NAT IIM Management Science Economy Online Test for Pakistani Students

MCQ's Test For NAT II Management Science Economy

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NAT II Management Science Economy

00:00
Question # 1

"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?

Question # 2

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

Question # 3

A tax on the accounting profits of corporations is known as:

Question # 4

Consumer goods are those goods which are used by a man:

Question # 5

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 According to law of diminishing marginal utility, the marginal utility:
A. Increases
B. Remains constant
C. Diminshes
D. Negative
2 The interest rate parity is the basic identity that relates which of the following?
A. Interest rates and exchange rates
B. Interest rates and inflation rate
C. Exchange rates and inflation rate
D. Discount rate and inflation rate
3 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
4 International trade has the benefits:
A. One
B. Three
C. Two
D. Unlimited
5
Under the kinked demand curve model, an increase in marginal cost will lead to:
A.
An increase in output level and a decrease in price.
B.
A decrease in output level and an increase in price.
C.
A decrease in output level and no change in price.
D.
Neither a change in output level our a change in price.
6 Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?
A. Indonesia
B. Malaysia
C. Vietnam
D. Thailand
7 What was the production of cotton in 2005-06?
A. 12.4million bales
B. 16.2 millionbales
C. 18.8 million bales
D. 24.1 million bales
8 Which of the following event will lead towards cost-push inflation and therefore stagflation?
A. An increase in taxes on individuals
B. A decrease in real interest rates
C. A union settlement that increases wage levels
D. An increase in government purchases
9 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
10 Which of the following is TRUE for a Giffen good?
A. Its marginal utility is zero
B. Its demand curve is perfectly elastic
C. Its substitution effect is positive
D. Its demand curve is positively sloped

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