Question # 1

When national income is increases:

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Standard of living increases

Standard of living decreases

Remains same

Bad thing

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

Who is responsible for profit and loss in the business:

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Capitalist

Entrepreneur

Labour

Middleman

Average revenue is equal to:

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Price

Marginal revenue

Total revenue

Average cost

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

International trade has the benefits

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One

Three

Two

Unlimited

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

Reward for capital is called:

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Rent

Interest

Wages

Profit

The elasticity of demand of durable goods is:

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Zero

More than unity

Less than unity

Equal to unity

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NAT I General Science Economics MCQs With Answers

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