Question # 1

Personal income means:

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Own income

Family income

Govt.income

Old income

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

When national income is increases:

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Standard of living increases

Standard of living decreases

Remains same

Bad thing

National income does not include:

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Profit

Wages

Interest

Transfer payments

Which Economists presented the law of diminishing marginal utility:

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Robbins

Malthus

Adam Smith

Marshall

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

The quality of a good which satisfies a human want is called as:

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Service

Cost

Utility

None

The elasticity of demand of durable goods is:

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Zero

More than unity

Less than unity

Equal to unity

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

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NAT I General Science Economics MCQs With Answers

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