A rise in the general level of prices in an economy___________________?

A. Inflation
B. Dearnen
C. Both
D. None

The absence of artificial barriers to trade among individuals and firms in different nations ?

A. Free trade
B. Free economy
C. Trade union
D. None

Employment available resources so that the maximum amount of goods and services is produced?

A. Large scale production
B. Full production
C. Fringe benefits
D. None

Private or public debt owed to foreign citizens firms and institutions ?

A. External debt
B. Internal debt
C. Loan
D. None

Tax levied on production of specific product on quantity of product purchased ?

A. Sales tax
B. Excise tax
C. Income tax
D. All

A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?

A. Indifference curve
B. Lorenz curve
C. Budget line
D. Say’s law

Selling public assets to individuals or private business interests ?

A. Publication
B. Downsizing
C. Privatization
D. All

The investment of private foreign funds in the economy of a developing nation?

A. Private foreign investment
B. Public investment
C. Both a and b
D. None of these

A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?

A. Tradititional economics
B. Development economics
C. Political economics
D. None

______________assumes economic rationality and purely materialistic, individualistic, self interested orientation towards economic decision making?

A. Traditional economy
B. Political economy
C. Capitalistic economy
D. Open economy