Question # 1

Market value of all final goods and services is known as:

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N.I

G.N.P

N.N.P

Both a and b

Economy gets prosperity during

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Recession

Depression

Boom

Recovery

Methods for measurement of national income are:

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Two

Three

Four

Five

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

"A trade cycle is completed in three years four months" This is stated by

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Prof Kitchen

Prof Jugglar

Prof Jevons

Prof Pigou

If we deduct foreign income from GNP, we get:

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N.N.P

G.D.P

D.P.I

P.I

During the phase of recovery prices, wages, interest rate and profits

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Start falling gradually

Start rising gradually

are highest

are lowest

If we deduct depreciation from GNP, we get:

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P.I

G.D.P

D.P.I

N.N.P

During the phase of boom level of income and employment is

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Increasing

Decreasing

Highest

Lowest

Under consumption or over saving theory is presented by

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Prof Hobson, Foster and Catchings

Prof Hawtrey

Prof Keynes

Prof Jevons

Theory of sun-spot was presented by

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Prof Jevons and Henry L, Moor

Prof Pigou and begehot

Prof Hobson

Prof Cassel

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

Psychological theory of trade cycles is presented by

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Prof Jevons

Prof Pigou and Bagehot

Prof Keynes

Prof Hawtrey

In which phase of a trade cycle national product, wages, prices and profits reach at their peak

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Recovery

Boom

Recession

Depression

"A trade cycle is fluctuation in employment, production and prices" This definition of Trade cycle is stated by

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Prof Keynes

Prof Mitchall

Prof Hanson

Prof Haberler

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Principles of Economics Icom Part 1 English Medium Chapter 11 Online Test MCQs With Answers

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