Question # 1

If pen and ink are complements, then an increase in the price of pen will cause:

An increase in the price of ink

Less ink to the demanded at each price

A decrease in the demand for pen

A rightward shift in the demand curve for ink

An increase in supply is shown by:

Shifting the supply curve to the left

Shifting the supply curve to the right

Upward movement along the supply curve

Downward movement along the supply curve

Which of the following is TRUE for a Giffen good?

Its marginal utility is zero

Its demand curve is perfectly elastic

Its substitution effect is positive

Its demand curve is positively sloped

Who presented the quantity theory of money:

Marshall

Robbins

Taussig

Keynes

What was the production of cotton in 2005-06?

12.4million bales

16.2 millionbales

18.8 million bales

24.1 million bales

Which economist presented the Cardinal Theory of Utility:

Marshall

Canon

Kroose

J.B. Say

NAT II Management Science Economy MCQs With Answers