Question # 1

Cardinal utility approach was presented by:

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Adam smith

Keynes

Robbins

Marshall

Equilibrium means

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the condition that is not possible

an unstable condition

a condition that can change

stable position

Second factor of production is

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Land

Labour

Capital

Organization

After deducting direct tax from personal income, it is called

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National income

personal income

Disposable personal income

per capital income

"A trade cycle is fluctuation in employment, production and prices" This definition of Trade cycle is stated by

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Prof Keynes

Prof Mitchall

Prof Hanson

Prof Haberler

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

In how many parts professor Adam smith divided his book "Wealth of nations"

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Two

Three

Four

Five

Which one of the following is indirect tax

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Income tax

Property tax

Wealth tax

Sales tax

If price of a commodity constant but its supply increases or price decreases but supply remains constant, it is called

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Rise of supply

Fall of supply

Extension of supply

Contraction of supply

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

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Imports

Exports

Production

Savings

"The nature and significance of economic sciences" was written by:

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Adam smith

Marshall

Robbins

Canon

In law of decreasing cost, marginal cost

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Increases

Decreases

Remains constant

Does not change

One of the following precautions is not included in measurement of national income by product method

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To subtract depreciation allowance

To subtract indirect taxes

Not to include transfer payments

To include subsidies

Transfer payments are included in

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Gross domestic income

National income

Disposable personal income

Personal income

Due to rise in demand, demand curve shifts to

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Right

Left

Both sides

None of these

According to law of demand, curve moves from left to right downward. This type of tendency is called

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Positive tendency

Negative tendency

Extension and contraction of demand

Rise and fall of demand

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