Question # 1

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

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

When national income is increases:

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Standard of living increases

Standard of living decreases

Remains same

Bad thing

International trade has the benefits

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One

Three

Two

Unlimited

What is deducted from GNP to find GDP.

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Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

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