Question # 1

The GDP growth rate of agriculture sector in 2005-06 was:

2.5 percent

4.3 percent

1.6 percent

9.3 percent

Marginal cost curve always intersects average cost curve at:

The maximum point

The central point

The minimum point

The vertical point

Double counting in national income refers to:

Counting a product more than once

Counting a product at the final stage of output process

Counting both as product and as factor payment

Counting both as real goods and as money flow

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

According to law of increasing return, marginal product:

Increases

Decreases

Remains constant

None of these

When national income is increases:

Standard of living increases

Standard of living decreases

Remains same

Bad thing

NAT II Management Science Economy MCQs With Answers