Top 550+ Solved Economics (GK) MCQ Questions Answer

a. an increase in national income in real terms

b. an increase in national income at constant prices

c. an increase in money national income

d. an increase in national income at base year prices

a. Income which is not produced by any production process

b. Income taken away from one person and given over to another

c. Unearned income

d. Earned income

a. GNP at Factor Cost

b. GNP at Market Price

c. (3) NNP at Factor Cost

d. (4) NNP at Market Price

a. A Musician performing for a benefit fund

b. A Painter working for his own pleasure

c. Reading a book as a hobby

d. A Mother teaching her own son

a. sale of goods

b. production of goods

c. import of goods

d. export of goods

a. the revenue per unit of commodity sold

b. the revenue from all commodities sold

c. the profit realised from the marginal unit sold

d. the profit realised by sale of all commodities

a. Payment made for the use of labour

b. Payment made for the use of capital

c. Payment made for the use of organisation

d. Payment made for the use of land

a. Keynes

b. Marshall

c. Haberler

d. Ohlin

a. unit price of the commodity

b. income of the consutner

c. tastes of the consumer

d. climate of the region

a. Land has original and indestructible power

b. Land is a man made factor

c. Its supply is inelastic in the short run

d. Its supply is inelastic in the long run

a. J.M. Keynes

b. Malthus

c. Ricardo

d. Adam Smith

a. relatively elastic

b. perfectly inelastic

c. perfectly elastic

d. of unitary elasticity

a. Joan Robinson

b. Edward Chamberlin

c. John Bates Clark

d. Joseph Schumpeter

a. Pure profit

b. Gross profit

c. Net profit

d. Super-normal profit

a. Perfectly elastic

b. Relatively elastic

c. Perfectly inelastic

d. Relatively inelastic