Question # 1

Give the share of commodity producing the sector in the GNP in 2005-06?

2.5 percent

4.3percent

3.8percent

7.2percent

Which of the following is true about supply curve under monopoly?

It is same as the competitive market supply curve

It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs

It is the result of market power and production costs

None of the given statements is true

The quality of a good which satisfies a human want is called as:

Service

Cost

Utility

None

The share of agriculture in the national economy in 2005-06, was:

21.6percent

16.2percent

12.8percent`

13.4percent

For a study of the long term growth of the economy, we use:

Real GNP

Nominal GNP

Personal income

Disposable personal income

National income does not include:

Profit

Wages

Interest

Transfer payments

NAT II Management Science Economy MCQs With Answers