Question # 1

Reward for capital is called:

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Rent

Interest

Wages

Profit

The other name of law of diminishing return is:

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Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

Canons of taxation describes

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Marshall

Keynes

Robbins

Adam Smith

The quality of a commodity which satisfies the human wants:

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Usefulness

Loss

Utility

Return

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

In monopoly the number of firms is:

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One

Three

Two

Unlimited

Phases of trade cycle are:

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One

Three

Two

Four

During a year aggregate value of produced goods and services of a country is called:

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Per-capita income

Net national income

Personal income

Gross national product

The economy gets maximum prosperity during:

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Recession

Recovery

Boom

Depression

Income elasticity show the relationship between:

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Income and demand

Income and consumption

Income and price

Income and saving

According to law of increasing return marginal product:

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Increases

Decreases

Remains constant

None of these

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