Question # 1

Founder of Classical school of thought was:

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Adam smith

Marshall

Robbins

Keynes

Cause of shifting of demand curve is

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Change in price

Desire

Other factors

Exceptions

Relationship of value of money with quantity of money is

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Direct

Indirect

Inverse

Positive

The term "Price Maker" is used in:

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Perfect competition

Oliogopoly

Monopoly

Monopsony

Which factor can not be stored

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Land

Labour

Capital

Organization

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

One of the following is not the characteristic of money

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General acceptability

Durability

Non homogeneity

Convertibility

One of the following is not included in the sources of public revenue

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Tax

Fee

Defence

Fines

The subject matter of Macro Economics is

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Consumer's behavior

International trade

Firm's behavior

Price mechanism

Demand for basic necessities of life is:

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Perfectly elastic

Less elastic

Perfectly inelastic

More elastic

One of the following is invisible item of balance of payment

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Import of motor cars

Exports of cotton

Expenditure of passengers traveling by air

Private investment in foreign country

Monopoly refers to:

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Single buyer

Single seller

Single producer

Both b and c

Other tern used for demand for factor is:

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Initial demand

derived demand

Direct demand

Cross demand

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

One of the following is not the difficulty of the barter system

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Indivisibility of goods

Lack of common measure of value

Double coincidence of wants

Lack of store of value

When was professor Robbins book "Nature and importance of economics" written

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1915

1932

1934

1937

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