| 1 |
A firm gains abnormal profit, when: |
- A. TR = TC
- B. TR > TC
- C. TR < TC
- D. MC = MR
|
| 2 |
A firm suffers abnormal losse, when: |
- A. AC = AR
- B. AVC = AR
- C. AVC < AR
- D. AVC > AR
|
| 3 |
National income is total of |
- A. Incomes of all entrepreneurs of the country
- B. Incomes of all industrialists of the country
- C. Incomes of all salaried persons of the country
- D. Incomes of all the people of the country
|
| 4 |
National income means the income |
- A. Which central government earns during a year
- B. Which provincial government earn during a year
- C. Total wealth of a country
- D. Rewards which the factors of production get during a year
|
| 5 |
Which one of the following is not called Gross national product |
- A. Economic national product
- B. Joint national product
- C. Composite national product
- D. All the three
|
| 6 |
Which one of the following is not included in the methods of measuring national income |
- A. Method of total according to market prices
- B. Method of total of incomes
- C. Method of total of domestic necessities and desires
- D. Method of total expenditures
|
| 7 |
Method of measuring national income |
- A. National income=Gross national product - depreciation allowance
- B. National income= Net national product - Indirect costs
- C. National income= Net national product + subsidies
- D. National income= Net national product - indirect taxes + subsidies
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| 8 |
Under monopoly the price is always equal to: |
|
| 9 |
------------------- are added in national income |
- A. Depreciation allowance
- B. Subsidies
- C. Indirect taxes
- D. Direct taxes
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| 10 |
"Quantity of goods and services which is consumed during a year is called national income". This definition of national income is stated by the economist |
- A. Marshall
- B. Pigou
- C. Adam smith
- D. Fisher
|
