Question # 1

Which group of the following showed a negative growth of -58.6 percent during 2005-06?

Chemicals

Petroleum

Electricals

Basic Metals

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

16.6

21.7

26.2

30.8

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

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

Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?

A.W. Phillips

John Maynard Keynes

Joseph Schumpeter

Milton Friedman

NAT II Management Science Economy MCQs With Answers