Online Test Information

Question # 1

Which economist presented the Cardinal Theory of Utility:

Marshall A
Canon B
Kroose C
J.B Say D

Question # 2

Average revenue is equal to:

Price A
Marginal revenue B
Total revenue C
Average cost D

Question # 3

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 # 4

Inflation on prices:

Decrease A
Remains constant B
Increase C
Become zero D

Question # 5

Reward for capital is called:

Rent A
Interest B
Wages C
Profit D

Question # 6

Income elasticity show the relationship between:

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

Question # 7

How many methods can be used for cultivation

One A
Two B
Three C
Four D

Question # 8

Canons of taxation describes

Marshall A
Keynes B
Robbins C
Adam Smith D

Question # 9

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

Directly A
Off and On B
Indirectly C
Never D

Question # 10

The economy gets maximum prosperity during:

Recession A
Recovery B
Boom C
Depression D

Question # 11

The economy gets prosperity during:

Recession A
Boom B
Depression C
Recovery D

Question # 12

The elasticity of demand of durable good is:

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

Question # 13

In inflation prices:

Increase A
Do not change B
Decrease C
Become zero D

Question # 14

Rent of building is included in:

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

Question # 15

What is deducted from GNP to find GDP.

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

Question # 16

Which Economists presented the law of diminishing marginal utility:

Robbins A
Malthus B
Adam Smith C
Marshall D

Question # 17

When price falls supply:

Expands A
Remains zero B
Contrasts C
Become fixed D

Question # 18

Who described Economics as a scienece of wealth:

Piguo A
Adam Smith B
Robbins C
Marshall D

Question # 19

According to law of increasing return marginal product:

Increases A
Decreases B
Remains constant C
None of these D

Question # 20

Personal income means:

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

Sr.#	Question	Answer
1	During a year aggregate value of produced goods and services of a country is called:	A. Per-capita income B. Net national income C. Personal income D. Gross national product
2	Rent of building is included in:	A. Fixed cost B. Variable cost C. Marginal cost D. Selling cost
3	Reward for labour is:	A. Interest B. Wages C. Profit D. Rent
4	International trade has the benefits	A. One B. Three C. Two D. Unlimited
5	Which Economists presented the law of diminishing marginal utility:	A. Robbins B. Malthus C. Adam Smith D. Marshall
6	What remains after deduction of direct taxes from the personal incom:	A. NNI B. DPI C. NDI D. GNP
7	The shape of AR and MR under perfect competition is:	A. Vertical B. U-shape C. Horizontal to ox-axis D. None of these
8	Who described Economics as a scienece of wealth:	A. Piguo B. Adam Smith C. Robbins D. Marshall
9	How many methods can be used for cultivation	A. One B. Two C. Three D. Four
10	The supply of perishable goods is:	A. Fixed B. Variable C. Minor change D. Zero

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