Question # 1

It is a Federal Tax:

Excise duty

Local Tax

Property Tax

None

Income elasticity show the relationship between:

Income and demand

Income and consumption

Income and price

Income and saving

What was the contribution of the services sector to the GNP in FY 2005-06.

9.2 percent

3.5 percent

8.8 percent

4.7 percent

A nation's balance of payments can be affected by changes in:

Foreign income

The differential between domestic and foreign interst rates

The real exchange rate

All of the given options

Who described Economies as a science of wealth:

Piguo

Adam Smith

Robbins

Marshall

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

NAT II Management Science Economy MCQs With Answers