Question # 1

Income received without any economic services:

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National Income

Transfer payments

Interest

Profit

In which phase of a trade cycle production, employment, wages and rate of interest etc start rising gradually

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Boom

Depression

Recovery

Recession

Psychological theory of trade cycles is presented by

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Prof Jevons

Prof Pigou and Bagehot

Prof Keynes

Prof Hawtrey

"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

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

According to which economist some trade cycles complete their cycle during a period of fifty years or sixty years

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Prof Kitchen

Prof Jugglar

Prof Pigou

Prof Kondratieff

According to Prof. Jugglar a trade cycle comletes in

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Five to six years

Nine to ten years

Ten to eleven years

Eleven to twelve years

If we deduct depreciation from GNP, we get:

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P.I

G.D.P

D.P.I

N.N.P

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

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Recovery

Recession

Boom

Depression

During depression, increases

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Unemployment

Employment

Profit

Production

Modern theory of trade cycles is presented by

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Prof Schumpeter

Prof Keynes

Prof Hawtrey

Prof Hicks and Samuelson

Innovation theory is presented by

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Prof Kegnes

Prof Schumpeter

Prof Hicks

Prof Foster

During depression

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Employment increases

Prices decrease

Profit increases

Prices increase

In which phase of a trade cycle level of employment and income become very low

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Depression

Recovery

Boom

Recession

Market value of all final goods and services is known as:

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N.I

G.N.P

N.N.P

Both a and b

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

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