11th Principle of Economics Chapter 11 Test

Here you can prepare 11th Principle of Economics English Medium Chapter 11 Business Cycle Test. Click the button for 100% free full practice test.

First Year Principles of Economics Chapter 11 Online MCQ Test for 1st Year Principles of Economics Chapter 11 (Business Cycle)

This online test contains MCQs about following topics:

. Phase of trade cycle . Main characteristics of trade cycles . Theories of trade cycles . Psychological theory . Under consumption or over saving theory . Monetary theory . Keynes theory . Modern theory of trade cycle . Remedial measuers

ICOM Part 1 Economics Ch 11 Test
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First Year Principles of Economics Chapter 11 Online MCQ Test for 1st Year Principles of Economics Chapter 11 (Business Cycle)

Sr. # Questions Answers Choice
1 National income at factor cost is equal to:
  • A. G.N.P - Subsidies + taxes
  • B. N.N.P - Direct tax + Subsidies
  • C. G.D.P - Subsidies + taxes
  • D. N.N.P - Indirect tax + Subsidies
2 Psychological theory of trade cycles is presented by
  • A. Prof Jevons
  • B. Prof Pigou and Bagehot
  • C. Prof Keynes
  • D. Prof Hawtrey
3 In which phase of a trade cycle production, employment, wages and rate of interest etc start rising gradually
  • A. Boom
  • B. Depression
  • C. Recovery
  • D. Recession
4 Monetary theory of Trade cycle is presented by
  • A. Prof Hawtrey and Friedman
  • B. Prof Keynes
  • C. Prof Hobson
  • D. Prof Kitchen
5 Depreciation means:
  • A. Wear and Tear
  • B. Reduction in value
  • C. Decrease in value
  • D. All of these
6 During depression, increases
  • A. Unemployment
  • B. Employment
  • C. Profit
  • D. Production
7 In Macro economies the vital role is played by:
  • A. Marshall
  • B. J.R.Hicks
  • C. Robbins
  • D. Keynes
8 Equilibrium level of national income means that point where:
  • A. Consumption = Saving
  • B. Consumption = Investment
  • C. Saving = Investment
  • D. Income = Saving + Investment
9 "A trade cycle is fluctuation in employment, production and prices" This definition of Trade cycle is stated by
  • A. Prof Keynes
  • B. Prof Mitchall
  • C. Prof Hanson
  • D. Prof Haberler
10 Modern theory of trade cycles is presented by
  • A. Prof Schumpeter
  • B. Prof Keynes
  • C. Prof Hawtrey
  • D. Prof Hicks and Samuelson

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