1. A monopoly can earn positive profits in the long run, _________.
b)if there are barriers to entry
c)if it charges high price
d)if there are no supplements
e)None of these
2.The concept of excess capacity can be found in _________.
a)Perfect Competition
b)Monopoly
c)Monopolistic Competition
d)All of the above
e)None of the above
3.The term autonomous investment is based on the assumption that _________
a)investment is not influenced by savings
b)investment is not influenced by GDP
c)investment is influenced by consumption
d)investment is not influenced by consumption
e)None of these
4.Fiat Money is accepted _________
a)in convention
b)in law
c)in payment for the purchase
d)All of the above
e)None of these
5.A rise in the market price of an asset producing a given income stream is equivalent to
a) an increase in the rate of interest
b)a decrease in the rate of interest
c)the bond's future value
d)the bond's present value
e)None of these
6.The type of unemployment which results from normal turnover of labor is called:
a)frictional unemployment
b)seasonal unemployment
c)structural unemployment
d)disguised unemployment
e)None of these
7.In the short run, a demand shock inflation tends to be accompanied by _______
a) an increase in GDP
b)a decrease in GDP
c)an increase in unemployment
d)a decrease in employment
e)None of these
8.Structural change does not include:
a)change in technology
b)invention of new product
c)change in labor price
d)installation of machinery
e)None of these
9.Market indices are expressed in
a)absolute terms
b)relative terms
c)Both (a) and (b)
d)Neither (a) nor (b)
e)None of these
10. If a manufacturer finds that some distributional outlets are not taking any promotional programs, they should
a)compel them to provide extra push for a product
b)offer them incentives to do so
c)offer incentives to outlets sales personnel
d)All of the above
e)None of these.
1.(d)
2.(b)
3.(c)
4.(d)
5.(c)
6.(d)
7.(a)
8.(e)
9.(b)
10.(b)
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