Question # 1

The price elasticity of demand measures the responsiveness of quantity demanded to:

Quantity demanded

Quantity supplied

Price

Output

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

Real GNP

Nominal GNP

Personal income

Disposable personal income

In 2005-06, the percentage of total investment to GDP was:

8 percent

10percent

15percent

20percent

What was the contribution of the services sector to the GNP in FY 2005-06.

9.2 percent

3.5 percent

8.8 percent

4.7 percent

For knowing the spending capacity of the household sector, we have to use the concept of:

National income

Personal income

Private income

Personal disposable income

What was the production of rice in million tons in 2005-06?

4.4

5.5

6.6

7.7

NAT II Management Science Economy MCQs With Answers