Question # 1

Improved training of employees would.

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Shift aggregate supply to the right

Shift aggregate supply to the left

Shift aggregate demand to the right

Shift aggregate demand to the left

Investment depend mainly on.

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Past levels of income

Future expected profits

Present national income levels

Historic data

A depreciation of currency occur when

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The value of the currency falls

The value of the currency increases

Inflation falls

The balance of payments improves

The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.

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Total Physical product begins to fall

The marginal physical product rises

The marginal physical product falls

The average physical product falls.

The index used most often to measure inflation is the

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Consumer price index

Wholesale price index

Student price index

Producer price index

Occupational immobility of labour occurs if.

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People lack information

People do not want to work

People do not have the right skills to work

People cannot afford to move location

Increase un employment benefits and less incentive to work would.

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Shift aggregate supply to the right

Shift aggregate supply to the left

Shift aggregate demand to the right

Shift aggregate demand to the left

If the economy grows the government's budget position will automatically

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Worsen

Improve

Stay the same

Increase with inflaction

The agricultural price support program is an example of.

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A price celling

A price floor

Equilibrium pricing

None of these

The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the

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Relational expectations hypothesis.

Active expectations hypothesis

Static expectations hypothesis

Adeptive expectations hypothesis

If input price adjusted very slowly to output prices, the Phillip's curve would be.

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Downward sloping

Vertical or nearly vertical

Upward sloping

Horizontal or nearly horizontal

Human wants are

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Always fixed

Limited

Unlimited

Likely to decrease over time

In the short run firm in perfect competition will still produce provided.

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The price covers average variable cost

The price covers variable cost

The price covers average fixed cost

The price covers fixed cost

To adjust GDP from market prices to factor cost.

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Add indirect taxes

Subtract subsidies

Deduct indirect taxes and subsides

Deduct indirect taxes and add subsides

An independent assessment of the impact of firm's activities on society is called a.

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Financial audit

Balance sheet

Profit and uses account

Social audit

World trade has been increasing due to.

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Increased tariffs

Increased legal barriers

Increased embargoes

Reduced protectionism

An increase in investment is most likely to be caused by.

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Lower interest rates

Lower national income

A decreasing the marginal propensity to consume

An increase in with drywalls.

Which does the government not control directly.

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Spending on health

spending on defense

Firm's investment decisions

spending on education

In marketing "USP " Stand for

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Unique selling proposition

Underlying sales pitch

Unit sales point

Under sales procedure

A demand switching policy could be.

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Higher interest rates

Higher income tax

Traiffs

Reduced government spending

Finding a partner to work with abroad is called a.

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Takeover

Merger

Acquisition

Joint venture

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