1. Economists describe we are living in a world where resources and wants are limited. (True / False) 2. Consumers and firms use all available information to weigh the benefits and costs of each action to achieve their goals. (True / False) 3. Unemployment is an unavoidable problem in the economy including in Malaysia due the existance of frictional and structural unemployment problem. (True / False) 4. When government controls inflation, it means government focuses to reduce the price level in the economy through the operation of macroeconomic policies. (True / False) 5. Life expectancy refers to the average number of years to be lived by a group of people. Therefore, the higher the life expectancy, the greater the potential return on investment in human capital. (True / False) 6. The immigration policy introduced by the British administration had led to the development of societal pluralism in Malaysia. (True / False) 7. One of the areas under the Economic Transformation Programme, implemented by Malaysian government is to assure the quality education in place for all Malaysian students. (True / False) 8. In the New Economic Model (NEM), one of the goals Malaysian government to achieve is the environmental and fiscal sustainablety. (True / False)9. Which of the following is the focus of National Commodity Policy (2011-2020)? I. The role of smallholders and entrepreneurs II. Commodity market competitiveness III. The development of agro-based industry IV. Development of human capitals in commodity indutries A. I, II & III B. I, III & IV C. I, II, III & IV D. None of the above 10. Which of the following is NOT a measure of solving the Malaysian agriculture sector problem? I. One referral centre for farmers II. Promote industrial linkage III. Promote the role of private enterprise IV. Focus on the development of agro-based industries A. I & II B. II & III C. III & IV D. I & IV 11. Which of the following is NOT an importance of Malaysia algriculture sector? I. Vulnerable farmers' income II. A source of food supply to society. III. Demand competition between agriculture land and commercial land IV. Creating job and business opportunities in areas related to bio-technology A. I & II B. I & III C. II & III D. II & IV 12. Which of the following is the main manufactured goods in Malaysian economy? I. petroleum products II. rubber-based products III. electrical and electronic products IV. chemical-based productsA. I & IV B. I, II & III C. I, III & IV D. All of the above 13. The following are issues for Malaysian Small Medium Enterprises (SMEs) development EXCEPT I. Aging entrepreneurs II. Limited economies of scale III. Traditional mentality of entrepreneurs IV. Small pool of local skilled and technical workers A. I B. I & II C. I, III & IV D. All of the above 14. The following represent the impacts of development of high speed broad band (HSBB) to Malaysian EXCEPT I. Virtual classroom II. E-commerce III. Virtual game IV. Social media A. I, & II B. II & III C. III & IV D. None of the above 15. Which of the following examples represent factors that influence Malaysian tourism industry growth? I. Rivers, lakes, waterfalls, beaches etc. II. Transportation system into and within the country III. Local people friendliness and helpfulness IV. Hotel supply, food variety, health care etc. A. II & III B. II, III & IV C. I, II & III D. I, II, III & IV