| 1 |
Which law is applicable when human and natural forces are balance ? |
- A. Increasing cost
- B. Constant cost
- C. Diminishing cost
- D. Both (a) and (c)
|
| 2 |
Quantity of a commodity offered for sale in a market at a certain price during a given period of time, is called |
- A. Stock
- B. Demand
- C. Supply
- D. Quantity demanded
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| 3 |
One of the following is not included in the public expenditures |
- A. Courts
- B. Fee
- C. Public administration
- D. Defence
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| 4 |
The ratio of change in income to change in investment is known as: |
- A. Multiplier
- B. Accelrator
- C. MEC
- D. Both a and b
|
| 5 |
During the phase of recession prices of goods |
- A. Start rising
- B. Start falling
- C. are highest
- D. are lowest
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| 6 |
When price decreases, supply |
- A. Extends
- B. Contracts
- C. Becomes zero
- D. Remains fixed
|
| 7 |
The sector of production, in which nature and human beings play an equal role, there is applicable |
- A. Law of decreasing return
- B. Law of decreasing cost
- C. Law of increasing return
- D. Law of constant return
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| 8 |
Which one of the following is indirect tax |
- A. Income tax
- B. Property tax
- C. Wealth tax
- D. Sales tax
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| 9 |
Adam Smith presented the basic canons of taxation |
- A. Two
- B. Three
- C. Four
- D. Five
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| 10 |
At last, indirect tax is paid by |
- A. Shopkeeper
- B. Entrepreneur
- C. Customer
- D. Whole-seller
|