Question # 1

A market is said to be in equilibrium when:

Demand equals output

There is downward pressure on price

The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price

All buyers are able to find sellers willing to sell to them at the current price

In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:

190

221

350

475

For a firm buying labor competitively, the marginal input cost is equal to the:

Wage

Interest rate

Price of output

Cost of raw materials

The aggregate supply curve is the relationship between:

The price level and the real domestic output purchased

The price level and the real domestic output produced

The price level which producers are willing to accept and the price level purchasers are willing to pay.

The real domestic output purchased and the real domestic output produced.

Who presented the quantity theory of money:

Marshall

Robbins

Taussig

Keynes

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

16.6

21.7

26.2

30.8

NAT II Management Science Economy MCQs With Answers