Online Test Information

Question # 1

Macro Economics was introduced by:

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

Question # 2

Slope of demand curve is:

Negative A
Zero B
Positive C
Fixed D

Question # 3

Phases of trade cycle are:

One A
Three B
Two C
Four D

Question # 4

What is deducted from GNP to find GDP.

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

Question # 5

The economy gets prosperity during:

Recession A
Boom B
Depression C
Recovery D

Question # 6

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

Service A
Cost B
Utility C
None D

Question # 7

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 # 8

Canons of taxation describes

Marshall A
Keynes B
Robbins C
Adam Smith D

Question # 9

Who described Economics as a scienece of wealth:

Piguo A
Adam Smith B
Robbins C
Marshall D

Question # 10

The quality of a commodity which satisfies the human wants:

Usefulness A
Loss B
Utility C
Return D

Question # 11

Who is responsible for profit and loss in the business:

Capitalist A
Entrepreneur B
Labour C
Middleman D

Question # 12

National income does not include:

Profit A
Wages B
Interest C
Transfer payments D

Question # 13

According to law of diminishing marginal utility the marginal utility:

Increases A
Remains constant B
Diminishes C
Negative D

Question # 14

The elasticity of demand of durable good is:

More than unity A
Equal to unity B
Less than unity C
Zero D

Question # 15

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 # 16

National income period is

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

Question # 17

Personal income includes:

Direct taxes A
Indirect taxes B
Undivided profit C
Both 2^nd and 3^rd D

Question # 18

Rent of building is included in:

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

Question # 19

How many methods can be used for cultivation

One A
Two B
Three C
Four D

Question # 20

When price falls supply:

Expands A
Remains zero B
Contrasts C
Become fixed D

Sr.#	Question	Answer
1	Who described Economics as a scienece of wealth:	A. Piguo B. Adam Smith C. Robbins D. Marshall
2	The elasticity of demand of durable goods is:	A. Zero B. More than unity C. Less than unity D. Equal to unity
3	Reward for capital is called:	A. Rent B. Interest C. Wages D. Profit
4	The elasticity of demand of durable good is:	A. More than unity B. Equal to unity C. Less than unity D. Zero
5	Rent of building is included in:	A. Fixed cost B. Variable cost C. Marginal cost D. Selling cost
6	Who criticized Prof.Robbin's definition?	A. Marshall,J.B B. Beveridge C. Clark D. Pigeou
7	International trade has the benefits	A. One B. Three C. Two D. Unlimited
8	Inflation on prices:	A. Decrease B. Remains constant C. Increase D. Become zero
9	International trade has the benefits:	A. One B. Unlimited C. Two D. Three
10	The economy gets prosperity during:	A. Recession B. Boom C. Depression D. Recovery

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