NAT I Commerce Economics With Answers

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NAT I Commerce Economics

Sr. # Questions Answers Choice
1 The shape of AR and MR under perfect competition is: Vertical U-shape Horizontal to ox-axis None of these
2 The supply of land is: Infinity Fixed Variable Zero
3 Income elasticity show the relationship between: Income and demand Income and consumption Income and price Income and saving
4 If total expenditure decreases with the rise in price elasticity of demand will be Equal to unity Less than unity Greater than unity Equal to zero
5 Who described Economics as a scienece of wealth: Piguo Adam Smith Robbins Marshall
6 Ushr implies on: Agricultural product Industrial product Agricultural & industrial product None of these
7 The economy gets maximum prosperity during: Recession Recovery Boom Depression
8 International trade has the benefits: One Unlimited Two Three
9 Who presented the quantity theory of money: Marshall Robbins Taussig Keynes
10 National income does not include: Profit Wages Interest Transfer payments
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