Question # 1

Which Economists presented the law of diminishing marginal utility:

Robbins

Malthus

Adam Smith

Marshall

A tax on the accounting profits of corporations is known as:

Sales tax

Excise tax

Corporate income tax

Personal income tax

Double counting in national income refers to:

Counting a product more than once

Counting a product at the final stage of output process

Counting both as product and as factor payment

Counting both as real goods and as money flow

The interest rate parity is the basic identity that relates which of the following?

Interest rates and exchange rates

Interest rates and inflation rate

Exchange rates and inflation rate

Discount rate and inflation rate

If pen and ink are complements, then an increase in the price of pen will cause:

An increase in the price of ink

Less ink to the demanded at each price

A decrease in the demand for pen

A rightward shift in the demand curve for ink

Who is the writer of Wealth of Nation?

Marshall

Adam Smith

Robbins

Keynes

NAT II Management Science Economy MCQs With Answers