Question # 1

One of the following is not studied in Micro economics.

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Equilibrium to the firm

Distribution of rewards to factors of productions

Banking system

Market equilibrium

Only those goods are priced in the market which have:

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Utility

Sacrcity

Transferability

All of the above

Father of the political economy

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Adam smith

Malthus

Marshall

Samuelson

A change in price brings in quantity supplied. it will be.

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Rise in supply

Contraction of supply

Fall in supply

Extension of supply

The necessary condition for equilibrium of firm is

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AVC = AFC

AR = MR

MC = MR

TVC = TFC

Which is the general form of quadratic equation

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x²-x-20 = 0

ax²+bx +c = 0

x²- x -c =0

None of these

Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is

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10%

30%

3

1/3

The transformation of resources into economic goods and services is called

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technical efficiency

input

production

increasing returns

The borrower has to pay interest because of

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His poverty

productivity of capital

greediness of capitalist

scarcity of capital

Normal profit is attained where:

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TR = TC

TR >TC

AR > MR

AR < MR

Land is mobile factor of production.

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Not mobile

Mobile by the transfer ownership

Geographically mobile

Mobile vertically

To say that two goods are unrelated, their cross price elasticity of demand should be

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less than 0

greater than 0

equal to 0

1

When MP is zero, TP is

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minimum

maximum

rising

falling

The demand for a product is inelastic. In order to increase government revenue, the finance minister will :

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Lower down the tax rate

Increase the tax rate

Not change the tax rate

Double the tax rate

x = 5 y^-1 this is a.

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Constant function

Explicit function

Inverse function

Decreasing function

There are large number of seller and buyers in the market but none is able to influence market price. such a market is called

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free

open

regular

competitive

Prof. Robins wrote a book in 1931 entitled.

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General Theory of employment. Interest and money.

An inquiry into the nature and causes of wealth of nations.

Principle of economics.

Nature and Significance of economic science.

One of the following will not cause a rise and fall on demand.

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Change in income

Change in weather

Discovery of a substitute

Distribution of income remaining the same

To reduce unemployment the govt. may

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reduce money supply

reduce mobility of labour

reduce minimum wages

increase government spending

The relationship between two variables that move in the same direction is called

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neutral

positive

independent

dependent

The concept of internal and external economics was given by.

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Adam Smith

Robbins

J.M.Keynes

Alfred Marshall

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