Question # 1

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

When price falls supply:

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Expands

Remains zero

Contrasts

Become fixed

Personal income means:

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Own income

Family income

Govt.income

Old income

Rent of building is included in:

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Fixed cost

Variable cost

Marginal cost

Selling cost

What remains after deduction of direct taxes from the personal incom:

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NNI

DPI

NDI

GNP

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

Average revenue is equal to:

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Price

Marginal revenue

Total revenue

Average cost

Consumer goods are those goods which are used by a man:

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Directly

Off and On

Indirectly

Never

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B Say

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

National income period is

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One year

Three years

Two years

Four years

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