Question # 1

Net foreign income means:

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Import - Exports

Exports - Imports

Import + Exports

Income from imports

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

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

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NNP

GDP

DPI

PI

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

Phases of a trade cycle are

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Two

Three

Four

Five

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

Innovation theory is presented by

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Prof Kegnes

Prof Schumpeter

Prof Hicks

Prof Foster

During the phase of boom level of income and employment is

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Increasing

Decreasing

Highest

Lowest

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

During recession demand for factors of production is

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More

Limited

Very low

Too much

Methods for measurement of national income are:

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Two

Three

Four

Five

Monetary theory of Trade cycle is presented by

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Prof Hawtrey and Friedman

Prof Keynes

Prof Hobson

Prof Kitchen

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

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

During boom

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Business contracts

Unemployment increase

Profit decreases

Profit increases

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

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

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