Question # 1

When marginal utility is zero, then total utility is

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Minimum

Positive

Maximum

Zero

Phases of trade cycle are:

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Three

Four

Five

Six

One of the following is not advantage of paper money

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Saving of metals

Saving of coinage

Easy transferability

Perfectly inelastic supply

Exact perdition not possible in:

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Economic laws

Science laws

Moral laws

Social law

The ratio of change in investment to change in income is known as:

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Multiplier

Accelerator

MEC

Both a and b

Self owned resources are known as:

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Implicit cost

Explicit cost

Opportunity cost

Sunk cost

"General theory of employment, interest and money" was written by:

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Robbins

Pigou

Keynes

Canon

Quantity theory of money was introduced in an equation by:

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Fisher

Marshall

Crowther

Tausigg

One of the following is not the method to control deflation

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Decrease in public expenditures

Decrease in interest rate

Decrease in income tax

increase in exports

Expenditures of repair of machines are called

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Unproductive expenditures

Productive expenditures

Rewards

Depreciation allowance

Measurement of arc elasticity of demand was present:

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Keynes

Marshall

Adam smith

R.G.D Allen

Which characteristic is not found in economic laws

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Not quantitative

Cannot be predicted

No punishment in case of going against law

Definite and universal

Meaning of Economics:

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State management

Trade management

Household management

All of them

Payment of zakat is compulsory for ----------- living in Islamic Country

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Every person

Every Muslim

Only Poor Muslim

Only Sahib-e-Nisab Muslim

The whom individuals Marshal included in definition of economics

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Service of teachers

People living in forests

Trading professionals

People living in caves

On which of the following law of diminishing marginal utility is applicable

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Money and wealth

Diamonds and jewels

Goods of fashion

Necessities of life

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