Question # 1

The supply of perishable goods is:

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Fixed

Variable

Minor change

Zero

In inflation prices:

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Increase

Do not change

Decrease

Become zero

National income does not include:

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Profit

Wages

Interest

Transfer payments

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

Income elasticity show the relationship between:

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Income and demand

Income and consumption

Income and price

Income and saving

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

Inflation will be useful for:

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Labourers

Industrialist

Consumers

Pensioners

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

National income period is

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One year

Three years

Two years

Four years

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

The elasticity of demand of durable good is:

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More than unity

Equal to unity

Less than unity

Zero

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