Online Test Information

Question # 1

The quality of a commodity which satisfies the human wants:

Usefulness A
Loss B
Utility C
Return D

Question # 2

The other name of law of decreasing return is:

Law of decreasing cost A
Law of increasing cost B
Law of constant cost C
Law of increasing returns D

Question # 3

The methods of measuring elasticity of supply are:

Three A
Two B
Four C
Five D

Question # 4

Canons of taxation describes

Marshall A
Keynes B
Robbins C
Adam Smith D

Question # 5

National income period is

One year A
Three years B
Two years C
Four years D

Question # 6

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

Directly A
Off and On B
Indirectly C
Never D

Question # 7

The unity method of elasticity of demand was presented by:

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

Question # 8

The quality of a good which satisfies a human want is called as:

Service A
Cost B
Utility C
None D

Question # 9

Average revenue is equal to:

Price A
Marginal revenue B
Total revenue C
Average cost D

Question # 10

International trade has the benefits:

One A
Unlimited B
Two C
Three D

Question # 11

What remains after deduction of direct taxes from the personal incom:

NNI A
DPI B
NDI C
GNP D

Question # 12

Inflation will be useful for:

Labourers A
Industrialist B
Consumers C
Pensioners D

Question # 13

National income does not include:

Profit A
Wages B
Interest C
Transfer payments D

Question # 14

Who is responsible for profit and loss in the business:

Capitalist A
Entrepreneur B
Labour C
Middleman D

Question # 15

Which Economists presented the law of diminishing marginal utility:

Robbins A
Malthus B
Adam Smith C
Marshall D

Question # 16

Inflation on prices:

Decrease A
Remains constant B
Increase C
Become zero D

Question # 17

Macro Economics was introduced by:

Alfred Marshall A
J.M.Keynes B
N.W Senior C
J.B.Clark D

Question # 18

The shape of AR and MR under perfect competition is:

Vertical A
U-shape B
Horizontal to ox-axis C
None of these D

Question # 19

The elasticity of demand of durable goods is:

Zero A
More than unity B
Less than unity C
Equal to unity D

Question # 20

The economy gets prosperity during:

Recession A
Boom B
Depression C
Recovery D

Sr.#	Question	Answer
1	The unity method of elasticity of demand was presented by:	A. Adam Smith B. Marshall C. J.R Hicks D. Pigeou
2	The elasticity of demand of durable good is:	A. More than unity B. Equal to unity C. Less than unity D. Zero
3	Inflation will be useful for:	A. Labourers B. Industrialist C. Consumers D. Pensioners
4	According to law of diminishing marginal utility the marginal utility:	A. Increases B. Remains constant C. Diminishes D. Negative
5	National income period is	A. One year B. Three years C. Two years D. Four years
6	What is deducted from GNP to find GDP.	A. Depreciation allowance B. Net income received from abroad C. Indirect tax D. Transfer payments
7	The supply of perishable goods is:	A. Fixed B. Variable C. Minor change D. Zero
8	Which Economists presented the law of diminishing marginal utility:	A. Robbins B. Malthus C. Adam Smith D. Marshall
9	Rent of building is included in:	A. Fixed cost B. Variable cost C. Marginal cost D. Selling cost
10	The economy gets maximum prosperity during:	A. Recession B. Recovery C. Boom D. Depression

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