Question # 1

In 2005-06 the growth rate of Saudi Arabia was 6.5 percent, Kuwait 8.5 percent and Bangladesh 5.8 percent. What was the growth rate of Iran?

4.2 percent

3.1 percent

6.7 percent

5.9 percent

National income does not include:

Profit

Wages

Interest

Transfer payments

Income elasticity show the relationship between:

Income and demand

Income and consumption

Income and price

Income and saving

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

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

Real GNP

Nominal GNP

Personal income

Disposable personal income

Who is the writer of Wealth of Nation?

Marshall

Adam Smith

Robbins

Keynes

NAT II Management Science Economy MCQs With Answers