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NAT II Management Science Economy MCQs With Answers
Question # 1
According to law of diminishing marginal utility, the marginal utility:
Choose an answer
Increases
Remains constant
Diminshes
Negative
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Question # 2
Average revenue is equal to:
Choose an answer
Price
Total revenue
Marginal revenue
Average cost
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Question # 3
If we compare Gross Domestic Product (GDP) with Gross National
1. Product (GNP) then:
Choose an answer
GNP = GDP - Net income from abroad
GNP = GDP + Net income from abroad
GNP = NNP - Net income from abroad
GNP = NNP + Net income from abroad
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Question # 4
If money supply is fixed by the central bank then in interest rate money supply space, money supply curve will be:
Choose an answer
Horizontal
Vertical
Negatively sloped
Positively sloped
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Question # 5
An increase in supply is shown by:
Choose an answer
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
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Question # 6
If total expenditure decrease with the rise in prices elasticity of demand will be:
Choose an answer
Equal to unity
Less than unity
Greater than unity
Equal to zero
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