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Online Tests
Principles of Economics Icom Part 1 English Medium Online Test MCQs With Answers
Question # 1
One of the following is not the method to control deflation
Choose an answer
Decrease in public expenditures
Decrease in interest rate
Decrease in income tax
increase in exports
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Question # 2
Who did separate economics from political science for the first time
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Marshall
Malthus
Adam smith
Ricardo
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Question # 3
Zakat can not be given
Choose an answer
to get slaves free
To the collection of zakat
For the construction of Mosque
The converts
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Question # 4
Transfer payment means that income
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Which can move from one place to order place i.g. money etc.
Which is received without labour, e.g. Zakat, gift , pension etc
Which is received after hardwork
Which is received by exports
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Question # 5
Disadvantages of paper money are
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Unstable value
Possibility of inflation
Possibility of wastage
All the three
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Question # 6
Monopolist firm in the long run
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Always faces loss
Usually faces loss
Usually earns normal profit
Always earns abnormal profit
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Question # 7
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
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Question # 8
Study of large aggregated of economic system is called
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Micro economics
Macro economics
Applied economics
All the three
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Question # 9
The rate of usher on product of canal land is
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5%
10%
20%
2.5%
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Question # 10
River, sea, forests, rain are called
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Land
Labour
Capital
Organization
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Question # 11
Which one of the following is not included in the methods of measuring national income
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Method of total according to market prices
Method of total of incomes
Method of total of domestic necessities and desires
Method of total expenditures
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Question # 12
Elasticity of supply if perishable goods is
Choose an answer
Equal to unity
More than unity
Less than unity
Zero
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Question # 13
Because of indirect taxes, prices
Choose an answer
Decrease
Remain constant
Increase
Do not change
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Question # 14
Exceptions, or limitations of law of demand have been stated by
Choose an answer
Professor Marshall
Professor Adam Smith
Professor Benham
Professor Robbins
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Question # 15
Equilibrium level of national income means that point where:
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Consumption = Saving
Consumption = Investment
Saving = Investment
Income = Saving + Investment
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Question # 16
Who wrote the book named "An enquiry into the nature and causes of the wealth of nations ?
Choose an answer
Adam Smith
Marshall
Robbins
Canon
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