Question # 1

The supply of perishable goods is:

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Fixed

Variable

Minor change

Zero

Phases of trade cycle are:

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One

Three

Two

Four

What is deducted from GNP to find GDP.

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Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

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

The economy gets maximum prosperity during:

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Recession

Recovery

Boom

Depression

Canons of taxation describes

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Marshall

Keynes

Robbins

Adam Smith

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

Reward for labour is:

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Interest

Wages

Profit

Rent

The supply of land is:

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Infinity

Fixed

Variable

Zero

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