Question # 1

The economy gets maximum prosperity during:

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Recession

Recovery

Boom

Depression

International trade has the benefits:

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One

Unlimited

Two

Three

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

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

Personal income means:

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Own income

Family income

Govt.income

Old income

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

Average revenue is equal to:

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Price

Marginal revenue

Total revenue

Average cost

Rent of building is included in:

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Fixed cost

Variable cost

Marginal cost

Selling cost

In monopoly the number of firms is:

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One

Three

Two

Unlimited

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

Due to devaluation exports become:

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Smaller

Larger

Cheaper

Expensive

Who wrote The Nature and Significance of Economics"

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Adam simth

Marshall

Robbins

Keynes

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

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