Question # 1

Supply curve moves from left to right upward, this tendency is called

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Negative

Positive

Horizontal

Vertical

Difficulties in barter system:

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Lack of double coincidence of wants

Lack of storing value

Lack of common measure of value

All of these

If there is big change in Price and demand, it is called

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Arc elasticity

Point elasticity

Income elasticity

Cross elasticity

Government needs public finance

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For the defence of frontiers

To maintain law and order in the country

For the payment of salaries of government employees

For the welfare of the people

MRP curve of a factor represents:

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Demand of factors

Supply of factors

Price of factors

Both a and c

Marginal productivity theory was presented by:

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Pigou and Cannon

Adam Smith and F.A. Walker

Keynes and Semeulson

Marshall and J.B. Clark

Firm's cost depends upon:

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Revenue

Supply

Price

Output

Transfer payments are included in

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Gross domestic income

National income

Disposable personal income

Personal income

In law of increasing cost, marginal cost

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Increases

Decreases

Remains constant

Remains fixed

If supply increase due to increase in price, it is called

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Extension of supply

Contraction of supply

Rise of supply

Fall of supply

Which one is not studied in micro economic

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National income

Consumer behavior

Market equilibrium

Firm's equilibrium

The money which is not in the form of net cash and is not used at once for business dealing is called

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Near money

Legal Tender money

Credit money

Paper money

A system where the goods are exchanged with money is known as:

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Monetary system

Barter system

Coins system

Modified system

Who did write the book named "General theory of employment, interest and money"

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Marshall

Pigou

Adam Smith

Keynes

International trade is based on the following except

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Different factors of production are required for the production of different goods

Factors of production exist in different ratios in different countries

Factors of production are in abundant quantity in different countries

Factors of production are in limited quantity in different countries

Demand for the commodities having different uses

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Less elastic

More elastic

Perfectly inelastic

Infinitely elastic

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