| 1 |
------------------- are added in national income |
- A. Depreciation allowance
- B. Subsidies
- C. Indirect taxes
- D. Direct taxes
|
| 2 |
Duopoly refers to: |
- A. Single seller
- B. Two seller
- C. Multiple sellers
- D. Multiple buyers
|
| 3 |
Firms earn abnormal profit when: |
- A. AR = AC
- B. AR < AC
- C. AR > AC
- D. AC = AR
|
| 4 |
"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
|
| 5 |
If we subtract direct taxes from personal income, we get |
- A. Net national income
- B. Net domestic income
- C. Disposable personal income
- D. Personal savings
|
| 6 |
Expenses of wears and tears of machinery are called |
- A. Productive expenses
- B. Non productive expenses
- C. Wages
- D. Depreciation expenses
|
| 7 |
Disposable personal income is equal to |
- A. Personal income + direct taxes
- B. Personal income + indirect taxes
- C. Personal income + direct and indirect taxes
- D. Personal income - direct taxes
|
| 8 |
Which thing of the following should be subtracted from gross national product to get net national product |
- A. Direct taxes
- B. Indirect taxes
- C. Depreciation allowance
- D. Income received from foreign country
|
| 9 |
Price discrimination policy refers to: |
- A. Single price
- B. Two prices
- C. Multiple prices
- D. None of these
|
| 10 |
Difference between total revenue and total cost presents: |
- A. Price
- B. Profit
- C. Production
- D. Loss
|
