NAT II Management Science Economy MCQs With Answers

Question # 1

During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:

Choose an answer

9.2percent

4.4percent

1.9percent

-3.6percent

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Question # 2

Which of the following event will lead towards cost-push inflation and therefore stagflation?

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An increase in taxes on individuals

A decrease in real interest rates

A union settlement that increases wage levels

An increase in government purchases

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Question # 3

A nation's balance of payments can be affected by changes in:

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Foreign income

The differential between domestic and foreign interst rates

The real exchange rate

All of the given options

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Question # 4

Which of the following is true about supply curve under monopoly?

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It is same as the competitive market supply curve

It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs

It is the result of market power and production costs

None of the given statements is true

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Question # 5

In monopoly, which of the following is NOT true?

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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

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Question # 6

Which Economists presented the law of diminishing marginal utility:

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Robbins

Malthus

Adam Smith

Marshall

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