Question # 1

What is the meaning of the term "The Great Schism'when referring to an event in the late 14th century?

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A dispute between the King of England and the Pope

A dispute between the king of England and his parliament

A dispute between the followers of two elected popes

A dispute between the kings of Scotland and England

World trade has been increasing due to:

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Increased tariffs

Increased legal barriers

Increased embargoes

Reduced protectionism

Which of the following best expresses the law of demand:

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A high price reduces demand

A lower price reduces demand

A higher prices reduces quantity demanded

A lower prices shifts the demand curve to the right

What is the meaning of term ''oilgopoly''?

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A one-firm Industry.

Many producers of a differentiated.

A few firms producers of a differentiated product.

None of these

What does the term''contingency workforce'' mean?

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Employees who work on whatever tasks are most essential at that moment

Employees who are expected to travel a great deal for their employers

Temporary employees who are hired for only as long as they needed

None of these

Which of the following is not a way of helping developing economies?

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Aid

Loans

Protectionism of developed markets

Training and education programmes

What is an ritenuto?

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A slow increase in tempo

A sudden reduction in tempo

An accented note

A fluctuation tempo that goes goes form slow to fast

What minimum price is acceptable by a firm in the short-period?

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Equal to AC

Equal to AVC

Equal to AFC

Equal to TC

An increase in national income is likely to:

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Decrease tax receipts

Worsen the balance of trade

Automatically cause an increase in government spending

Cause an increase in injections into the economy

What is the full form of the CNN:

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Common News Network

Cable News Network

Cable National Network

Cable natural Network

Marx propounded the theory of class struggle mainly in:

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The Economic and Political Manuscript

The communist Manifesto

Das capital

The Poverty of Philosophy

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