Question # 1

Welfare economics is the branch of economics which deals with:

Positive issues

Normative issues

Micro issues

Macro issues

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

What was the production of wheat in million tones during 2005-06?

16.6

21.7

26.2

30.8

International trade has the benefits:

One

Three

Two

Unlimited

In inflation prices:

Increase

Do not change

Decrease

Become zero

Income elasticity show the relationship between:

Income and demand

Income and consumption

Income and price

Income and saving

NAT II Management Science Economy MCQs With Answers