| 1 |
When demand for a commodity changes due to the change in price of some other commodity, it is called |
- A. Point elasticity
- B. Arc elasticity
- C. income elasticity
- D. cross elasticity
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| 2 |
A firm gains abnormal profit, when: |
- A. TR = TC
- B. TR > TC
- C. TR < TC
- D. MC = MR
|
| 3 |
Regarding time element, the normal price has types |
- A. One
- B. Two
- C. Three
- D. Four
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| 4 |
All factors of production are variable in the: |
- A. Market period
- B. Long period
- C. Short period
- D. All of these
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| 5 |
Are included in welfare economist |
- A. Ricardo and J.S. Mill
- B. Robbins and Keynes
- C. Cannon and Pigou
- D. Malthus and Keynes
|
| 6 |
Micro economics studies related to |
- A. National income
- B. Unemployment
- C. Trade cycle
- D. Consumer's behavior
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| 7 |
In case of perfectly elastic supply or infinite elasticity of supply, supply curve is |
- A. Horizontal (parallel to x-axis)
- B. Vertical (parallel to y-axis)
- C. Positive sloped
- D. Negative sloped
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| 8 |
In which punishment is not applicable for the disobedience, the laws are |
- A. Moral laws
- B. Laws of state
- C. Political laws
- D. Economic laws
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| 9 |
A tax which is imposed on goods and services: |
- A. Direct tax
- B. Indirect tax
- C. Progressive tax
- D. Proportional tax
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| 10 |
One is not included in measuring National income |
- A. Wage of labour
- B. services of house lady
- C. Agricultural production
- D. Industrial production
|