Question # 1

During a year aggregate value of produced goods and services of a country is called:

Per-capita income

Net national income

Personal income

Gross national product

The methods of measuring elasticity of supply are:

Three

Two

Four

Five

Rent of building is included in:

Fixed cost

Variable cost

Marginal cost

Selling cost

The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

5Q

5

5 + (200/Q)

200

National income does not include:

Profit

Wages

Interest

Transfer payments

NAT II Management Science Economy MCQs With Answers