NAT II Management Science Economy MCQs With Answers

Question # 1

The methods of measuring elasticity of supply are:

Three

Two

Four

Five

Question # 2

The aggregate supply curve is the relationship between:

The price level and the real domestic output purchased

The price level and the real domestic output produced

The price level which producers are willing to accept and the price level purchasers are willing to pay.

The real domestic output purchased and the real domestic output produced.

Question # 3

The quality of a commodity which satisfies the human wants:

Usefulness

Loss

Utility

Return

Question # 4

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

Question # 5

Give the share of commodity producing the sector in the GNP in 2005-06?

2.5 percent

4.3percent

3.8percent

7.2percent

Question # 6

The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

5 + (200/Q)

200

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