Question # 1

Quantity theory of money in the form of an equation was presented by

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Prof Fisher

Prof Taussig

Prof Marshall

Prof Renald

Finance minister imposes tax on the goods having more elastic demand

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At low rate

At high rate

At the same rate

At zero rate

If every person pays tax according to his capacity, it is called

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Canon of certainly

Canon of equality

Canon of productivity

Canon of convenience

Which one is not included in macro economics

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National income

Employment

Price

Investment

Relationship between price and quantity demanded is called

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Demand schedule

Demand curve

Law of demand

Assumptions of law of demand

Tendency of demand curve of a factor of production is

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Positive

Negative

Zero

Horizontal

If the face value of a coin is equal to the value of metal used in:

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Legal money

Token money

Standard money

Both b and c

Marginal revenue product is the amount of money attained by selling

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Average product

Marginal product

Total product

None of these

One of the following is not advantage of international trade

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Provision of necessities of life

Imperfections of market

Provision of medicines & machinery

Provision of necessities of defence

Net National product is equal to

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GNP + Depreciation expenditure

GDP + Depreciation expenditure

GNP - Depreciation expenditure

GDP - Depreciation expenditure

Economic problem arises because human wants

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Are unlimited

Are limited

Do not exists

None of three

If the demand for a commodity is less elastic, then an entrepreneur in order to increase his profit

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Will increase its price

Will decrease its price

Will not change its price

None of these

In which year Kenyens wrote his book "General theory of employment, interest and money

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1929

1931

1934

1936

One of the following is invisible item of balance of payment

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Import of motor cars

Exports of cotton

Expenditure of passengers traveling by air

Private investment in foreign country

Balance of visible goods of a country mean

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Quantity of imports & exports

Value of imports & exports

Value of imported & exported goods and services

Value of imported & exported services

Production of the last unit of a factor of production is called

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Total product

Average product

Marginal product

Positive product

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