Online Test Information

Question # 1

In monopoly the number of firms is:

One A
Three B
Two C
Unlimited D

Question # 2

Personal income means:

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

Question # 3

International trade has the benefits

One A
Three B
Two C
Unlimited D

Question # 4

The supply of land is:

Infinity A
Fixed B
Variable C
Zero D

Question # 5

The other name of law of diminishing return is:

Law of supply A
Law of diminishing marginal utility B
Law of demand C
Law of increasing cost D

Question # 6

Due to devaluation exports become:

Smaller A
Larger B
Cheaper C
Expensive D

Question # 7

According to law of increasing return marginal product:

Increases A
Decreases B
Remains constant C
None of these D

Question # 8

Inflation on prices:

Decrease A
Remains constant B
Increase C
Become zero D

Question # 9

When price falls supply:

Expands A
Remains zero B
Contrasts C
Become fixed D

Question # 10

The elasticity of demand of durable goods is:

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

Question # 11

National income does not include:

Profit A
Wages B
Interest C
Transfer payments D

Question # 12

What is deducted from GNP to find GDP.

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

Question # 13

Reward for capital is called:

Rent A
Interest B
Wages C
Profit D

Question # 14

Which Economists presented the law of diminishing marginal utility:

Robbins A
Malthus B
Adam Smith C
Marshall 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

According to law of diminishing marginal utility the marginal utility:

Increases A
Remains constant B
Diminishes C
Negative D

Question # 17

Which economist presented the Cardinal Theory of Utility:

Marshall A
Canon B
Kroose C
J.B Say D

Question # 18

The elasticity of demand of durable good is:

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

Question # 19

Ushr implies on:

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

Question # 20

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

Sr.#	Question	Answer
1	Personal income means:	A. Own income B. Family income C. Govt.income D. Old income
2	Canons of taxation describes	A. Marshall B. Keynes C. Robbins D. Adam Smith
3	Ushr implies on:	A. Agricultural product B. Industrial product C. Agricultural & industrial product D. None of these
4	Who described Economics as a scienece of wealth:	A. Piguo B. Adam Smith C. Robbins D. Marshall
5	When national income is increases:	A. Standard of living increases B. Standard of living decreases C. Remains same D. Bad thing
6	According to law of diminishing marginal utility the marginal utility:	A. Increases B. Remains constant C. Diminishes D. Negative
7	The economy gets maximum prosperity during:	A. Recession B. Recovery C. Boom D. Depression
8	According to law of increasing return marginal product:	A. Increases B. Decreases C. Remains constant D. None of these
9	National income period is	A. One year B. Three years C. Two years D. Four years
10	What is deducted from GNP to find GDP.	A. Depreciation allowance B. Net income received from abroad C. Indirect tax D. Transfer payments

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