Question # 1

When price falls supply:

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Expands

Remains zero

Contrasts

Become fixed

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 period is

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One year

Three years

Two years

Four years

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

According to law of increasing return marginal product:

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Increases

Decreases

Remains constant

None of these

International trade has the benefits

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One

Three

Two

Unlimited

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

Reward for labour is:

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Interest

Wages

Profit

Rent

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

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

The elasticity of demand of durable good is:

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More than unity

Equal to unity

Less than unity

Zero

The economy gets maximum prosperity during:

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Recession

Recovery

Boom

Depression

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

Reward for capital is called:

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Rent

Interest

Wages

Profit

The supply of perishable goods is:

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Fixed

Variable

Minor change

Zero

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

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