Question # 1

What effects are expected on the purchasing power of money during deflation

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Decreases

Increases

Remains constant

2nd and 3rd

Private owners of minerals are bound to pay --------- Zakat of their production

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10%

15%

20%

25%

All the factors production can be hired except.

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Land

Labour

Capital

Organization

In macro economics, what kind of problems can be discussed

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International trade

Consumers behavior

Problems of a firm

Determination of price

According to neo classical approach, output is the function of:

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Labour

Capital

Organization

Both (a) and (b)

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

The science in which conditions and incidents are checked from a particular point of view, is called

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Positive science

Normative science

Social science

All of three

Total number of canons of taxation stated by different economists is

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Seven

Nine

Eleven

Twelve

In a production process, when units of variable factors along with the fixed factor of production are increased, marginal cost remains the same, this tendency in economics is called

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Law of decreasing cost

Law of constant cost

Law of increasing cost

Law of decreasing return

The price of non-economic want is always:

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Very high

Very Low

Negative

Zero

Unity method to measure elasticity of supply is presented by

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Adam Smith

Robbins

Marshall

Faruson

According to whom economist, National income is the name of the total of production of goods and services

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Adam smith

Marshall

Fisher

Pigou

If supply does not change despite a change in price, then elasticity of supply is called

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Equal to unity

Less than unity

More than unity

Zero

Marginal productivity theory was presented by:

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Pigou and Cannon

Adam Smith and F.A. Walker

Keynes and Semeulson

Marshall and J.B. Clark

Modern theory of trade cycles is presented by

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Prof Schumpeter

Prof Keynes

Prof Hawtrey

Prof Hicks and Samuelson

How many are kinds of economics

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Two

Three

Four

Five

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