Question # 1

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

National income does not include:

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Profit

Wages

Interest

Transfer payments

Consumer goods are those goods which are used by a man:

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Directly

Off and On

Indirectly

Never

What remains after deduction of direct taxes from the personal incom:

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NNI

DPI

NDI

GNP

In monopoly the number of firms is:

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One

Three

Two

Unlimited

According to law of increasing return marginal product:

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Increases

Decreases

Remains constant

None of these

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

When price falls supply:

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Expands

Remains zero

Contrasts

Become fixed

The elasticity of demand of durable good is:

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More than unity

Equal to unity

Less than unity

Zero

Canons of taxation describes

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Marshall

Keynes

Robbins

Adam Smith

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NAT I Commerce Economics MCQs With Answers

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