NAT II Management Science Economy MCQs With Answers

Question # 1

During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:

Choose an answer

3.5 million tones

4.2 million tones

5.2 million tones

6.7 million tones

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Question # 2

If total expenditure decrease with the rise in prices elasticity of demand will be:

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Equal to unity

Less than unity

Greater than unity

Equal to zero

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Question # 3

If we compare Gross Domestic Product (GDP) with Gross National

1. Product (GNP) then:

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GNP = GDP - Net income from abroad

GNP = GDP + Net income from abroad

GNP = NNP - Net income from abroad

GNP = NNP + Net income from abroad

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Question # 4

In inflation prices:

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Increase

Do not change

Decrease

Become zero

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Question # 5

In 2005-06, the crop area of cotton was 3,096 thousand hectares and the crop area of rice was:

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2,620

982

8,303

4,702

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Question # 6

The aggregate supply curve is the relationship between:

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The price level and the real domestic output purchased

The price level and the real domestic output produced

The price level which producers are willing to accept and the price level purchasers are willing to pay.

The real domestic output purchased and the real domestic output produced.

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