Question # 1

Cannot be separated from labourer

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Land

Labour

Capital

Organization

Initial utility is ______ individual utilities of all the units

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More than

Less than

Equal to

None of these

In macro economics, what kind of problems can be discussed

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International trade

Consumers behavior

Problems of a firm

Determination of price

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

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

One of the following is not included in the methods of removing deficit in balance of payments of a country

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Increase in exports

Increase in imports

Devaluation of currency

Decrease in the quantity of money

If face value is equal to the metal value of a coin, it is called as

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Paper money

Token money

Credit money

Standard money

Balance of visible goods of a country mean

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Quantity of imports & exports

Value of imports & exports

Value of imported & exported goods and services

Value of imported & exported services

Reward of Land is called.

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Rent

Wage

Interest

Profit

A monopolist controls the supply

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Totally

Partially

More

Not at all

Quantity theory of money was introduced in an equation by:

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Fisher

Marshall

Crowther

Tausigg

Which economist said that abundance of definitions has pressed the neck of economics

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Adam Smith

Robbins

Keynes

Pigou

Average revenue is equal to

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Price

Total revenue

Marginal revenue

Average cost

Government estimates its income and expenditures

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Monthly

Three monthly

Six monthly

Annual

The cause of extension and contraction of demand is

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Income

Price

Population

Technology

Slope of marginal utility curve is

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Positive

Negative

Vertical

Horizontal

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Principles of Economics Icom Part 1 English Medium Online Test MCQs With Answers

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