Question # 1

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

National Income is also known as:

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National product

Total expenditure

Total population

Both a and b

"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

"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

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

Under consumption or over saving theory is presented by

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Prof Hobson, Foster and Catchings

Prof Hawtrey

Prof Keynes

Prof Jevons

During depression, increases

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Unemployment

Employment

Profit

Production

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

The innovation theory of trade cycles was presented by

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Hayek

Hawtray

Schumpeter

Pigou

Depreciation means:

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Wear and Tear

Reduction in value

Decrease in value

All of these

During the phase of boom level of income and employment is

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Increasing

Decreasing

Highest

Lowest

Which phase starts with the increase in expected rate of profit

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Depression

Recovery

Boom

Recession

National income is measured for:

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One year

Two years

Three years

Four years

If we deduct direct taxes from personal income, we get:

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NNP

GDP

DPI

PI

According to Prof. Kitchen a trade cycle completes in

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Two years six months

Three years or Fifty years

Fifty years or Sixty years

Sixty years or Seventy years

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

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