Question # 1

Marshall's representative firm is a long-run average firm while optimum firm is a:

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Maximum cost firm

Minimum cost firm

Marginal cost firm

Average cost firm

Which of the following is a global organization?

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IMF

World Bank

WTO

All of these

Who is known as father of economics?

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David Riccardo

Thomas Malthus

jean Colbert

Adam smith

What is termed to order an accused person to be kept in custody or placed on ball pending further court appearance?

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Remand

Custody

Arrest

Prosecuting

What does pizzicato mean literally?

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Pinched

forced

pushed

happy

Products that increase the usefulness or value fo other products?

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substitutes

complements

income effects

Goods

Where might you purchase an SUV?

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flower garden

Department store

car dealership

farmers market

Developing economies usually:

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Have large industrialized sectors

Are dependent on primary products

Have high levels of wealth

Earn more form exports than is spent on imports

Depletion method of depreciation is used in case of:

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Cattle, Loose Tools, etc

Mines, Quarries, etc

Machinery, Building, etc

Books

What does FPCT stand for?

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fielding percentage

fielding Put outs

fielding pick offs

fielding errors

When did World Trade Organization replace GATT?

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1 January 1995

1 January 1998

1 December 1999

1 June 2000

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