Question # 1

Quantity theory of money in the form of an equation was presented by

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Prof Fisher

Prof Taussig

Prof Marshall

Prof Renald

National income increases by

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The increase in the quantity of capital goods

The increase in the quantity of goods and services

The increase in price of goods

The increase in the income of entrepreneurs

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

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Land is a gift of nature

All the pieces of land are not equal infertility

Productive capacity of land is limited

Supply of land is unlimited

Cannon,. Pigou and Pareto belonged to school of thought

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Classical

Neo classical

Keynesian

None of these

Which is the Demand Curve of a frim

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Average Revenue Curve

Marginal Revenue Curve

Total Revenue Curve

Average cost curve

Unity method to measure elasticity of supply is presented by

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Adam Smith

Robbins

Marshall

Faruson

Inflation is created

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When demand for goods is less than their supply

When demand for goods is more than their supply

When demand for goods becomes equal to their supply

When demand and supply of goods do not change

Which is not studied in micro economics ?

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Theory of consumer behaviour

Price theory

Theory of money

Theory of distribution of wealth

When the price of a commodity increases but its demand does not change, this situation is called

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Constant demand

Fall of demand

Rise of demand

Contraction of demand

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

When total revenue is maximum, marginal revenue is

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More

Less

Constant

Zero

Movement on the same demand curve is called:

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Increase is demand

Rise and fall in demand

Decrease in demand

Expansions and contraction in demand

Inductive method represents:

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General to particular

Particular to general

Normative science

Economic planning

The costs which increase with the increase in output and decrease with the decrease in output, are called

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Variable costs

Fixed costs

Average costs

Marginal cost

Supply of goods depends on

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price

income

income and price

utility

If 50% change in supply in response to 50% change in price then:

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Es = 0

Es = 1

Es > 1

Es < 1

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