Question # 1

Subsidies means:

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Relief price to consumers

Relief in price to Producers

Surplus budget

Both a and b

Transfer payment means:

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Rent transfer

Wages transfer

Reward without services

Profit transfer

Innovation theory is presented by

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Prof Kegnes

Prof Schumpeter

Prof Hicks

Prof Foster

Theory of sun-spot was presented by

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Prof Jevons and Henry L, Moor

Prof Pigou and begehot

Prof Hobson

Prof Cassel

Psychological theory of trade cycles is presented by

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Prof Jevons

Prof Pigou and Bagehot

Prof Keynes

Prof Hawtrey

During depression

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Employment increases

Prices decrease

Profit increases

Prices increase

Monetary theory of Trade cycle is presented by

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Prof Hawtrey and Friedman

Prof Keynes

Prof Hobson

Prof Kitchen

Income received without any economic services:

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National Income

Transfer payments

Interest

Profit

If we deduct depreciation from GNP, we get:

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P.I

G.D.P

D.P.I

N.N.P

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

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Depression

Recovery

Boom

Recession

Which phase starts with the increase in expected rate of profit

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Depression

Recovery

Boom

Recession

During recession demand for factors of production is

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More

Limited

Very low

Too much

During the phase of recovery prices, wages, interest rate and profits

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Start falling gradually

Start rising gradually

are highest

are lowest

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

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

Direct taxes are not included in:

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Personal income

G.N.P

G.D.P

Disposable personal income

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

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