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Online Tests
Principles of Economics Icom Part 1 English Medium Online Test MCQs With Answers
Question # 1
What remains after the deduction of direct tax from the personal income
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NNP
NNI
DPI
GNP
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Question # 2
Total utility is maximum when marginal utility is
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Positive
Negative
Zero
Minimum
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Question # 3
Which factor can not be stored
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Land
Labour
Capital
Organization
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Question # 4
How many conditions of firm's equilibrium are there ?
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One
Two
Three
Four
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Question # 5
Under increasing return, the slope of marginal product curve is
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Positive
Negative
Infinite
Zero
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Question # 6
Methods to derive economic laws:
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One
Two
Three
Four
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Question # 7
When total production increases, marginal product is:
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Positive
Negative
Zero
Infinite
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Question # 8
Over investment and over saving theory was given by:
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Joseph Schumpeter
Habson Foster
Jevons
Hawtray
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Question # 9
In which year international monetary fund was established
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1941
1944
1945
1947
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Question # 10
Demand for necessities of life is
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Les elastic
More elastic
Perfectly elastic
Perfectly inelastic
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Question # 11
The most appropriate definition of money was given by:
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F.A.Walker
Keynes
Pigou
Crowther
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Question # 12
If the income and expenditures of the government are equal, such budget is called
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Surplus budget
Deficit budget
Balanced budget
Capital budget
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Question # 13
When was professor Robbins book "Nature and importance of economics" written
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1915
1932
1934
1937
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Question # 14
Which one is immobile factor ?
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Land
Labour
Capital
Organization
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Question # 15
Equilibrium means
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the condition that is not possible
an unstable condition
a condition that can change
stable position
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Question # 16
If two goods are complimentary, cross Elasticity of demand will be:
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Zero
Infinite
Positive
Negative
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