Question # 1

According to which economist, duration of a trade cycle is 9 to 10 years

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Prof Kitchen

Prof Jugglar

Prof Pigou

Prof Kondratieff

This paper notes which can be converted into gold, silver or foreign exchange are called

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Standard money

Unlimited legal tender money

Convertible paper money

Inconvertible paper money

What is the reward of Organization ?

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Rent

Wage

Interest

Profit

Because of devaluation of currency of a country, its exports

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Decrease

Increase

Remains constant

Go on changing

In short average cost curve is:

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Saucer shaped

Negative slope

U shaped

Flatter

Kinds of public expenditures are

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Two

Three

Four

Five

In which phase of Frade cycle level of employment and income becomes very low.

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Depression

Recovery

Recession

Boom

Expenses of wears and tears of machinery are called

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Productive expenses

Non productive expenses

Wages

Depreciation expenses

Economics studies human behaviour from

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Individual angle

Collective angle

Individual & Collective angle

None

The supply curve of Fish is

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More elastic

Less elastic

Inelastic

Infinite elastic

A system where the goods are exchange with goods is known as:

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Monetary system

Barter System

Coins system

Goods system

In the short period, fixed cost curve has the tendency

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Parallel to ox-axis

Parallel to oy-axis

Positive

Negative

Disposable personal income is equal to

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Personal income + direct taxes

Personal income + indirect taxes

Personal income + direct and indirect taxes

Personal income - direct taxes

When average product decreases, marginal product

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Increases

Is zero

Is equal to average product

Is less than average product

"General theory of employment, interest and money" was written by:

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Robbins

Pigou

Keynes

Canon

In perfect competition the average revenue curve is

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Vertical

Horizontal

Rising

Declining

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

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