11th class Principles of Economics chapter 11 online mcq test with answers for I.Com part 1 Principles of Economics chapter 11(Business Cycle)

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

Sr. #	Questions	Answers Choice
1	If we deduct foreign income from GNP, we get:	N.N.P G.D.P D.P.I P.I
2	National income at factor cost is equal to:	G.N.P - Subsidies + taxes N.N.P - Direct tax + Subsidies G.D.P - Subsidies + taxes N.N.P - Indirect tax + Subsidies
3	National Income is also known as:	National product Total expenditure Total population Both a and b
4	During depression, increases	Unemployment Employment Profit Production
5	The innovation theory of trade cycles was presented by	Hayek Hawtray Schumpeter Pigou
6	According to Prof. Jugglar a trade cycle comletes in	Five to six years Nine to ten years Ten to eleven years Eleven to twelve years
7	According to Prof. Kitchen a trade cycle completes in	Two years six months Three years or Fifty years Fifty years or Sixty years Sixty years or Seventy years
8	During the phase of recovery prices, wages, interest rate and profits	Start falling gradually Start rising gradually are highest are lowest
9	During the phase of boom level of income and employment is	Increasing Decreasing Highest Lowest
10	During the phase of recession prices of goods	Start rising Start falling are highest are lowest
11	Which phase starts with the increase in expected rate of profit	Depression Recovery Boom Recession
12	During recession demand for factors of production is	More Limited Very low Too much
13	Economy gets prosperity during	Recession Depression Boom Recovery
14	During depression	Employment increases Prices decrease Profit increases Prices increase
15	During boom	Business contracts Unemployment increase Profit decreases Profit increases

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