Question # 1

What is deducted from GNP to find GDP.

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Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

National income does not include:

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Profit

Wages

Interest

Transfer payments

Inflation will be useful for:

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Labourers

Industrialist

Consumers

Pensioners

The other name of law of decreasing return is:

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Law of decreasing cost

Law of increasing cost

Law of constant cost

Law of increasing returns

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

Who wrote The Nature and Significance of Economics"

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Adam simth

Marshall

Robbins

Keynes

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

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Directly

Off and On

Indirectly

Never

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

When national income is increases:

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Standard of living increases

Standard of living decreases

Remains same

Bad thing

The supply of perishable goods is:

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Fixed

Variable

Minor change

Zero

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