Question # 1

Marginal revenue product curve is called

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Demand curve of firm

Supply curve of firm

Demand curve of industry

Supply curve of industry

Demand for factors of production is

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Direct

Derived

Positive

Negative

Elasticity of demand for the commodities which have substitutes, is

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More elastic

Less elastic

Infinite

Zero

Demand for good like Television and VCR is

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Less elastic

More elastic

Perfectly inelastic

Infinitely elastic

The percentage part of the mineral production is payable as Zakat on private owners of minerals

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5%

10%

15%

20%

------------ is not included in gross domestic product

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Private investment

Income received from foreign country

Depreciation allowance

Govt. investment

Which is considered as a transfer payment

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wages

salaries

prices

unemployment allowances

One of the following is non economic want:

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Car

Bike

Fan

Self respect

Supply of goods depends upon

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Price

Income

Price and income

Utility

In which phase of a trade cycle national product, wages, prices and profits reach at their peak

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Recovery

Boom

Recession

Depression

According to which economist, duration of a trade cycle is 9 to 10 years

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Prof Kitchen

Prof Jugglar

Prof Pigou

Prof Kondratieff

Which phase starts with the increase in expected rate of profit

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Depression

Recovery

Boom

Recession

Monetary theory of trade cycle was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Which law is applicable when human and natural forces are balance ?

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Increasing cost

Constant cost

Diminishing cost

Both (a) and (c)

National income at factor cost is equal to:

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G.N.P - Subsidies + taxes

N.N.P - Direct tax + Subsidies

G.D.P - Subsidies + taxes

N.N.P - Indirect tax + Subsidies

When price of a commodity decreases but its demand does not change, this situation is called

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Constant demand

Fall of demand

Rise of demand

Extension of demand

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