Question # 1

Real GDP is equal to:

Nominal GDP - Inflation

Nominal GDP + Inflation

Nominal GDP / Inflation

Inflation / Nominal GDP

An increase in supply is shown by:

Shifting the supply curve to the left

Shifting the supply curve to the right

Upward movement along the supply curve

Downward movement along the supply curve

Who is responsible for profit and loss in the business:

Capitalist

Entrepreneur

Labour

Middleman

Ushr implies on:

Agricultural product

Industrial product

Agricultural & industrial product

None of these

The aggregate supply curve is the relationship between:

The price level and the real domestic output purchased

The price level and the real domestic output produced

The price level which producers are willing to accept and the price level purchasers are willing to pay.

The real domestic output purchased and the real domestic output produced.

What was the contribution of the services sector to the GNP in FY 2005-06.

9.2 percent

3.5 percent

8.8 percent

4.7 percent

NAT II Management Science Economy MCQs With Answers