Question # 1

Firm earns abnormal profit, when

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AC=AR

AR>AC

AR<AC

AC=MC

Of what nature state laws are

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Local

Regional

National

International

Which one is comparatively the most important factor ?

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Land

Labour

Capital

Organization

Who did present unity method to measure elasticity of demand

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Adam Smith

Marshall

Robbins

keynes

A slight change in demand and price is called:

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Point Elasticity of demand

ArcElasticity of demand

CrossElasticity of demand

PriceElasticity of demand

The second name of law of increasing return is

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Law of cost

Law of increasing cost

Law of decreasing cost

Law of constant cost

Monopolist firm in the long run

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Always faces loss

Usually faces loss

Usually earns normal profit

Always earns abnormal profit

The rate change in total cost is:

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TR

MC

MR

TC

Which economist said that, economics cannot be separated from spiritual values?

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Marshall

Robbins

Adam smith

Voton

In which year international monetary fund was established:

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1941

1944

1945

1947

Demand curve of a monopolist has the shape

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Falls from left to right

Rises from left to right

Remains below MR curve

Remains parallel to ox-axis

The second name of law of decreasing return is

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Law of increasing cost

Law of constant cost

Law of decreasing cost

Law of cost

On which amount Zakat is payable

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Twenty thousand rupees

On the amount equal to the value of 7.5 tola gold or 52.5 tola silver

On fifty thousand rupees

On one lac rupees

During boom

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Business contracts

Unemployment increase

Profit decreases

Profit increases

According to whom economist, National income is the name of the total of production of goods and services

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Adam smith

Marshall

Fisher

Pigou

In case of fall in demand, demand curve shifts:

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Left side

Right side

Downward

Both (a) and (c)

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