Online Test Information

Question # 1

When national income is increases:

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

Question # 2

Which Economists presented the law of diminishing marginal utility:

Robbins A
Malthus B
Adam Smith C
Marshall D

Question # 3

The supply of perishable goods is:

Fixed A
Variable B
Minor change C
Zero D

Question # 4

Average revenue is equal to:

Price A
Marginal revenue B
Total revenue C
Average cost D

Question # 5

Slope of demand curve is:

Negative A
Zero B
Positive C
Fixed D

Question # 6

What remains after deduction of direct taxes from the personal incom:

NNI A
DPI B
NDI C
GNP D

Question # 7

National income period is

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

Question # 8

Marginal cost curve always intersects average cost curve at:

The maximum point A
The central point B
The minimum point C
The vertical point D

Question # 9

Who wrote The Nature and Significance of Economics"

Adam simth A
Marshall B
Robbins C
Keynes D

Question # 10

The unity method of elasticity of demand was presented by:

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

Question # 11

Factors of production are:

One A
Three B
Two C
Four D

Question # 12

Who is the writer of Wealth of Nation?

Marshall A
Adam Smith B
Robbins C
Keynes D

Question # 13

Who is responsible for profit and loss in the business:

Capitalist A
Entrepreneur B
Labour C
Middleman D

Question # 14

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

Directly A
Off and On B
Indirectly C
Never D

Question # 15

What was the difficulty in the barter System:

Excess of goods A
Difference language B
Lack of co-incidence C
Difference in proffession D

Question # 16

Reward for capital is called:

Rent A
Interest B
Wages C
Profit D

Question # 17

Rent of building is included in:

Fixed cost A
Variable cost B
Marginal cost C
Selling cost D

Question # 18

During a year aggregate value of produced goods and services of a country is called:

Per-capita income A
Net national income B
Personal income C
Gross national product D

Question # 19

What is deducted from GNP to find GDP.

Depreciation allowance A
Net income received from abroad B
Indirect tax C
Transfer payments D

Question # 20

Due to devaluation exports become:

Smaller A
Larger B
Cheaper C
Expensive D

Sr.#	Question	Answer
1	Rent of building is included in:	A. Fixed cost B. Variable cost C. Marginal cost D. Selling cost
2	The methods of measuring elasticity of supply are:	A. Three B. Two C. Four D. Five
3	Canons of taxation describes	A. Marshall B. Keynes C. Robbins D. Adam Smith
4	In monopoly the number of firms is:	A. One B. Three C. Two D. Unlimited
5	According to law of increasing return marginal product:	A. Increases B. Decreases C. Remains constant D. None of these
6	It is a Federal Tax:	A. Excise duty B. Local tax C. Property tax D. None
7	Slope of demand curve is:	A. Negative B. Zero C. Positive D. Fixed
8	What was the difficulty in the barter System:	A. Excess of goods B. Difference language C. Lack of co-incidence D. Difference in proffession
9	How many methods can be used for cultivation	A. One B. Two C. Three D. Four
10	Inflation will be useful for:	A. Labourers B. Industrialist C. Consumers D. Pensioners

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