Economics MCQs 28

One to whom an amount of money is due is called:
(a) Creditor-✔️
(b) Debtor
(c) Both of the above
(d) None of the above

Which of the following is referred to as international currency because it is regarded as acceptable for the settlement of international debts?
(a) Yen
(b) Dollar-✔️
(c) Rupee
(d) Dinar

The bank account on which deposits do not earn interest, but can be with drawn by cheque at any time is called:
(a) Demand Account
(b) Current Account-✔️
(c) Fixed Account
(d) Profit and Loss Account

Prices unadjusted for changes in the purchasing power of money are called:
(a) HistoricPrices
(b) Current Prices-✔️
(c) Market Prices
(d) None of theabove

The practice of searching for correlation in data with the purpose of generating theoretical hypotheses is called
(a) Data Collection
(b) Data Communication
(c) Data Mining-✔️
(d) Data Compression.

A cartel is an organization formed by producers. Its objectives are:
(a) To allocate market shares
(b) To control production
(c) To regulate prices
(d) All of the above-✔️

A loss in social welfare deriving from a policy or action that has no corresponding gain is called:
(a) Dead weight Waste
(b) Dead weight Loss-✔️
(c) Both of the above
(d) None of the above

The number of deaths occurring in any year for every 1000 of the population is referred to as
(a) Death Ratio
(b) Death Rate-✔️
(c) Both of the above
(d) None of theabove

A sum of money or other property owed by one person or organization to another is called
(a) Credit
(b) Debt-✔️
(c) Obligation
(d) All of the above

One who owes money to another is known as
(a) Creditor
(b) Debtor-✔️
(c) Both of the above
(d) None of the above