Question # 1

According to law of increasing return marginal product:

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Increases

Decreases

Remains constant

None of these

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

National income period is

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One year

Three years

Two years

Four years

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

Reward for capital is called:

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Rent

Interest

Wages

Profit

Income elasticity show the relationship between:

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Income and demand

Income and consumption

Income and price

Income and saving

Due to devaluation exports become:

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Smaller

Larger

Cheaper

Expensive

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

What remains after deduction of direct taxes from the personal incom:

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NNI

DPI

NDI

GNP

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

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NAT I General Science Economics MCQs With Answers

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