Question # 1

In inflation prices:

Choose an answer

Increase

Do not change

Decrease

Become zero

The elasticity of demand of durable good is:

Choose an answer

More than unity

Equal to unity

Less than unity

Zero

What is deducted from GNP to find GDP.

Choose an answer

Depreciation allowance

Net income received from abroad

Indirect tax

Transfer payments

In monopoly the number of firms is:

Choose an answer

One

Three

Two

Unlimited

When price falls supply:

Choose an answer

Expands

Remains zero

Contrasts

Become fixed

International trade has the benefits:

Choose an answer

One

Unlimited

Two

Three

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

Choose an answer

Service

Cost

Utility

None

Canons of taxation describes

Choose an answer

Marshall

Keynes

Robbins

Adam Smith

The shape of AR and MR under perfect competition is:

Choose an answer

Vertical

U-shape

Horizontal to ox-axis

None of these

The supply of land is:

Choose an answer

Infinity

Fixed

Variable

Zero

The other name of law of diminishing return is:

Choose an answer

Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

More Classes

Other Links

NAT I General Science Economics MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer