Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test With Answers

image
image
image

Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test

Sr. # Questions Answers Choice
1 How many conditions of firm's equilibrium are there ? One Two Three Four
2 A firm suffers abnormal losse, when: AC = AR AVC = AR AVC < AR AVC > AR
3 A firm gains abnormal profit, when: TR = TC TR > TC TR < TC MC = MR
4 A firm gains normat profit, where: P=AC P>AC P<AC AC>AR
5 Basic object of a firm is to get maximum: Price Profit Production All of three
6 A firm is in equilibrium, where: AR = MR AC = MC AC = MR MC = MR
7 Equilibrium of national income is, when S > 1 S = 1 S < 1 S and 1
8 After deducting direct tax from personal income, it is called National income personal income Disposable personal income per capital income
9 One is not included in measuring National income Wage of labour services of house lady Agricultural production Industrial production
10
According to whom economist, National income is the name of the total of production of goods and services
 Adam smith Marshall Fisher Pigou
11 Expenses of wears and tears of machinery are called Productive expenses Non productive expenses Wages Depreciation expenses
12 What is deducted from the GNP to get GDP Depreciation allowances Net income received from abroad Indirect tax Transnfer payments
13 What remains after the deduction of direct tax from the personal income NNP NNI DPI GNP
14 Which is subtracted from gross national product to find gross domestic product Depreciation allowance Net income received from foreign sources Indirect taxes Transfer payments
15 Because of increase in national income Standard of living rises Standard of living falls No change occurs None of three
Download This Set
×