Question # 1

What is full form of the OAU?

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Organization of Asian Unity

Organization of African Unity

Organization of American Unity

Organization of Allied Universities

The value of money varies:

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Inversely with the price level

Directly either the volume of employment

Directly with the price level

Directly with the interest rate

Friedman's theory of consumption focuses on:

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Past income

Current income

Disposable income

Permanent income

What is the main cause of inflation?

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Increases in money supply

Fall in production

Increases in money supply and fall in production

Decreases in money supply and fall in production

Globlization is made more difficult by:

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The actions of the world Trade organization

The removal of protectionist measure

Exchange rate instability

More free trade agreements

UNA stand for:

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Urgent Access Number

Universal Access Number

Universe Access Number

None of above

Land is the only factor of production whose supply is?

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More Elastic

Perfectly Elastic

Perfectly Inelastic

Unitary Elastic

When did the Euro banknotes and coins start to circulated:

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January 1,2002

December 1,2001

July 1, 2002

January 1, 2003

'Closed Economy' is that economy in which:

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Only export takes place

Money supply is fully controlled

Deficit financing takes place

Neither export nor import takes place

To reduce the supply of money the government could:

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Reduce interest rates

Buy back government bonds

Sell government bonds

Encourage banks to lend

The reserves of a commercial bank consist of:

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The amount of money market funds it holds.

Deposits at the Federal Reserve Bank and vault cash

Government bonds which the bank holds

The bank's net worth.

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