Question # 1

Marginal cost curve always intersects average cost curve at:

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The maximum point

The central point

The minimum point

The vertical point

Inflation will be useful for:

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Labourers

Industrialist

Consumers

Pensioners

Who is responsible for profit and loss in the business:

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Capitalist

Entrepreneur

Labour

Middleman

The economy gets maximum prosperity during:

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Recession

Recovery

Boom

Depression

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

The elasticity of demand of durable goods is:

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Zero

More than unity

Less than unity

Equal to unity

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

What is deducted from GNP to find GDP.

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Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

The quality of a good which satisfies a human want is called as:

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Service

Cost

Utility

None

Factors of production are:

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One

Three

Two

Four

International trade has the benefits

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One

Three

Two

Unlimited

In monopoly the number of firms is:

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One

Three

Two

Unlimited

National income period is

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One year

Three years

Two years

Four years

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

Consumer goods are those goods which are used by a man:

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Directly

Off and On

Indirectly

Never

Personal income includes:

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Direct taxes

Indirect taxes

Undivided profit

Both 2^nd and 3^rd

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

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