Question # 1

Which of the following will be TRUE if real income rose and the interest rate fell following an increase in government purchases?

IS curve must be vertical

LM curve must be vertical

Central Bank must have increased the money supply at the same time

Central Bank must have decreased the money supply at the same time

The price elasticity of demand measures the responsiveness of quantity demanded to:

Quantity demanded

Quantity supplied

Price

Output

In 2005-06 total production of fish inland and marine in Pakistan was:

5,81,000 tons

6,72,000 tons

7,44,000 tons

8,33,000 tons

Who wrote "The Nature and Significance of Economics":

Adam Smith

Marshall

Robbins

Keynes

Who criticized Prof. Robbin's definition?

Marshall, J.B

Beveridge

Clark

Pigeou

Who is responsible for profit and loss in the business:

Capitalist

Entrepreneur

Labour

Middleman

NAT II Management Science Economy MCQs With Answers