Question # 1

The quantity of commodity which exists in warehouse (stock) of the seller is called

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Supply

Demand

Stock

All of these

Wages of permanent labourers are:

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Fixed cost

Marginal cost

Total cost

Variable cost

Phases of trade cycle are:

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Three

Four

Five

Six

River, sea, forests, rain are called

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Land

Labour

Capital

Organization

Cheque is which kind of money:

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Credit money

Paper money

Standard money

Legal money

Are included in welfare economist

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Ricardo and J.S. Mill

Robbins and Keynes

Cannon and Pigou

Malthus and Keynes

A good thing in public finance

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Expenditures are more than income

Income is more than expenditure

Income is equal to expenditure

b and c both

If the most part of total supply of commodity is produced by one firm, it is called

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Oligopoly

Monopoly

Perfect competition

Monopolistic competition

According to classical theory of international trade, a country imports those goods from the other country which

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Are durable

Are standardised

Are produced comparatively at high cost

Are not produced in that country

If 30% change in supply in response to 50% change in price then:

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Es = 0

Es = 1

Es > 1

Es < 1

A firm suffers abnormal losse, when:

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AC = AR

AVC = AR

AVC < AR

AVC > AR

The record of visible and invisible items on international account is called

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Balance of payment

Balance of trade

Balance of budget

Capital account

Prof Fisher presented quantity theory of money in the form of an equation in

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1905

1911

1915

1917

During recession demand for factors of production is

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More

Limited

Very low

Too much

If supply increase due to increase in price, it is called

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Extension of supply

Contraction of supply

Rise of supply

Fall of supply

Transfer payment means:

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Rent transfer

Wages transfer

Reward without services

Profit transfer

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