Question # 1

Due to rise in demand, demand curve shifts to

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Right

Left

Both sides

None of these

Equilibrium of national income is, when

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S > 1

S = 1

S < 1

S and 1

Who said that economics is science of wealth

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Adam smith

Robbins

Marshall

Pigou

"Money is what money does" is the statements of:

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Robbins

Marshall

Hicks

Keynes

One of the following is not the cause of inflation

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Increase in quantity of money

Increase in demand for goods

Increase in supply of goods

Increase in cost of production

When was professor Robbins book "Nature and importance of economics" written

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1915

1932

1934

1937

Disposable personal income means

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Total of incomes

Income of an industry after fulfilling all the needs

After paying personal taxes, income of the people who provide factors of production

Save income of a person after the payment of the taxes

Which is considered as a transfer payment

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wages

salaries

prices

unemployment allowances

Elasticity of demand for luxuries is

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Equal to unity

More than unity

Less than unity

Zero

If currency can converted into gold, it is called:

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Convertible paper money

Inconvertible paper money

Bank Money

Both a and b

Which one of the following is included in balance of trade

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Visible goods

Invisible goods

Visible & invisible goods

All the three

Economist who presented the first law of consumption

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Marshall

Adam smith

Robbins

Pigou

Finance minister in order to increase the public revenue imposes the tax on the commodities whose demand is more elastic

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At low rate

At high rate

Some times decreases the rate and some times increases

Does not change Tax rate

Which one is not studied in micro economic

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National income

Consumer behavior

Market equilibrium

Firm's equilibrium

According to classical economics, production process is under laws

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Two

Three

Four

Five

The term "inflation" means:

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Rapid increase in price level

Decrease in price level

General increase in price level

Both a and c

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