Question # 1

Macro Economics was introduced by

Alfred Marshall

J.M. Keynes

N.W. Senior

J.B. Clark

Personal income includes:

Direct taxes

Indirect taxes

Undivided profit

Both 2nd and 3rd

Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?

Indonesia

Malaysia

Vietnam

Thailand

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

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

The elasticity of demand of durable goods is

More than unity

Equal to unity

Less than unity

Zero

NAT II Management Science Economy MCQs With Answers