Question # 1

Which economist presented the Cardinal Theory of Utility:

Marshall

Canon

Kroose

J.B. Say

Rent of building is included in:

Fixed cost

Variable cost

Marginal cost

Selling cost

What was the production of cotton in 2005-06?

12.4million bales

16.2 millionbales

18.8 million bales

24.1 million bales

Real GDP is equal to:

Nominal GDP - Inflation

Nominal GDP + Inflation

Nominal GDP / Inflation

Inflation / Nominal GDP

The quality of a commodity which satisfies the human wants:

Usefulness

Loss

Utility

Return

A monopolistically competitive firm in the long run equilibrium:

Will make negative profit.

Will make zero profit.

Will make positive profit

Any of the given are possible.

NAT II Management Science Economy MCQs With Answers