Question # 1

International trade has the benefits

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One

Three

Two

Unlimited

Consumer goods are those goods which are used by a man:

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Directly

Off and On

Indirectly

Never

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

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

How many methods can be used for cultivation

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One

Two

Three

Four

Marginal cost curve always intersects average cost curve at:

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The maximum point

The central point

The minimum point

The vertical point

The elasticity of demand of durable goods is:

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Zero

More than unity

Less than unity

Equal to unity

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

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Service

Cost

Utility

None

Inflation on prices:

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Decrease

Remains constant

Increase

Become zero

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

Who presented the quantity theory of money:

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Marshall

Robbins

Taussig

Keynes

Reward for labour is:

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Interest

Wages

Profit

Rent

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

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

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