Question # 1

In which phase of a trade cycle national product, wages, prices and profits reach at their peak

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Recovery

Boom

Recession

Depression

Transfer payment means:

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Rent transfer

Wages transfer

Reward without services

Profit transfer

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

If we deduct depreciation from GNP, we get:

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P.I

G.D.P

D.P.I

N.N.P

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

The innovation theory of trade cycles was presented by

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Hayek

Hawtray

Schumpeter

Pigou

Direct taxes are not included in:

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Personal income

G.N.P

G.D.P

Disposable personal income

National Income is also known as:

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National product

Total expenditure

Total population

Both a and b

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

According to Prof. Kitchen a trade cycle completes in

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Two years six months

Three years or Fifty years

Fifty years or Sixty years

Sixty years or Seventy years

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

If we deduct foreign income from GNP, we get:

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N.N.P

G.D.P

D.P.I

P.I

If we deduct direct taxes from personal income, we get:

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NNP

GDP

DPI

PI

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

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Depression

Recovery

Boom

Recession

"A trade cycle is fluctuation in employment, production and prices" This definition of Trade cycle is stated by

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Prof Keynes

Prof Mitchall

Prof Hanson

Prof Haberler

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

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

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