Terminology Online Test With Answers

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Terminology Online Test

Sr. # Questions Answers Choice
1 When you consume more and more of a commodity continuously, your total satisfaction level will?
 Decrease <br> Fluctuate <br> Remain<br> Increase <br>
2 Under normal circumstances, when the price of a commodity falls. the quantity demanded will:
 Decrease <br> Increase <br> Remain unchanged <br> Nobody knows <br>
3 Where is the European central bank Located:
 Luxembourg <br> Basel <br> Frankfurt <br> London <br>
4 When did the Euro banknotes and coins start to circulated:
 January 1,2002<br> December 1,2001<br> July 1, 2002<br> January 1, 2003<br>
5 Adam Smith's The Wealth of nations was published in:
 1772 <br> 1773 1774 1776
6 Which is not the characteristic of socialist or planned economy?
 Government is the owner of resources <br> Production decisions are determined by the government<br> Profit motive<br> None of the above <br>
7 The value of money varies:
 Inversely with the price level <br> Directly either the volume of employment<br> Directly with the price level <br> Directly with the interest rate<br>
8 Globalization is likely to increase with:
 More protectionism <br> An increase in tariffs <br> More trade within countries <br> Greater trade flows between countries<br>
9 Over time the price of primary products tends to fall because:
 Demand is income elastic <br> Supply is income elastic <br> Of outward shifts is supply <br> Demand is price elastic <br>
10 When was the world Federation of Trade Union founded?
 1949 1945 1946 1942
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