Question # 1

Equilibrium level of national income means that point where:

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Consumption = Saving

Consumption = Investment

Saving = Investment

Income = Saving + Investment

Income received without any economic services:

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National Income

Transfer payments

Interest

Profit

Net foreign income means:

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Import - Exports

Exports - Imports

Import + Exports

Income from imports

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

Psychological theory of trade cycles is presented by

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Prof Jevons

Prof Pigou and Bagehot

Prof Keynes

Prof Hawtrey

The period in which an economy comes back from prosperity to depression is called

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Recovery

Recession

Boom

Depression

National Income is also known as:

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National product

Total expenditure

Total population

Both a and b

According to which economist, duration of a trade cycle is 9 to 10 years

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Prof Kitchen

Prof Jugglar

Prof Pigou

Prof Kondratieff

The income which a person can use according to his will called:

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Net income

Per capital income

Personal income

Disposable personal income

"A trade cycle is completed in three years four months" This is stated by

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Prof Kitchen

Prof Jugglar

Prof Jevons

Prof Pigou

During depression

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Employment increases

Prices decrease

Profit increases

Prices increase

Innovation theory is presented by

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Prof Kegnes

Prof Schumpeter

Prof Hicks

Prof Foster

During depression, increases

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Unemployment

Employment

Profit

Production

Which phase starts with the increase in expected rate of profit

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Depression

Recovery

Boom

Recession

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

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Principles of Economics Icom Part 1 English Medium Chapter 11 Online Test MCQs With Answers

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