Question # 1

One of the following is not included in labour

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Teaching of a teacher in a school

Working of a clerk in an office

To follow a case by a lawyer

To look after the child by his mother

Inflation will be useful for

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Labourers

Consumers

Penioners

Industrialist

Monopoly refers to:

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Single buyer

Single seller

Single producer

Both b and c

The cause of rise and fall of demand is

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income

price

population

Both 1st and 3rd

Which thing of the following should be subtracted from gross national product to get net national product

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Direct taxes

Indirect taxes

Depreciation allowance

Income received from foreign country

During depression

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Employment increases

Prices decrease

Profit increases

Prices increase

Production which is produced with a particular combination of factors of production, is called

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Total product

Average product

Marginal product

Positive product

"General theory of employment, interest and money" was written in:

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1930

1936

1932

1890

After deducting direct tax from personal income, it is called

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National income

personal income

Disposable personal income

per capital income

During depression, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

Laws of return are

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Two

Three

Four

Five

When the price of a commodity increases but its demand does not change, this situation is called

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Constant demand

Fall of demand

Rise of demand

Contraction of demand

Feature of a commodity to satisfy human want, is called

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Value

Usefulness

Utility

Wealth

Equilibrium level of national income means that point where:

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Consumption = Saving

Consumption = Investment

Saving = Investment

Income = Saving + Investment

The equilibrium of the market is that demand and supply to each other are

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opposite

positive

equal

negative

Who said that economics is the science of wealth ?

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Adam Smith

Robbins

Marshall

Pigou

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