Question # 1

"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

Transfer payment means:

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Rent transfer

Wages transfer

Reward without services

Profit transfer

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

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 Macro economies the vital role is played by:

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Marshall

J.R.Hicks

Robbins

Keynes

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

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NNP

GDP

DPI

PI

During depression, increases

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Unemployment

Employment

Profit

Production

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

Which phase starts with the increase in expected rate of profit

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Depression

Recovery

Boom

Recession

National Income is also known as:

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National product

Total expenditure

Total population

Both a and b

Depreciation means:

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Wear and Tear

Reduction in value

Decrease in value

All of these

Economy gets prosperity during

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Recession

Depression

Boom

Recovery

Modern theory of trade cycles is presented by

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Prof Schumpeter

Prof Keynes

Prof Hawtrey

Prof Hicks and Samuelson

Innovation theory is presented by

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Prof Kegnes

Prof Schumpeter

Prof Hicks

Prof Foster

Net foreign income means:

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Import - Exports

Exports - Imports

Import + Exports

Income from imports

The innovation theory of trade cycles was presented by

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Hayek

Hawtray

Schumpeter

Pigou

Under consumption or over saving theory is presented by

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Prof Hobson, Foster and Catchings

Prof Hawtrey

Prof Keynes

Prof Jevons

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

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