Question # 1

Inflation on prices:

Decrease

Remains constant

Increase

Become zero

An increase in supply is shown by:

Shifting the supply curve to the left

Shifting the supply curve to the right

Upward movement along the supply curve

Downward movement along the supply curve

The price elasticity of demand for any good must be less than or equal to zero unless:

The good is a necessity.

The good is a luxury.

The good is a Ciffen good.

None of the given options.

In 2005-06 which country had the highest growth rate among the following?

Egypt

Singapore

Kuwait

Nigeria

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

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

NAT II Management Science Economy MCQs With Answers