Question # 1

Zakat means

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Growth

Purification

Tax

Both 1st and 2nd

Which is not studied in macro economics

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National income

Money and banking

Price theory

Public finance

The duty of a market is not to

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make exchange of goods

contact buyers and sellers

determine price

give maximum output

Shape of market supply curve is

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Horizontal or parallel to ox curve

Vertical or parallel to oy curve

Positively sloping

Negatively sloping

If supply decreases due to decrease in price, it is called

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Extension of supply

Contraction of supply

Rise of supply

Fall of supply

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

If demand changes by more than 10% due to 10% change in price, then elasticity of demand is called

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Equal to unity

More than unity

Less than unity

Infinite

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

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1930

1936

1932

1890

Under monopoly average revenue curve remains ______ the marginal revenue curve

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Below

Above

Parallel to

None of three

Theory of innovations was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

J.R Hicks

Expenses of wears and tears of machinery are called

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Productive expenses

Non productive expenses

Wages

Depreciation expenses

In monopoly, when total revenue of a firm is maximum, then its marginal revenue is

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Maximum

Minimum

Zero

Negative

Flux method is also known as:

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Percentage method

Unitary method

Total expenditure method

All of them

If supply rises more proportionately than that of demand, then

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Equilibrium price increases

Equilibrium price decreases

Equilibrium price does not change

Equilibrium quantity decreases

Nature of inter-relationship of average revenue and marginal revenue under perfect competition is

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Average revenue remains more than marginal revenue

Average revenue remains less than marginal revenue

Marginal revenue remains less than average revenue

Average revenue remains equal to marginal revenue

Average cost curve is in short run

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Negative sloped

U-shaped

L-shaped

Positive sloped

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