Question # 1

Zakat can not be given

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to get slaves free

To the collection of zakat

For the construction of Mosque

The converts

Economic point of view of the supporters of which school of thought is the name of feeling and mental state

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Classical

Neo classical

Ancient

Modern

Expenditures of repair of machines are called

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Unproductive expenditures

Productive expenditures

Rewards

Depreciation allowance

Notes and coins are legal tender money because

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Government keeps gold and silver in their exchange

They are issued by the commercial banks

They are issued by the central bank

People are bound to accept them

When general price level increases due to increase in cost of production, it is known as ?

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Stagflation

Hyper inflation

Demand pull inflation

Cost push inflation

Second factor of production is

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Land

Labour

Capital

Organization

Net national product is found by

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Subtracting tax from gross national product

Subtracting transfer payments form gross national product

Subtracting depreciation allowance from gross national product

Subtracting subsidies from gross national product

If due to a very slight decrease in price, demand goes on increasing, elasticity of demand will be

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More than unity

Less than unity

Infinite

Zero

Cardinal utility approach was presented by:

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Adam smith

Keynes

Robbins

Marshall

In private finance the individuals estimate their income and expenditures

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Daily

Weekly

Monthly

Yearly

Cause of shifting of demand curve is

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Change in price

Desire

Other factors

Exceptions

The best definition of money is stated by

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Marhsall

Crowther

Keynes

Walker

Quantity theory of money was introduced in an equation by:

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Fisher

Marshall

Crowther

Tausigg

The money whose face value and intrinsic value are equal, is called

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Token money

Standard money

Paper money

Credit money

Who did criticise the definition of Robbins

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Marshall

J.B. Clark

Beveridge

Pigou

Expenses of wears and tears of machinery are called

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Productive expenses

Non productive expenses

Wages

Depreciation expenses

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