Question # 1

Welfare economics is the branch of economics which deals with:

Positive issues

Normative issues

Micro issues

Macro issues

The methods of measuring elasticity of supply are:

Three

Two

Four

Five

The shape of AR and MR under perfect competition is:

Vertical

U-shape

Horizontal to ox-axis

None of these

Who presented the quantity theory of money:

Marshall

Robbins

Taussig

Keynes

If total expenditure decrease with the rise in prices elasticity of demand will be:

Equal to unity

Less than unity

Greater than unity

Equal to zero

The quality of a good which satisfies a human want is called as:

Service

Cost

Utility

None

NAT II Management Science Economy MCQs With Answers