Question # 1

The period in which an economy comes back from prosperity to depression is called

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Recovery

Recession

Boom

Depression

During the phase of boom level of income and employment is

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Increasing

Decreasing

Highest

Lowest

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

According to Prof. Jugglar a trade cycle comletes in

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Five to six years

Nine to ten years

Ten to eleven years

Eleven to twelve years

Monetary theory of Trade cycle is presented by

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Prof Hawtrey and Friedman

Prof Keynes

Prof Hobson

Prof Kitchen

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

Methods for measurement of national income are:

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Two

Three

Four

Five

In which phase of a trade cycle production, employment, wages and rate of interest etc start rising gradually

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Boom

Depression

Recovery

Recession

The income which a person can use according to his will called:

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Net income

Per capital income

Personal income

Disposable personal income

During the phase of recession prices of goods

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Start rising

Start falling

are highest

are lowest

Innovation theory is presented by

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Prof Kegnes

Prof Schumpeter

Prof Hicks

Prof Foster

National income is measured for:

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One year

Two years

Three years

Four years

"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

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

Under consumption or over saving theory is presented by

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Prof Hobson, Foster and Catchings

Prof Hawtrey

Prof Keynes

Prof Jevons

If we deduct foreign income from GNP, we get:

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N.N.P

G.D.P

D.P.I

P.I

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

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NNP

GDP

DPI

PI

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

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