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Terminology Online Test MCQs With Answers
Question # 1
The abbreviation NASA stands for which of the following:
Choose an answer
National Association safely Association
National Aeronautics and Space
National Aeronautics and Space Admi9nsitraion
North American Space Administration
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Question # 2
The measure of the degree of association between the values of two random variables is called?
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Correlation
Association
Regression
Co-variance
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Question # 3
Who defined "Economics is the Science of Wealth"?
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J.K Mehta
Marshall
Adam Smith
Robbins
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Question # 4
If the economy grows the government's budget position will automatically:
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Worsen
Improve
Stay the same
Increase with inflation
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Question # 5
Contribution of agriculture in Pakistan's national income is
Choose an answer
20%
24%
28%
26%
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Question # 6
Which term refers to an awareness to the relationship between the individual and his or her wider society?
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Sociology
Sociological imagination
Social justice
Social interpretation
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Question # 7
Fire Insurance is based on the principle of-
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Utmost Good faith
Insurable interest
Indemnity
Cooperation
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Question # 8
Friedman's theory of consumption focuses on:
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Past income
Current income
Disposable income
Permanent income
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Question # 9
The allocation of scarce resources and nearly all other economic activity stams form ritual habit or custom:
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Mixed economy
Capitalism
Traditional economy
communism
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Question # 10
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
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Question # 11
What is necessary to control cost push inflation?
Choose an answer
To impose control on wages of labour
To remove market imperfections
Both of the above
None of the above
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