Online Test Information

Question # 1

Rent of building is included in:

Fixed cost A
Variable cost B
Marginal cost C
Selling cost D

Question # 2

Factors of production are:

One A
Three B
Two C
Four D

Question # 3

How many methods can be used for cultivation

One A
Two B
Three C
Four D

Question # 4

In monopoly the number of firms is:

One A
Three B
Two C
Unlimited D

Question # 5

Average revenue is equal to:

Price A
Marginal revenue B
Total revenue C
Average cost D

Question # 6

Canons of taxation describes

Marshall A
Keynes B
Robbins C
Adam Smith D

Question # 7

Who described Economics as a scienece of wealth:

Piguo A
Adam Smith B
Robbins C
Marshall D

Question # 8

Who presented the quantity theory of money:

Marshall A
Robbins B
Taussig C
Keynes D

Question # 9

The economy gets prosperity during:

Recession A
Boom B
Depression C
Recovery D

Question # 10

Personal income includes:

Direct taxes A
Indirect taxes B
Undivided profit C
Both 2^nd and 3^rd D

Question # 11

The supply of perishable goods is:

Fixed A
Variable B
Minor change C
Zero D

Question # 12

Which Economists presented the law of diminishing marginal utility:

Robbins A
Malthus B
Adam Smith C
Marshall D

Question # 13

Which economist presented the Cardinal Theory of Utility:

Marshall A
Canon B
Kroose C
J.B Say D

Question # 14

What is deducted from GNP to find GDP.

Depreciation allowance A
Net income received from abroad B
Indirect tax C
Transfer payments D

Question # 15

The economy gets maximum prosperity during:

Recession A
Recovery B
Boom C
Depression D

Question # 16

Who is responsible for profit and loss in the business:

Capitalist A
Entrepreneur B
Labour C
Middleman D

Question # 17

The unity method of elasticity of demand was presented by:

Adam Smith A
Marshall B
J.R Hicks C
Pigeou D

Question # 18

During a year aggregate value of produced goods and services of a country is called:

Per-capita income A
Net national income B
Personal income C
Gross national product D

Question # 19

According to law of increasing return marginal product:

Increases A
Decreases B
Remains constant C
None of these D

Question # 20

Consumer goods are those goods which are used by a man:

Directly A
Off and On B
Indirectly C
Never D

Sr.#	Question	Answer
1	Who is the writer of Wealth of Nation?	A. Marshall B. Adam Smith C. Robbins D. Keynes
2	Personal income includes:	A. Direct taxes B. Indirect taxes C. Undivided profit D. Both 2^nd and 3^rd
3	The unity method of elasticity of demand was presented by:	A. Adam Smith B. Marshall C. J.R Hicks D. Pigeou
4	Reward for labour is:	A. Interest B. Wages C. Profit D. Rent
5	International trade has the benefits	A. One B. Three C. Two D. Unlimited
6	Due to devaluation exports become:	A. Smaller B. Larger C. Cheaper D. Expensive
7	The shape of AR and MR under perfect competition is:	A. Vertical B. U-shape C. Horizontal to ox-axis D. None of these
8	Inflation on prices:	A. Decrease B. Remains constant C. Increase D. Become zero
9	What remains after deduction of direct taxes from the personal incom:	A. NNI B. DPI C. NDI D. GNP
10	What is deducted from GNP to find GDP.	A. Depreciation allowance B. Net income received from abroad C. Indirect tax D. Transfer payments

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