Question # 1

Increase in fixed asset due to purchase is

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Source of fund

Fund from operation

Use of fund

None of the above

If the economy grows the government's budget position will automatically:

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Worsen

Improve

Stay the same

Increase with inflation

The basic different between the ''short run''and the ''long run'' is that:

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All cost are fixed in the short run, but all costs are variable i8n the long run

The law of diminishing returns applies in the long run, but not in the short run.

At least one resource is fixed in the short run while all resources are variable in the long run

Economies of scale may be present in the short run, but not in the long run.

In comparison to revenue deficit; the size of fiscal deficit is always

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Higher

Smaller

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Uncertain

The Phrase ''citizen diplomacy'' was first coined by:

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Edmund Gullion

James Cable

Mr.Joseph Montville

David Hoffman

Adam Smith's The Wealth of nations was published in:

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1772

1773

1774

1776

Where could you most likely have seen the letters TWA?

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Army base

Church

Airport

Gift store

A form of government in which minority rules outside the law is:

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Oligarchy

Tyranny

Aristocracy

Democracy

What theory explains why deflation may actually leads to an increase in GDP?

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Solow Effect

rational Expectations

Pigou effect

Adaptive Expectations

GNP is always

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Less than NN

Greater than NNP

Equal to NNp

Any of A,b,c

Share premium account can be used for-

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Paying tax liability

Meeting the cost of issue of shares or debentures

Paying Dividend on shares

Meeting the loss on sale of old asset

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