Solved MCQS of Economics Set 1

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Solved MCQS of Economics
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Who presented the quantity theory of money:
Robbins
Taussig
Marshall
Keynes

What was the share of the major crops of value added in agriculture in 2005-06?
24.2percent
39.1percent
35.2percent
45percent

As compared to existing firms, a new firm entering in monopolist market has:
None of the given options
High costs
Low costs
Equal costs

In the FY 2005-06 the GDP growth rate of Euro area was 1.3 percent, the developing nations 8.6 percent and the world was:
4.5 percent
5.5 percent
4.8 percent
3.5 percent

In 2005-06, the percentage of total investment to GDP was:
10percent
20percent
15percent
8 percent

Average revenue is equal to:
Price
Average cost
Marginal revenue
Total revenue

Which Economists presented the law of diminishing marginal utility:
Adam Smith
Robbins
Malthus
Marshall

Reward for capital is called:
Interest
Wages
Rent
Profit

Inflation will be useful for:
Industrialist
Pensioners
Consumers
Labourers

The methods of measuring elasticity of supply are:
Five
Three
Two
Four

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