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NAT I General Science Economics MCQs With Answers
Question # 1
Reward for labour is:
Choose an answer
Interest
Wages
Profit
Rent
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Question # 2
Consumer goods are those goods which are used by a man:
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Directly
Off and On
Indirectly
Never
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Question # 3
Inflation on prices:
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Decrease
Remains constant
Increase
Become zero
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Question # 4
National income does not include:
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Profit
Wages
Interest
Transfer payments
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Question # 5
The unity method of elasticity of demand was presented by:
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Adam Smith
Marshall
J.R Hicks
Pigeou
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Question # 6
Which Economists presented the law of diminishing marginal utility:
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Robbins
Malthus
Adam Smith
Marshall
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Question # 7
In monopoly the number of firms is:
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One
Three
Two
Unlimited
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Question # 8
The elasticity of demand of durable good is:
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More than unity
Equal to unity
Less than unity
Zero
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Question # 9
Due to devaluation exports become:
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Smaller
Larger
Cheaper
Expensive
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Question # 10
According to law of diminishing marginal utility the marginal utility:
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Increases
Remains constant
Diminishes
Negative
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Question # 11
Marginal cost curve always intersects average cost curve at:
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The maximum point
The central point
The minimum point
The vertical point
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