Question # 1

Capital goods are those which can satisfy human wants:

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Directly

Indirectly

Proportionate

None of these

Micro economics studies related to:

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National income

Unemployment

Trade cycle

Consumers behaviour

When AC is falling then:

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MC = AC

AVC = MC

MC > AC

MC < AC

Equilibrium price is determined where:

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D = S

D > S

D < S

Both (b) and (c)

Income received without any economic services:

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National Income

Transfer payments

Interest

Profit

Expenditures of repair of machines are called

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Unproductive expenditures

Productive expenditures

Rewards

Depreciation allowance

______ is not considered perfect money

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Note of ten rupees

Note of hundred rupees

Piece of silver

Note of one thousand rupees

If we deduct foreign income from GNP, we get:

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N.N.P

G.D.P

D.P.I

P.I

Economic laws are:

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Definite and universal

Conditional

Moral

Political

Some inferior goods having expensive substitutes are known as:

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Economic goods

Giffen goods

Non-economic goods

Free goods

One of the following is not the assumption of quantity theory of money

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Velocity of circulation of legal money should not change

Velocity of Circulation of credit money should not change

Quantity of hoardings should not change

Quantity of goods and services should go on changing

Demand for the commodities having different uses

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Less elastic

More elastic

Perfectly inelastic

Infinitely elastic

The second name of law of constant return is

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Law of decreasing cost

Law of increasing cost

Law of cost

Law of constant cost

If the face value of a coin is greater than the value of metal used in:

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Legal money

Token money

Standard money

Both b and c

In between how many countries international trade takes place under comparative cost theory

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Two

Three

Four

Many

Finance minister in order to increase the public revenue, imposes tax on the commodities whose demand is less elastic

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At low rate

At high rate

Some times decreases the tax rate and some times increases the tax rate

Does not change tax rate

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