| 1 |
Because of increase in national income |
- A. Standard of living rises
- B. Standard of living falls
- C. No change occurs
- D. None of three
|
| 2 |
A firm is in equilibrium, where: |
- A. AR = MR
- B. AC = MC
- C. AC = MR
- D. MC = MR
|
| 3 |
At shut down position: |
- A. AC = AR
- B. AVC = AR
- C. AVC < AR
- D. AVC > AR
|
| 4 |
Transfer payments are included in the income |
- A. National income
- B. Gross domestic product
- C. Personal income
- D. Disposable personal income
|
| 5 |
Disposable personal income means |
- A. Total of incomes
- B. Income of an industry after fulfilling all the needs
- C. After paying personal taxes, income of the people who provide factors of production
- D. Save income of a person after the payment of the taxes
|
| 6 |
Under monopoly the price is always equal to: |
|
| 7 |
What remains after the deduction of direct tax from the personal income |
- A. NNP
- B. NNI
- C. DPI
- D. GNP
|
| 8 |
Individuals of a country produce a certain quantity of goods and services using the resources of the country with the help of their capital, it is called national income this definition is presented by |
- A. Professor Marshall
- B. Professor Paul A Samuelson
- C. Professor Fisher
- D. Professor Pigou
|
| 9 |
"Quantity of goods and services which is consumed during a year is called national income". This definition of national income is stated by the economist |
- A. Marshall
- B. Pigou
- C. Adam smith
- D. Fisher
|
| 10 |
Equilibrium of national income is, when |
- A. S > 1
- B. S = 1
- C. S < 1
- D. S and 1
|
