| 1 |
Basic object of a firm is to get maximum: |
- A. Price
- B. Profit
- C. Production
- D. All of three
|
| 2 |
------------------- are added in national income |
- A. Depreciation allowance
- B. Subsidies
- C. Indirect taxes
- D. Direct taxes
|
| 3 |
What remains after the deduction of direct tax from the personal income |
- A. NNP
- B. NNI
- C. DPI
- D. GNP
|
| 4 |
A firm gains abnormal profit, when: |
- A. TR = TC
- B. TR > TC
- C. TR < TC
- D. MC = MR
|
| 5 |
Monopoly refers to: |
- A. Single buyer
- B. Single seller
- C. Single producer
- D. Both b and c
|
| 6 |
Under monopoly, the slope of MR curve is: |
- A. Twice the slope of AR curve
- B. Less than the slope of AR curve
- C. Greater than the slope of AR curve
- D. Half the slope of AR curve
|
| 7 |
At shut down position: |
- A. AC = AR
- B. AVC = AR
- C. AVC < AR
- D. AVC > AR
|
| 8 |
What is deducted from the GNP to get GDP |
- A. Depreciation allowances
- B. Net income received from abroad
- C. Indirect tax
- D. Transnfer payments
|
| 9 |
Main elements of circular flow of national income are |
- A. People or house holds
- B. Firms
- C. House holds and firms
- D. Industrial lists
|
| 10 |
"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
|
