Question # 1

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B Say

Reward for labour is:

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Interest

Wages

Profit

Rent

Which Economists presented the law of diminishing marginal utility:

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Robbins

Malthus

Adam Smith

Marshall

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

If total expenditure decreases with the rise in price elasticity of demand will be

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Equal to unity

Less than unity

Greater than unity

Equal to zero

It is a Federal Tax:

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Excise duty

Local tax

Property tax

None

The other name of law of decreasing return is:

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Law of decreasing cost

Law of increasing cost

Law of constant cost

Law of increasing returns

In monopoly the number of firms is:

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One

Three

Two

Unlimited

During a year aggregate value of produced goods and services of a country is called:

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Per-capita income

Net national income

Personal income

Gross national product

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

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