Question # 1

Welfare economics is the branch of economics which deals with:

Positive issues

Normative issues

Micro issues

Macro issues

What was the share of the major crops of value added in agriculture in 2005-06?

24.2percent

35.2percent

39.1percent

45percent

If money supply is fixed by the central bank then in interest rate money supply space, money supply curve will be:

Horizontal

Vertical

Negatively sloped

Positively sloped

The economy gets prosperity during:

Recession

Boom

Depression

Recovery

The price elasticity of demand for any good must be less than or equal to zero unless:

The good is a necessity.

The good is a luxury.

The good is a Ciffen good.

None of the given options.

The shape of AR and MR under perfect competition is:

Vertical

U-shape

Horizontal to ox-axis

None of these

NAT II Management Science Economy MCQs With Answers