Question # 1

When price falls supply:

Expands

Contracts

Remains zero

Becomes fixed

Due to devaluation exports become:

Smaller

Larger

Cheaper

Expensive

What was the production of wheat in million tones during 2005-06?

16.6

21.7

26.2

30.8

What was the difficulty in the barter System:

Excess of goods

Difference language

Lack of co-incidence

Difference in profession

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

Real GNP

Nominal GNP

Personal income

Disposable personal income

National income does not include:

Profit

Wages

Interest

Transfer payments

NAT II Management Science Economy MCQs With Answers