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201.

Essential attribute to wealth is

A.	utility	B.	scarcity
C.	transferability	D.	all of the above

202.

Budget is the major instrument of

A.	Fiscal policy	B.	Monetary policy
C.	Economic policty	D.	Export policy

203.

If the price index is 200, it means that the price level is

A.	200 percent higher than in the base year	B.	150 percent higher than in the base year
C.	100 percent higher than in the base year	D.	50 percent higher than in the base year

204.

Barter system can work successfully when

A.	people are fully educated	B.	society is developed
C.	wants are limited	D.	demand is equal to supply

205.

Devaluation affects imports by making it

A.	costher	B.	cheaper
C.	competitive	D.	prohibitive

206.

In case of paper money the face value is

A.	less than its intrinsic value	B.	more than its intrinsic value
C.	same as its intrinsic value

207.

As a result of heavy taxes on a commodity its supply

A.	increases	B.	decreases
C.	remains unaffected

208.

A monopolist can charge a high price only for those commodities which have

A.	elastic demand	B.	inelastic demand
C.	no demand

209.

When prices rise

A.	creditors benefit	B.	debtors benefit
C.	creditors as well as debtors benefit	D.	no one benefits

210.

Law of demand correlates

A.	quality and quantity	B.	quality and price
C.	quantity and price	D.	price and profit