Question # 1

If income of government is more than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

One of the following is not fiscal measure to control inflation

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Decrease in public expenditures

Increase in taxes

Encouragement of savings

Increase in investment

The sector of production, in which nature and human beings play an equal role, there is applicable

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Law of decreasing return

Law of decreasing cost

Law of increasing return

Law of constant return

Supply means

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total money of a specific producer

Number of buyers

quantity of goods offered for sale at different prices

purchasing power of quantity supplied

Founder of neo-classical school of thought:

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Adam Smith

Marshall

Robbins

Keynes

Slope of demand curve of exceptions of law of demand is

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Negative

Positive

Zero

Fixed

Note of 500 rupees is

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token money

credit money

convertible paper money

inconvertible paper money

Balance of payments is annual statistical record of

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Visible goods

Invisible goods

Foreign loans

Visible and invisible goods

Due to rise in demand, demand curve shifts to

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Right

Left

Both sides

None of these

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

By which money business dealing has become easy

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Metalic money

Paper money

Credit money

Near money

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Formula method to measure elasticity of supply is related to

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Marshall

Robbins

R.G.D Allen

Flux

Human wants are:

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Limited

Unlimited

Re-appear

Both (b) and (c)

Founder of modern school of thought:

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Adam smith

Marshall

Ricardo

Robbins

Supply of perishable goods e.g. groceries, fruit, meat etc is

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Less elastic

More elastic

Perfectly inelastic

Perfectly elastic

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