Question # 1

When price falls supply:

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Expands

Remains zero

Contrasts

Become fixed

Phases of trade cycle are:

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One

Three

Two

Four

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

Due to devaluation exports become:

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Smaller

Larger

Cheaper

Expensive

Personal income means:

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Own income

Family income

Govt.income

Old income

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

The supply of land is:

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Infinity

Fixed

Variable

Zero

The supply of perishable goods is:

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Fixed

Variable

Minor change

Zero

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

The other name of law of diminishing return is:

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Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

In monopoly the number of firms is:

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One

Three

Two

Unlimited

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

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