Question # 1

When internal economics of scale occur:

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Total costs fall

Marginal costs increase

Average costs fall

Revenue falls

Which of the following is an active factor of production?

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Land

Labour

Capital

Organization

When surplus occurs?

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The price of the good decreases

The quantity demanded is greater than the quantity supplied

The quantity supplied is greater than the quantity demanded

The quantity demanded is equal to the quantity supplied

What is the Essence of Control?

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To take decision

To take corrective action

To make enquiry

To motivate

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

The concept of costing margin in the pricing theory was introduced by?

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Andrews

Baumol

Cournot

Williamson

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

Total revenues neither increase nor decrease When price changes?

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unit elastic

Marginal utility

diminishing marginal utility

Traditional economy

What theory explains why deflation may actually lead to an increase in GDP?

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Solow effect

Rational expectations

Pigou effect

Adaptive expectations

Who among the following is the exponent of Game theory?

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Martin Shubik

Kari Deutsch

Palamer and parkins

joseph Frankel

The Keynesian theory of employment provides the solution of?

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Frictional unemployment

Disguised unemployment

Cyclical unemployment

Seasonal unemployment

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