NAT II Management Science Economy With Answers

NAT II Management Science Economy

Sr. # Questions Answers Choice
1 Real GDP is equal to: Nominal GDP - Inflation Nominal GDP + Inflation Nominal GDP / Inflation Inflation / Nominal GDP
2 A nation's balance of payments can be affected by changes in: Foreign income The differential between domestic and foreign interst rates The real exchange rate All of the given options
3 The long run aggregate supply curve will shift to the right if: The price level increases. Factors of production (such as labor and capital) increase Expenditures (such as consumption and net exports) increase. The prices of inputs used to produce goods and services (such as wages and the price of oil)descreases
4
The aggregate supply curve is the relationship between:
 <div>The price level and the real domestic output purchased</div> <div>The price level and the real domestic output produced</div> <div>The price level which producers are willing to accept and the price level purchasers are willing to pay.</div> <div>The real domestic output purchased and the real domestic output produced.</div>
5
For a firm buying labor competitively, the marginal input cost is equal to the:
 Wage Interest rate Price of output Cost of raw materials
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