Question # 1

Movement on the same demand curve is called:

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Increase is demand

Rise and fall in demand

Decrease in demand

Expansions and contraction in demand

Quickly destroyable goods are called

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Superior goods

Inferior goods

Perishable goods

Giffen godds

If face value is equal to the metal value of a coin, it is called as

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Paper money

Token money

Credit money

Standard money

Equilibrium of national income is, when

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S > 1

S = 1

S < 1

S and 1

Average product is maximum, when marginal product curve ______ average product curve

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Intersects falling

Intersect rising

Is above

Is below

The costs which increase with the increase in output and decrease with the decrease in output, are called

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Variable costs

Fixed costs

Average costs

Marginal cost

The money whose face value and intrinsic value are different

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Token money

Standard money

Legal money

Near money

When total production decreases, marginal product is:

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Positive

Negative

Zero

Infinite

In which year the book named "An enquiry into the nature and causes of the wealth of nations" was written

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1696

1776

1803

1825

Which phase starts with the increase in expected rate of profit

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Depression

Recovery

Boom

Recession

If supply does not change, then due to rise of demand

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Equilibrium price increases

Equilibrium price decreases

Equilibrium price does not change

Equilibrium quantity decreases

If the total expenditure of the consumer increases due to increase in price, then nature of elasticity of demand will be

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Equal to unity

Less than unity

More than unity

Elasticity of demand = zero

The second name of law of constant return is

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Law of decreasing cost

Law of increasing cost

Law of cost

Law of constant cost

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

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Negative

Positive

Horizontal

Vertical

Foreign exchange is used in

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Local trade

Regional trade

Domestic trade

International trade

When marginal product is zero, total product is

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Maximum

Minimum

Negative

Zero

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