Question # 1

Disposable personal income means

Choose an answer

Total of incomes

Income of an industry after fulfilling all the needs

After paying personal taxes, income of the people who provide factors of production

Save income of a person after the payment of the taxes

"National income is that part of material wealth of a nation which can be measured by the scale of money" This definition of national income is stated by the economist

Choose an answer

Marshall

Pigou

Adam smith

Clark

If MC=MR=AR=AC=P, then a firms gains:

Choose an answer

Super profit

Normal profit

Normal loss

Abnormal loss

National income increases by

Choose an answer

The increase in the quantity of capital goods

The increase in the quantity of goods and services

The increase in price of goods

The increase in the income of entrepreneurs

According to professor Ackley Gardener, amounts are included in national income

Choose an answer

Wages

Rents and interests

Profits

All the three

Disposable personal income is equal to

Choose an answer

Personal income + direct taxes

Personal income + indirect taxes

Personal income + direct and indirect taxes

Personal income - direct taxes

------------------- are added in national income

Choose an answer

Depreciation allowance

Subsidies

Indirect taxes

Direct taxes

Monopoly refers to:

Choose an answer

Single buyer

Single seller

Single producer

Both b and c

Price discrimination policy refers to:

Choose an answer

Single price

Two prices

Multiple prices

None of these

Expenses of wears and tears of machinery are called

Choose an answer

Productive expenses

Non productive expenses

Wages

Depreciation expenses

Expenditures of repair of machines are called

Choose an answer

Unproductive expenditures

Productive expenditures

Rewards

Depreciation allowance

Individual income means

Choose an answer

Total of incomes received from any means by the people

Total of incomes of entrepreneurs of the country

Income of a particular person

Income of a family

Concept of equilibrium level of national income in comprehensive way was presented by

Choose an answer

Professor keynes

Professor Marshall

Professor hicks

Professor Lipsay

National income is total of

Choose an answer

Incomes of all entrepreneurs of the country

Incomes of all industrialists of the country

Incomes of all salaried persons of the country

Incomes of all the people of the country

Basic object of a firm is to get maximum:

Choose an answer

Price

Profit

Production

All of three

The term "Price Taker" is used in:

Choose an answer

Perfect competition

Oliogopoly

Monopoly

Monopsony

More Classes

Other Links

Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer