Question # 1

What was the share of livestock to the GNP during 2005-06?

4.7percent

6.5percent

3.5percent

8.0percent

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

An increase in taxes on individuals

A decrease in real interest rates

A union settlement that increases wage levels

An increase in government purchases

If we compare Gross Domestic Product (GDP) with Gross National

1. Product (GNP) then:

GNP = GDP - Net income from abroad

GNP = GDP + Net income from abroad

GNP = NNP - Net income from abroad

GNP = NNP + Net income from abroad

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

Quantity demanded

Quantity supplied

Price

Output

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

What was the growth recorded by the manufacturing sector during 2005-06?

4.2 percent

5.5percent

7.3percent

8.6percent

NAT II Management Science Economy MCQs With Answers