Question # 1

If total expenditure decrease with the rise in prices elasticity of demand will be:

Equal to unity

Less than unity

Greater than unity

Equal to zero

Personal income includes:

Direct taxes

Indirect taxes

Undivided profit

Both 2nd and 3rd

Reward the labour is:

Interest

Wages

Profit

Rent

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

When price falls supply:

Expands

Contracts

Remains zero

Becomes fixed

During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:

9.2percent

4.4percent

1.9percent

-3.6percent

NAT II Management Science Economy MCQs With Answers