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2791EconomicsMedium

Government based on the rule of either the landed gentry the educated and privileged or the hereditary nobility is called________?

Aaristocracy

Brepublicanism

Coligarchy

Ddemocracy

Correct answer

A. aristocracy

Explanation

The correct answer is aristocracy.

2792EconomicsMedium

With whom would you associate the following quote” The business of business is business”?

AAlfred Marshal

BMilton Friedman

CAdam smith

DKarl Marx

Correct answer

B. Milton Friedman

Explanation

The correct answer is Milton Friedman.

2793EconomicsMedium

A monetary union means , and ?

Aa common currency a single central bank, common monetary policy

Bpermanently fixed exchange rates, free capital movements, a single interest rates

Cpermanently fixed capital movements floating exchange rates a fixed structure of interest rates

Da common currency floating exchange rates common monetary policy

Correct answer

B. permanently fixed exchange rates, free capital movements, a single interest rates

Explanation

The correct answer is permanently fixed exchange rates, free capital movements, a single interest rates.

2794EconomicsMedium

A market is defined as perfectly contestable if?

Aentry to it is costly, but exit from it is costless

Bentry to it and exit from it are both costless

Centry to it and exit from it are both costly

Dentry to it costless, but exit from it is costless

Correct answer

B. entry to it and exit from it are both costless

Explanation

The correct answer is entry to it and exit from it are both costless.

2795EconomicsMedium

If Pakistan’s GDP exceeds Pakistan’s GNP, then?

Aforeigners are producing more in the Pakistan then Pakistanis are producing in foreign countries

Breal GDP exceeds nominal GDP

Creal GNP exceeds nominal GNP

Dintermediate production exceeds final production

Correct answer

A. foreigners are producing more in the Pakistan then Pakistanis are producing in foreign countries

Explanation

The correct answer is foreigners are producing more in the Pakistan then Pakistanis are producing in foreign countries.

2796EconomicsMedium

If the price elasticity of demand is unit then a fall in price?

ALeaves revenue unchanged

BReduces costs

CIncrease revenue

DReduces revenue

Correct answer

A. Leaves revenue unchanged

Explanation

The correct answer is Leaves revenue unchanged.

2797EconomicsMedium

________ is a philosophy holding that a company’s marketing should support the best long-run performance of the marketing system?

AConceptual marketing

BMyopic marketing

CEnlightened marketing

DFundamental marketing

Correct answer

C. Enlightened marketing

Explanation

The correct answer is Enlightened marketing.

2798EconomicsMedium

Which of the following countries is known as sugar bowl?

AUSA

BChina

CArgentina

DCuba

Correct answer

D. Cuba

Explanation

The correct answer is Cuba.

2799EconomicsMedium

In a recession a government?

AIs likely to want to increase supply in the economy

BIs likely to want to stabilise demand in the economy

CIs likely to want to decrease demand in the economy

Correct answer

A. Is likely to want to increase supply in the economy

Explanation

The correct answer is Is likely to want to increase supply in the economy.

2800EconomicsMedium

A public good will?

ANot be provided in the free market

BHas no opportunity cost

CBe over provided in the free market

DBe under provided in the free market

Correct answer

A. Not be provided in the free market

Explanation

The correct answer is Not be provided in the free market.

A monetary union means ________, ________ and ________?

Aa common currency a single central bank, common monetary policy

Bpermanently fixed exchange rates, free capital movements, a single interest rates

Cpermanently fixed capital movements floating exchange rates a fixed structure of interest rates

Da common currency floating exchange rates common monetary policy

Correct answer

B. permanently fixed exchange rates, free capital movements, a single interest rates

Explanation

The correct answer is permanently fixed exchange rates, free capital movements, a single interest rates.

A market is defined as perfectly contestable if?

Aentry to it is costly, but exit from it is costless

Bentry to it and exit from it are both costless

Centry to it and exit from it are both costly

Dentry to it costless, but exit from it is costless

Correct answer

B. entry to it and exit from it are both costless

Explanation

The correct answer is entry to it and exit from it are both costless.

If Pakistan’s GDP exceeds Pakistan’s GNP, then?

Aforeigners are producing more in the Pakistan then Pakistanis are producing in foreign countries

Breal GDP exceeds nominal GDP

Creal GNP exceeds nominal GNP

Dintermediate production exceeds final production

Correct answer

A. foreigners are producing more in the Pakistan then Pakistanis are producing in foreign countries

Explanation

The correct answer is foreigners are producing more in the Pakistan then Pakistanis are producing in foreign countries.

In a recession a government?

AIs likely to want to increase supply in the economy

BIs likely to want to stabilise demand in the economy

CIs likely to want to decrease demand in the economy

Correct answer

A. Is likely to want to increase supply in the economy

Explanation

The correct answer is Is likely to want to increase supply in the economy.