1.The cost of production of a firm increases from $40000 to $45000. Thepercentage increasein the cost of production is

A.12.5%

B.21.5%

C.15.2%

D.5.12%

2.The demand curve for a product willnot shiftin any directionas a result of a change in:

A.The price of the product

B.Fashion and customs

C.Consumer incomes

D.Consumer tastes

3.The money payments made to owners ofentrepreneurial ability, capital, land and labourin thecorrect orderare

A.Rent, wages, interest and profits respectively

B.Profits, interest, rent and wages respectively

C.Rent, wages, dividends and interest respectively

D.Interest, wages, rent and profits respectively

4.Exchange of goods and serviceswithout the use of moneyisknownas

A.Advanced monetary system

B.Black market

C.Barter system

D.Prime market

5.If Rise = 9 and Run = -3, then theslopewill be equal to

A. 3

B. -3

C. 6

D. -12

6.Land includes thesolid portionof earth only.

A.True

B.False

7.Fixing themaximum amount of house rentby the government is anexampleof

A.Floor price

B.Price ceiling

C.Tenant exploitation

D.Public subsidy

8.Which of the following can becategorised as positive externality?

A.High concentration of greenhouse gases in the atmosphere

B.Low appreciation of housing property due to air and waterpollution caused by industrial smokeand toxic elements

C.The effect of skilled and trained workers on the productivity of an industry

D.A higher number of motorists driving in congested traffic

9.Tim and Peterwent to buy a shirt fromOld Navy store. Theprice tag($25 plus HST)attachedto the shirt is an example of money functioning as a

A.Transferability

B.Medium of exchange

C.Unit of account

D.Store of value