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

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Question # 1

According to law of increasing return, marginal product:

Question # 2

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

Question # 3

The elasticity of demand of durable goods is

Question # 4

The long run aggregate supply curve will shift to the right if:

Question # 5

As compared to existing firms, a new firm entering in monopolist market has:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who wrote "The Nature and Significance of Economics":
A. Adam Smith
B. Marshall
C. Robbins
D. Keynes
2 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
3 The price elasticity of demand for any good must be less than or equal to zero unless:
A. The good is a necessity.
B. The good is a luxury.
C. The good is a Ciffen good.
D. None of the given options.
4 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
5 Give the production of sugarcane in Pakistan in 2005-06?
A. 22 millions tons
B. 33 million tons
C. 44 million tons
D. 55 million tons
6 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
7 If money supply is fixed by the central bank then in interest rate money supply space, money supply curve will be:
A. Horizontal
B. Vertical
C. Negatively sloped
D. Positively sloped
8 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
9 The per capita income was $742 in 2004-05 but in 2005-06, rose to:
A. $ 795
B. $ 847
C. $ 880
D. $900
10 What was the contribution of the services sector to the GNP in FY 2005-06.
A. 9.2 percent
B. 3.5 percent
C. 8.8 percent
D. 4.7 percent

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