: |
| A. | Hyperinflation |
| B. | Inflation |
| C. | Devaluation |
| D. | Recession |
| Answer» B. Inflation | |
| 1070. |
What is the term used for airports, roads, railways, sewage, telephone and other public utilities? |
| A. | Understructure |
| B. | Substructure |
| C. | Infrastructure |
| D. | Superstructure |
| Answer» C. Infrastructure | |
| 1071. |
The contract to pay a premium for which the insurer will pay compensation in certain happenings e.g., fire theft or motor accident is termed as: |
| A. | Insurance |
| B. | Warranty |
| C. | Security |
| D. | Safeguard |
| Answer» A. Insurance | |
| 1072. |
The charge made for the use of borrowed money levied as a percentage of the amount of debt is refered to as: |
| A. | Credit |
| B. | Interest |
| C. | Share |
| D. | Insurance |
| Answer» B. Interest | |
| 1073. |
The amount of gold reserve, currencies and special drawing rights available for the finance of international trade is called: |
| A. | Foreign Reserves |
| B. | International Liqiudity |
| C. | Foreign Investment |
| D. | None of the above |
| Answer» B. International Liqiudity | |
| 1074. |
What is the term for stocks of raw materials work in progress and finished goods? |
| A. | Inventory |
| B. | Checklist |
| C. | Stock |
| D. | Statement |
| Answer» A. Inventory | |
| 1075. |
The real capital formation e.g., the production or maintenance of machinary or construction that will produce a stream of goods and services is called |
| A. | Capital |
| B. | Investment |
| C. | Grant |
| D. | Property |
| Answer» B. Investment | |
| 1076. |
The demand for two or more commodities or factor of production that are used together so that a change in demand for one will be reflected in a change in demand for other e.g., cloth and thread is called |
| A. | Joint Demand |
| B. | Complementary Demand |
| C. | Isolated Demand |
| D. | Both a and b |
| Answer» D. Both a and b | |
| 1077. |
The business arrangement in which two companies invest in a project over which both have partial control is termed as: |
| A. | Joint Ventrue |
| B. | Speculation |
| C. | Project |
| D. | Undertaking |
| Answer» A. Joint Ventrue | |
| 1078. |
The total number of people in a country who are in work or unemployed but looking for work, is called: |
| A. | Labour Demand |
| B. | Labour force |
| C. | Labour Market |
| D. | None of the above |
| Answer» B. Labour force | |
| 1079. |
An agreement between the owner of a property to grant use of it to another party for a specified period at specified rent payable annually is called: |
| A. | Charter |
| B. | Contract |
| C. | Lease |
| D. | Compact |
| Answer» C. Lease | |
| 1080. |
In 1971, United Nations Conference on Trade and Development (UNCTAD) drew up a list of 24 countries having a GDP of 100 or less literacy rate of 20% or less and a share of manufacturing of 10% or less of GDP. These countries were referred to as: |
| A. | Developing Countries |
| B. | Advanced Cuntries |
| C. | Least Developed Countries |
| D. | None of the above |
| Answer» C. Least Developed Countries | |
| 1081. |
A non-negotiable order of a bank to a foreign bank authorizing payment to a person designated of a particular sum of money is known as: |
| A. | Letter of Credit |
| B. | Circular Letter of Credit |
| C. | Letter of Reference |
| D. | None of the above |
| Answer» A. Letter of Credit | |
| 1082. |
Sums of money for which account has to be made are called: |
| A. | Obligation |
| B. | Liabilities |
| C. | Misfortune |
| D. | Burden |
| Answer» B. Liabilities | |
| 1083. |
The degree to which an asset can be quickly and cheaply turned into money, is termed as: |
| A. | Insolvency |
| B. | Liquidity |
| C. | Bankruptcy |
| D. | All of the above |
| Answer» B. Liquidity | |
| 1084. |
The borrowing of a sum of money by one person, company, government or other organization from another is called: |
| A. | Usury |
| B. | Finance |
| C. | Loan |
| D. | Collateral |
| Answer» C. Loan | |
| 1085. |
The study of whole economic systems aggregating over the functioning of individual units. Specifically, it is study of national economies and the determination of national income. It is known as |
| A. | Microeconomics |
| B. | Keynesian Economics |
| C. | Macroeconomics |
| D. | Mathematical Economics |
| Answer» C. Macroeconomics | |
| 1086. |
The degree to which a firm exercise influence over the price and output in a particular market is called: |
| A. | Market Force |
| B. | Market Share |
| C. | Market Power |
| D. | Market Failure |
| Answer» C. Market Power | |
| 1087. |
Thomas Robert Malthus (1766 – 1834) was a British economist who is remembered for his essays on population. In his which famous work he said, “Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio.”? |
| A. | Principles of Political Economy |
| B. | An Inquiry into the Nature and Progress of Rent |
| C. | An Essay on the Principle of Population |
| D. | Illustrations of Political Economy |
| Answer» C. An Essay on the Principle of Population | |
| 1088. |
Adam Smith (1723 – 1790) was a British economist and philosopher. Which treatise of Adam Smith is considered the first serious attempt in the history of economics to divorce the study of political economy from the related fields of political science, ethics and jurisprudence? |
| A. | Theory of Moral Sentiments |
| B. | The Wealth of Nations |
| C. | Principles of Political Economy |
| D. | Illustrations of Political Economy |
| Answer» B. The Wealth of Nations | |
| 1089. |
Karl Marx (1818 – 1883) was a German political philosopher and economist. He is one of the most influential thinkers of all times. Which of the following is his work? |
| A. | The Communist Manifesto |
| B. | Critique of Political Economy |
| C. | Das Kapital |
| D. | All of the above |
| Answer» D. All of the above | |
| 1090. |
The Communist Manifesto appeared in 1848. It is regarded as a classic exposition of modern Communist views and it influenced all subsequent Communist literature. Karl Marx completed it alongwith |
| A. | Friedrich Engels |
| B. | Thomas Mathus |
| C. | Adam Smith |
| D. | Vladimir Illich Lenin |
| Answer» A. Friedrich Engels | |
| 1091. |
The first volume of Karl Marx’s greatest work Das kapital was published in 1887. The next two volumes were published posthumously. Who edited those volumes? |
| A. | Adam Smith |
| B. | Thomas Malthus |
| C. | Friendrich Engles |
| D. | Josphe Stalin |
| Answer» C. Friendrich Engles | |
| 1092. |
The branch of economics concerned with how businesses raise and spend their money is known as |
| A. | Econometrics |
| B. | Finance |
| C. | Macroeconomics |
| D. | Corporate Finance. |
| Answer» D. Corporate Finance. | |
| 1093. |
The branch of economics concerned with providing funds to individuals, business and governments is called: |
| A. | Econometrics |
| B. | Microeconomics |
| C. | Macroeconomics |
| D. | Finance |
| Answer» D. Finance | |
| 1094. |
The fusion of two or more separate companies into one is referred to as: |
| A. | Alliance |
| B. | Merger |
| C. | Separation |
| D. | Disintegration |
| Answer» B. Merger | |
| 1095. |
Legislation prohibiting the paying of wages below some specified level is known as |
| A. | Standard Wage |
| B. | Minimum Wage |
| C. | Maximum Wage |
| D. | Optimum Wage |
| Answer» B. Minimum Wage | |
| 1096. |
The market economy in which both private and public enterprises participate in economic activity is called: |
| A. | Mixed Economy |
| B. | Open Economy |
| C. | Closed Economy |
| D. | All of the above |
| Answer» A. Mixed Economy | |
| 1097. |
The theory of macroeconomics which holds that increases in the money supply are a necessary and sufficient condition for inflation, is called |
| A. | Capitalism |
| B. | Socialism |
| C. | Monetarism |
| D. | Communism |
| Answer» C. Monetarism | |
| 1098. |
The functions of sales, distribution, advertising and sales promotion, product planning and market research are termed as: |
| A. | Finance |
| B. | Marketing |
| C. | Business |
| D. | All of the above |
| Answer» B. Marketing | |
| 1099. |
European Recovery Program (ERP) was a United States program of financial assistance that helped to rebuild European nations devastated by World War II. This program is commonly called |
| A. | George Plan |
| B. | Catlett Plan |
| C. | Marshall Plan |
| D. | Colombo Plan |
| Answer» C. Marshall Plan | |
| 1100. |
An early modern European economic theory that trade generates wealth of bullion which a government should encourage by promoting exports and restricting imports is called: |
| A. | Imperialism |
| B. | Colonialism |
| C. | Mercantilism |
| D. | Socialism |
| Answer» C. Mercantilism | |
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