Question # 1

Free gift of nature is

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Land

Labour

Capital

Organization

How many conditions of firm's equilibrium are there ?

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One

Two

Three

Four

Which factor can not be stored

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Land

Labour

Capital

Organization

In Macro economies the vital role is played by:

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Marshall

J.R.Hicks

Robbins

Keynes

Long run average cost curve is:

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Planning curve

Envelope curve

Flatter curve

All of three

Economy gets prosperity during

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Recession

Depression

Boom

Recovery

Which economist introduced economics as a science for the first time

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Adam Smith

Robbins

Marshall

Pigou

Depreciation means:

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Wear and Tear

Reduction in value

Decrease in value

All of these

Branches of public finance are

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Two

Three

Four

Five

One rupee note in paper money is

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Inconvertible paper money

Convertible paper money

Limited legal tender money

Unlimited legal tender money

In perfect competition the average revenue curve is

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Vertical

Horizontal

Rising

Declining

Marginal productivity theory was presented by:

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Pigou and Cannon

Adam Smith and F.A. Walker

Keynes and Semeulson

Marshall and J.B. Clark

When general price level increases due to increase in aggregate demand, it is known as?

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Stagflation

Hyper inflation

Demand pull inflation

Cost push inflation

Laws cannot be predicted

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Scientific laws

Moral laws

Economic laws

Natural laws

Equilibrium means

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the condition that is not possible

an unstable condition

a condition that can change

stable position

A firm suffers abnormal losse, when:

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AC = AR

AVC = AR

AVC < AR

AVC > AR

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