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

The quality of a commodity which satisfies the human wants:

Question # 2

Which of the following is TRUE for a Giffen good?

Question # 3

Give the production of sugarcane in Pakistan in 2005-06?

Question # 4

For a study of the long term growth of the economy, we use:

Question # 5

Who is the writer of Wealth of Nation?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1
The market structure in which strategic considerations are most important is:
A. Monopolistic competition.
B. Oligopoly.
C. Pure competition.
D. Pure monopoly.
2 Who is responsible for profit and loss in the business:
A. Capitalist
B. Entrepreneur
C. Labour
D. Middleman
3 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
4 In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:
A. The aggregate demand, the short-run aggregate supply and the long-run aggregate supply curves
B. The short-run aggregate supply and the long-run aggregate supply curves
C. The aggregate demand and the short-run aggregate supply curves
D. The aggregate demand and the long-run aggregate supply curves
5 The per capita income was $742 in 2004-05 but in 2005-06, rose to:
A. $ 795
B. $ 847
C. $ 880
D. $900
6 Who is the writer of Wealth of Nation?
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
7
A monopolistically competitive firm in short run equilibrium:
A.
Will make negative profit (lose money).
B. Will make zero profit (break-even)
C. Will make positive profit
D. Any of the given are possible.
8 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
9 What was the difficulty in the barter System:
A. Excess of goods
B. Difference language
C. Lack of co-incidence
D. Difference in profession
10 Reward for capital is called:
A. Rent
B. Interest
C. Wages
D. Profit

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