Question # 1

During the phase of recovery prices, wages, interest rate and profits

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Start falling gradually

Start rising gradually

are highest

are lowest

Market equilibrium is determined when

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Demand = supply

Demand > supply

Demand < supply

Demand = zero

International Monetary fund is

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Local

Regional

National

International

Which one of the following is not included in the methods of measuring national income

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Method of total according to market prices

Method of total of incomes

Method of total of domestic necessities and desires

Method of total expenditures

One of the following is not monetary measure to control inflation

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Increase in bank rate

Open market operation

Increase in ratio of reserve capital

To create constant situation

Quickly destroyable goods are called

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Superior goods

Inferior goods

Perishable goods

Giffen godds

The trade that takes place between the individuals living in different areas of a country is called

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Domestic trade

International trade

Foreign trade

Regional Trade

Net foreign income means:

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Import - Exports

Exports - Imports

Import + Exports

Income from imports

Founder of new classical school of thought was

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Adam smith

Marshall

Robbins

Keynes

The main cause of using the Cheque as money is

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They are proved as receipt

Most of the people accept them

Protection of money

Easy in transportation

Value of money means purchasing power of money. If quantity of money is doubled then

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Purchasing power of money will be one halved

Purchasing power of money will be doubled

Purchasing power of money will be tripled

There will be no effect on the purchasing power of money

The price at which entrepreneur has a sufficient time to meet the demand, is called

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Market price

Normal price

Reserve price

Normal price

Laws of returns are also known as:

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Laws of substitution

Laws of consumption

Laws of cost

All of three

If income of government is more than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

Firm's cost depends upon:

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Revenue

Supply

Price

Output

If supply of a commodity changes by less than 10% due to a 10% change in its price, then elasticity of supply will be

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Equal to unity

More than unity

Less than unity

Zero

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