QOTW

Here's the first QOTW for December 2013

Select the correct alternative for each question and mail the answers back to me at profKMody@gmail.com by 20 December 2013.

1. A large increase in the number of fast food restaurants is most likely to result in:
a. lower prices and higher quality
b. lower prices and lower quality
c. higher prices and higher quality.

2. A person who starts a business to produce a new product in the market place is known as:
a. a manager
b. a bureaucrat
c. an entrepreneur

3. An increase in interest rates charged by banks  from 5% to 8% would most likely encourage:
a. businesses to invest
b. people to purchase housing
c. people to save money

4. For most people, the largest portion of their personal income comes from:
a. wages and salaries from their obs
b. interest from stocks and bonds they own
c. rent paid to them from property they own

5. If the real gross domestic product of the country has increased, but the production of goods has remained the same, then the production of services has :
a. increased
b. decreased
c. remained the same. 

Rush your answers..................profKMody@gmail.com