Question # 1

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

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

Net foreign income means:

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Import - Exports

Exports - Imports

Import + Exports

Income from imports

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

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

In which phase of a trade cycle level of employment and income become very low

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Depression

Recovery

Boom

Recession

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

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

Psychological theory of trade cycles is presented by

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Prof Jevons

Prof Pigou and Bagehot

Prof Keynes

Prof Hawtrey

If we deduct foreign income from GNP, we get:

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N.N.P

G.D.P

D.P.I

P.I

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

"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

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

Monetary theory of Trade cycle is presented by

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Prof Hawtrey and Friedman

Prof Keynes

Prof Hobson

Prof Kitchen

National Income is also known as:

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National product

Total expenditure

Total population

Both a and b

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

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