Question # 1

Income elasticity show the relationship between:

Income and demand

Income and consumption

Income and price

Income and saving

Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?

A.W. Phillips

John Maynard Keynes

Joseph Schumpeter

Milton Friedman

Name the water project to be completed in April 2009:

Gomal Zam Dam

Rainee Canal

Kachhi Canal

Mirani Dam

In monopoly, which of the following is NOT true?

Products are differentiated

There is freedom of entry and exit into the industry in the long run

The firm is a price maker

There is one main seller

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

Sales tax

Excise tax

Corporate income tax

Personal income tax

The quality of a good which satisfies a human want is called as:

Service

Cost

Utility

None

NAT II Management Science Economy MCQs With Answers