Question # 1

Double counting in national income refers to:

Counting a product more than once

Counting a product at the final stage of output process

Counting both as product and as factor payment

Counting both as real goods and as money flow

Welfare economics is the branch of economics which deals with:

Positive issues

Normative issues

Micro issues

Macro issues

"Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?

Consumption curve

Supply curve

Laffer curve

Investment curve

Reward the labour is:

Interest

Wages

Profit

Rent

In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:

190

221

350

475

Given the amount of gross fixed investment percentage of GDP during 2005-06.

14.2 percent

18.4 percent

25.0 percent

26.6 percent

NAT II Management Science Economy MCQs With Answers