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

The supply of land is:

Question # 2

What is the interest rate effect that explains why the aggregate demand curve slopes downward?

Question # 3

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

Question # 4

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

Question # 5

In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
2 In 2005-06 the share of chemicals was 9.08 percent and the share of electricals was:
A. 4.6 percent
B. 8.2 percent
C. 11.78 percent
D. 16.3 percent
3 In 2005-06 which country had the highest growth rate among the following?
A. Egypt
B. Singapore
C. Kuwait
D. Nigeria
4 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
5 Canons of taxation describes:
A. Marshall
B. Keynes
C. Robbins
D. Adam Smith
6
For a firm buying labor competitively, the marginal input cost is equal to the:
A. Wage
B. Interest rate
C. Price of output
D. Cost of raw materials
7 During a year aggregate value of produced goods and services of a country is called:
A. Per-capita income
B. Net national income
C. Personal income
D. Gross national product
8 In 2005-06 the real GDP growth of USA was 3.5 percent, of China 9.9 percent, Japan 2.7 percent, India 8.0 percent and of Pakistan was:
A. 6.6 percent
B. 1.6 percent
C. 4.6 percent
D. 5.0 percent
9 The elasticity of demand of durable goods is:
A. Zero
B. More than unity
C. Less than unity
D. Equal to unity
10 A market is said to be in equilibrium when:
A. Demand equals output
B. There is downward pressure on price
C. The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price
D. All buyers are able to find sellers willing to sell to them at the current price

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