Question # 1

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.

Which term means the same distance form something?

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Equilateral

Proportional

Equianglular

Equidistant

Opportunity cast of a factor is known as

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Transfer earning

Money cost

Present earning

None of the above

Who said ''Socialism in lime a hat that has lost its shape because everybody wears it.?

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Laski

Joad

Marx

Gandhi

Who theory advocates only night watchman role of the state?

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Welfare state theory

Liberal Theory

Socialist Theory

Idealist Theory

Reducing inflation is a more important objective than economic growth is an example of:

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Normative economics

Positive economics

Objective economics

Reality economics

For Precise measurements of small weights we use the term'troy' what is its historic origin?

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The word is linked to the idea of ' three and is related to the Russian troika

Unit of Weight current in the medieval town of Troy

Unit of weight current in the medieval town of Troyes in France

It was first used by Heinrich Schliemann tor the fine measurements of weight he had to carry out whe

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

Who made the decision to name a single currency the Euro?

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European Commision

European Council

European Parliament

European Central Bank

What is the full form of the CNN:

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Common News Network

Cable News Network

Cable National Network

Cable natural Network

Less Developed Countries tend to have:

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A high average age

A slow population growth rate

High life expectancy

A low literacy rate

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