Online Test Information

Question # 1

Ushr implies on:

Agricultural product A
Industrial product B
Agricultural & industrial product C
None of these D

Question # 2

National income does not include:

Profit A
Wages B
Interest C
Transfer payments D

Question # 3

The supply of perishable goods is:

Fixed A
Variable B
Minor change C
Zero D

Question # 4

Macro Economics was introduced by:

Alfred Marshall A
J.M.Keynes B
N.W Senior C
J.B.Clark D

Question # 5

Inflation will be useful for:

Labourers A
Industrialist B
Consumers C
Pensioners D

Question # 6

The economy gets maximum prosperity during:

Recession A
Recovery B
Boom C
Depression D

Question # 7

Factors of production are:

One A
Three B
Two C
Four D

Question # 8

Average revenue is equal to:

Price A
Marginal revenue B
Total revenue C
Average cost D

Question # 9

Canons of taxation describes

Marshall A
Keynes B
Robbins C
Adam Smith D

Question # 10

When price falls supply:

Expands A
Remains zero B
Contrasts C
Become fixed D

Question # 11

Who is the writer of Wealth of Nation?

Marshall A
Adam Smith B
Robbins C
Keynes D

Question # 12

Income elasticity show the relationship between:

Income and demand A
Income and consumption B
Income and price C
Income and saving D

Question # 13

Which economist presented the Cardinal Theory of Utility:

Marshall A
Canon B
Kroose C
J.B Say D

Question # 14

Who is responsible for profit and loss in the business:

Capitalist A
Entrepreneur B
Labour C
Middleman D

Question # 15

The unity method of elasticity of demand was presented by:

Adam Smith A
Marshall B
J.R Hicks C
Pigeou D

Question # 16

The other name of law of decreasing return is:

Law of decreasing cost A
Law of increasing cost B
Law of constant cost C
Law of increasing returns D

Question # 17

Personal income means:

Own income A
Family income B
Govt.income C
Old income D

Question # 18

When national income is increases:

Standard of living increases A
Standard of living decreases B
Remains same C
Bad thing D

Question # 19

National income period is

One year A
Three years B
Two years C
Four years D

Question # 20

In inflation prices:

Increase A
Do not change B
Decrease C
Become zero D

Sr.#	Question	Answer
1	Ushr implies on:	A. Agricultural product B. Industrial product C. Agricultural & industrial product D. None of these
2	Rent of building is included in:	A. Fixed cost B. Variable cost C. Marginal cost D. Selling cost
3	Inflation on prices:	A. Decrease B. Remains constant C. Increase D. Become zero
4	Reward for labour is:	A. Interest B. Wages C. Profit D. Rent
5	The unity method of elasticity of demand was presented by:	A. Adam Smith B. Marshall C. J.R Hicks D. Pigeou
6	It is a Federal Tax:	A. Excise duty B. Local tax C. Property tax D. None
7	Who is the writer of Wealth of Nation?	A. Marshall B. Adam Smith C. Robbins D. Keynes
8	In inflation prices:	A. Increase B. Do not change C. Decrease D. Become zero
9	The economy gets maximum prosperity during:	A. Recession B. Recovery C. Boom D. Depression
10	Which Economists presented the law of diminishing marginal utility:	A. Robbins B. Malthus C. Adam Smith D. Marshall

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