Question # 1

The elasticity of demand of durable good is:

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More than unity

Equal to unity

Less than unity

Zero

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B Say

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

The supply of land is:

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Infinity

Fixed

Variable

Zero

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

What is deducted from GNP to find GDP.

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Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

Rent of building is included in:

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Fixed cost

Variable cost

Marginal cost

Selling cost

In inflation prices:

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Increase

Do not change

Decrease

Become zero

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

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NNI

DPI

NDI

GNP

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

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