Question # 1

If an entrepreneur does service, in economics it is called

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Organization

Discipline

Labour

Wage

During the phase of recovery prices, wages, interest rate and profits

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Start falling gradually

Start rising gradually

are highest

are lowest

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

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Robbins

Pigou

Keynes

Canon

According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity

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Increases

Decreases

Remains constant

None of these

According to quantity theory of money one halving the quantity of money prices

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Increase

Double

Decrease

One half

Measurement of arc elasticity of demand was present:

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Keynes

Marshall

Adam smith

R.G.D Allen

If demand for commodity X changes due to the change in price of commodity, it is called

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Cross elasticity

Price elasticity

Income elasticity

Arc elasticity

Who said that economics is positive science

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Adam Smith

Marshall

Robbins

Keynes

Net National product is equal to

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GNP + Depreciation expenditure

GDP + Depreciation expenditure

GNP - Depreciation expenditure

GDP - Depreciation expenditure

One of the following is considered as capital:

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Land

Labour

Raw material

Both (a) and (b)

Who said that economics is normative science ?

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Keynes

Robbins

Marshall

Rocher

In case of fall in demand, demand curve shifts:

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Left side

Right side

Downward

Both (a) and (c)

How many kinds are of positive economics

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Two

Three

Four

Five

Which combination of the following is of joint demand

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Tea and coffee

Petrol and car

Meat and grocery

Inkpot and book

When average cost curve id falling, then marginal cost curve

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Remains below it

Remains above it

Remains parallel to it

Is vertical

Period in national income counting is

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One year

Two years

Three years

Four years

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