| 1 |
One of the following is not the cause of inflation |
- A. Increase in quantity of money
- B. Increase in demand for goods
- C. Increase in supply of goods
- D. Increase in cost of production
|
| 2 |
As factor of production, river and sea are called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
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| 3 |
This paper notes which can be converted into gold, silver or foreign exchange are called |
- A. Standard money
- B. Unlimited legal tender money
- C. Convertible paper money
- D. Inconvertible paper money
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| 4 |
Inflation is useful for |
- A. Labourer
- B. Consumers
- C. Industrialist
- D. Pensioners
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| 5 |
The relation between quantity of money and price is: |
- A. Positive
- B. Negative
- C. Direct
- D. Inverse
|
| 6 |
"What performs the functions of money, is money"<br>This definition of money is stated by |
- A. Prof Walker
- B. Prof Marshall
- C. Prof Crowther
- D. Prof Pigou
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| 7 |
Which book is named "Bible of Capitalism" |
- A. Wealth of nations
- B. Das capital
- C. Principles of economics
- D. General theory of employment, interest and money
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| 8 |
The term "Price Taker" is used in: |
- A. Perfect competition
- B. Oliogopoly
- C. Monopoly
- D. Monopsony
|
| 9 |
When average cost is minimum, marginal cost is - - - - - - - - average cost |
- A. Less than
- B. More than
- C. Equal to
- D. None of three
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| 10 |
When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
- A. Zero
- B. Positive
- C. Negative
- D. Minimum
|