| 1 |
A firm gains abnormal profit, when: |
- A. TR = TC
- B. TR > TC
- C. TR < TC
- D. MC = MR
|
| 2 |
One of the following is not included in net national product |
- A. Consumer goods
- B. Capital goods
- C. Capital formation
- D. Consumer goods and capital goods
|
| 3 |
In the long run firms mostly earn normal profit in: |
- A. Perfect competition
- B. Oliogopoly
- C. Monopoly
- D. Duopoly
|
| 4 |
------------------- are added in national income |
- A. Depreciation allowance
- B. Subsidies
- C. Indirect taxes
- D. Direct taxes
|
| 5 |
Method of measuring national income |
- A. National income=Gross national product - depreciation allowance
- B. National income= Net national product - Indirect costs
- C. National income= Net national product + subsidies
- D. National income= Net national product - indirect taxes + subsidies
|
| 6 |
Basic object of a firm is to get maximum: |
- A. Price
- B. Profit
- C. Production
- D. All of three
|
| 7 |
------------ is not included in gross domestic product |
- A. Private investment
- B. Income received from foreign country
- C. Depreciation allowance
- D. Govt. investment
|
| 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 |
If MC=MR=AR=AC=P, then a firms gains: |
- A. Super profit
- B. Normal profit
- C. Normal loss
- D. Abnormal loss
|
| 10 |
Monopoly refers to: |
- A. Single buyer
- B. Single seller
- C. Single producer
- D. Both b and c
|
