Question # 1

Real GDP is equal to:

Nominal GDP - Inflation

Nominal GDP + Inflation

Nominal GDP / Inflation

Inflation / Nominal GDP

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

Consumer goods are those goods which are used by a man:

Directly

Off and On

Indirectly

Never

According to law of increasing return, marginal product:

Increases

Decreases

Remains constant

None of these

Who wrote "The Nature and Significance of Economics":

Adam Smith

Marshall

Robbins

Keynes

The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

5Q

5

5 + (200/Q)

200

NAT II Management Science Economy MCQs With Answers