Question # 1

In inflation prices:

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Increase

Do not change

Decrease

Become zero

Under the kinked demand curve model, an increase in marginal cost will lead to:

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An increase in output level and a decrease in price.

A decrease in output level and an increase in price.

A decrease in output level and no change in price.

Neither a change in output level our a change in price.

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

The other name of law of diminishing return is:

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Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

It is a Federal Tax:

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Excise duty

Local Tax

Property Tax

None

Due to devaluation exports become:

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Smaller

Larger

Cheaper

Expensive

Who is responsible for profit and loss in the business:

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Capitalist

Entrepreneur

Labour

Middleman

What was the number of buffaloes in 2005-06?

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12 million

28.4 million

34 million

40 million

For a study of the long term growth of the economy, we use:

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Real GNP

Nominal GNP

Personal income

Disposable personal income

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NAT II Management Science Economy MCQs With Answers

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