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Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test MCQs With Answers
Question # 1
If we multiply margina product with price we get:
Choose an answer
MFC
MRP
TVC
Both a and b
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Question # 2
Kinds of credit money are
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Verbal promise and written promise
Govt. securities & debentures
Cheque & Drafts
Share of Companies
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Question # 3
There exists a relationship between inflation and deflation
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Increasing
Inverse
Indirect
None of three
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Question # 4
During inflation prices are
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Zero
Low
Increase
Constant
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Question # 5
One of the following is not the assumption of quantity theory of money
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Velocity of circulation of legal money should not change
Velocity of Circulation of credit money should not change
Quantity of hoardings should not change
Quantity of goods and services should go on changing
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Question # 6
Inflation will be useful for
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Labourers
Consumers
Penioners
Industrialist
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Question # 7
The best definition of money is stated by
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Marhsall
Crowther
Keynes
Walker
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Question # 8
Inconvertible paper money is issued by
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Central bank
Commercial bank
Industrial bank
Central government
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Question # 9
Unit of account money in Pakistan is
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Rial
Rupee
Dollar
Pound
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Question # 10
Basic characteristics of good money are
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General acceptability, durability
Homogeneity,divisibility
Transferability, recognizability, convertibility
All
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Question # 11
Inflation is useful for
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Labourer
Consumers
Industrialist
Pensioners
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Question # 12
Inflation is created
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When demand for goods is less than their supply
When demand for goods is more than their supply
When demand for goods becomes equal to their supply
When demand and supply of goods do not change
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Question # 13
Production of an additional unit of factor refers to:
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AP
TP
MP
MR
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Question # 14
The coins whose current price is greater than their intrinsic value, are called
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Standard coins
Paper money
Token money
Credit money
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Question # 15
One of the following is not the method to control deflation
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Decrease in public expenditures
Decrease in interest rate
Decrease in income tax
increase in exports
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Question # 16
One rupee note in paper money is
Choose an answer
Inconvertible paper money
Convertible paper money
Limited legal tender money
Unlimited legal tender money
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