Question # 1

AR curve is also called:

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Supply curve

Demand curve

Utility curve

Cost curve

Adam Smith presented the basic canons of taxation

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Two

Three

Four

Five

A system where the goods are exchanged with money is known as:

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Monetary system

Barter system

Coins system

Modified system

If price decreases but supply remains constant, it is called:

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Fall in supply

Contraction in supply

Expansion in supply

Rise in supply

One of the following is not the cause of deflation

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Decrease in demand for goods

Decrease in consumption

Increase in quantity of money

Increase in supply of goods

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

One of the following is not advantage of paper money

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Saving of metals

Saving of coinage

Easy transferability

Perfectly inelastic supply

The demand curve slopes

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upwards

Horizontal

vertical

downward to the right

If supply of a commodity changes by less than 10% due to a 10% change in its price, then elasticity of supply will be

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Equal to unity

More than unity

Less than unity

Zero

The exchange of goods and services from country to country is called

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Foreign

National trade

Corporate trade

Domestic trade

In order to improve the balance of payment the foremost try is to increase

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Imports

Exports

Production

Savings

The term "Price Maker" is used in:

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Perfect competition

Oliogopoly

Monopoly

Monopsony

World economic depression accured in

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1927

1928

1929

1931

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

Who did separate economics from political science for the first time

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Marshall

Malthus

Adam smith

Ricardo

Balance of payment of a country in unfavourable when its

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Receipts are more than payments

Receipts are less than payments

Receipts are equal to payments

None of three

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