Question # 1

One of the following is not included in the branches of public finance

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Public revenue

Welfare of the people

Public expenditure

Public debt

Who said that economics is science of wealth

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Adam smith

Robbins

Marshall

Pigou

One of the following is not included in the characteristics of labour

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Labour and labourer cannot be separated

Labour can be stored

Labour has limited mobility

Supply of labour is inelastic

Adam Smith belongs to:

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Poland

Scotland

Ireland

Holland

Who said that economics has the place of intellectual religion

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Cannon

Pigou

Durban

Robbins

If two goods are substitute, cross Elasticity of demand will be:

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Zero

Infinite

Positive

Negative

Supply of perishable goods is

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More elastic

less elastic

Perfectly inelastic

infinite elasticity of supply

Self owned resources are known as:

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Implicit cost

Explicit cost

Opportunity cost

Sunk cost

A big change in demand and price is called:

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PointElasticity of demand

ArcElasticity of demand

CrossElasticity of demand

PriceElasticity of demand

There exists a relationship between inflation and deflation

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Increasing

Inverse

Indirect

None of three

"A trade cycle is completed in three years four months" This is stated by

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Prof Kitchen

Prof Jugglar

Prof Jevons

Prof Pigou

Balance of payment of a country is favourable when its

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Receipts are more than payments

Receipts are less than payments

Receipts are equal to payments

None of three

When no satisfaction is attained by the consumption of a commodity, its marginal utility is

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Zero

Positive

Negative

Minimum

Which one factor is free gift of nature ?

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Land

Labour

Capital

Organization

Individuals of a country produce a certain quantity of goods and services using the resources of the country with the help of their capital, it is called national income this definition is presented by

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Professor Marshall

Professor Paul A Samuelson

Professor Fisher

Professor Pigou

The money whose face value and intrinsic value are equal, is called

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Token money

Standard money

Paper money

Credit money

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