Question # 1

Direct taxes are not included in:

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Personal income

G.N.P

G.D.P

Disposable personal income

If the face value of a coin is greater than the value of metal used in:

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Legal money

Token money

Standard money

Both b and c

After subtracting depreciation allowance from gross national product is known

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National income

Net national product

Personal income

Gross domestic product

Methods for measurement of national income are:

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Two

Three

Four

Five

In order to improve the balance of payment the foremost try is to increase

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Imports

Exports

Production

Savings

Transfer payments are included in

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Gross domestic income

National income

Disposable personal income

Personal income

If 50% change in demand in response of 30% change in price then:

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Elasticity of demand = 1

Elasticity of demand < 1

Elasticity of demand > 1

Elasticity of demand = 0

According to quantity theory of money, if quantity of money is doubled then prices are doubled while value of money is

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Doubled

One halved

Less than one halved

Not influenced

When total product decreases, marginal product

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Is positive

Is negative

Is zero

Is increasing

Monetary theory of Trade cycle is presented by

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Prof Hawtrey and Friedman

Prof Keynes

Prof Hobson

Prof Kitchen

Cannon,. Pigou and Pareto belonged to school of thought

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Classical

Neo classical

Keynesian

None of these

Utility attained by all the units of a commodity consumed

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Positive utility

Negative utility

Total utility

Marginal utility

Private individuals are not allowed to fullfil their needs

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To get loans from the friends

To get financial help from the relatives

To get loans from the domestic financial institutions

To print notes

Factors of production are:

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Two

Three

Four

Five

The term "inflation" means:

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Rapid increase in price level

Decrease in price level

General increase in price level

Both a and c

Balance of payment of a country is favourable when its

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Receipts are more than payments

Receipts are less than payments

Receipts are equal to payments

None of three

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