Question # 1

If total expenditure decreases with the rise in price elasticity of demand will be

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Equal to unity

Less than unity

Greater than unity

Equal to zero

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

Canons of taxation describes

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Marshall

Keynes

Robbins

Adam Smith

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

In monopoly the number of firms is:

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One

Three

Two

Unlimited

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B Say

What is deducted from GNP to find GDP.

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Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

When national income is increases:

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Standard of living increases

Standard of living decreases

Remains same

Bad thing

Personal income means:

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Own income

Family income

Govt.income

Old income

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

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

The supply of land is:

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Infinity

Fixed

Variable

Zero

Phases of trade cycle are:

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One

Three

Two

Four

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

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