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Time: 20 Minutes Marks: 15 Section: "A" (Multiple Choice Questions) Q1: Choose The Correct Option From Each of The Given Statement

This document contains an economics preliminary examination from 2015. It consists of 15 multiple choice questions testing various economic concepts. The exam is divided into Section A, with 20 minutes allotted and 15 marks available. Concepts addressed include elasticity of demand, the quantity theory of money, costs, fiscal policy, business cycles, transfer payments, supply and demand, money, and macroeconomic topics like income and employment.

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Safi Sweet
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39 views

Time: 20 Minutes Marks: 15 Section: "A" (Multiple Choice Questions) Q1: Choose The Correct Option From Each of The Given Statement

This document contains an economics preliminary examination from 2015. It consists of 15 multiple choice questions testing various economic concepts. The exam is divided into Section A, with 20 minutes allotted and 15 marks available. Concepts addressed include elasticity of demand, the quantity theory of money, costs, fiscal policy, business cycles, transfer payments, supply and demand, money, and macroeconomic topics like income and employment.

Uploaded by

Safi Sweet
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ECONOMICS (X1)

Preliminary Examination 2015

Time: 20 minutes
marks : 15
SECTION: A (MULTIPLE CHOICE QUESTIONS)
Q1: choose the correct option from each of the given statement:

1. If the point is located mid of demand curve then elasticity of demand will be:
A. Unit
B. Less than unit
C. More than unit
D. Unlimited
2. The equation P

3.

4.

5.

6.

7.

8.

MV + M ' V '
T

is given by:

A. David Ricardo
B. Irving Fisher
C. Lionel Robbins
D. Alfred Marshall
Salary of permanent staff is a part of:
A. Fixed cost
B. Variable cost
C. Marginal cost
D. None of these
The short run average cost curve is:
A. L shaped
B. U shaped
C. Bowl shaped
D. Vertical
In disposable income this tax is not included:
A. Indirect
B. Direct
C. Progressive
D. Proportionate
Fiscal policy means:
A. Industrial policy
B. Agriculture policy
C. Government revenue and expenditure policy
D. Commercial policy
The boom phase of trade cycle also known as:
A. Crises
B. Prosperity
C. Improvement
D. Recovery
Reward without any service is termed as:

A. Wages
B. Interest
C. Transfer payments
D. None of these
9. The marginal productivity theory was presented by:
A. Keynes
B. Marshall
C. Recardo
D. Robbins
10.Change in supply due to rise in price is termed as:
A. Contraction of supply
B. Fall in supply
C. Expansion of supply
D. None of these
11.Face value is equal to its intrinsic value in:
A. Token money
B. Credit money
C. Paper money
D. Standard money
12.A cost which a firm pays to produce an additional unit is termed as:
A. Total cost
B. Variable cost
C. Fixed cost
D. Marginal cost
13.Macroeconomics is also known as:
A. Theory of income and employment
B. Price theory
C. Game theory
D. All of these
14.Homogenous products are sold under:
A. Monopoly
B. Perfect competition
C. Oligopoly
D. Duopoly
15.Balance of payment includes:
A. Physical goods
B. Non physical goods
C. Both of these
D. None of these

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