Question # 1

An Australian superstition concerning the number 87 by association 187,287 etc:

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The English number

Napoleon

Nelson

The Devil's number

In the world population-wise Pakistan is

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3rd

4th

6th

8th

A shift in aggregate supply is likely to:

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Reduce the general price level and reduce and national income

Reduce the general price and level and increase national income

Increase the general price level and reduces national income

Increase the general price level and increase the national income

What is meant by the term meritocracy:

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People achieving via merit

People achieving via accident of birth

People achieving because of who they know

None of these

What is inflation?

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Reduces the cost of living

Reduces the standard of living

Reduces the price of Products

Reduces the purchasing power of a pound

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

What is the main characteristic of a capialist of free market economy:

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Individuals are the owners factors of Production

Profit is the min motives of carrying out various activities

Consumer freedom

All of above

UNA stand for:

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Urgent Access Number

Universal Access Number

Universe Access Number

None of above

The process of budget making after re-evaluating every item expenditure in every financial year is known as:

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Performance Budgeting:

Deficit Budgeting

Zero Based Budgeting

Fresh Budgeting

A monopolisitically competitive firm in short run equilibrium:

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Will make negative profit (loss money)

Will make zero profit (break-even)

Will make positive profit

Any of the given are possible

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

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Oligarchy

Tyranny

Aristocracy

Democracy

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