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

What was the production of rice in million tons in 2005-06?

Question # 2

The methods of measuring elasticity of supply are:

Question # 3

The economy gets maximum prosperity during:

Question # 4

The other name of law of diminishing return is:

Question # 5

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

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The supply of land is:
A. Infinity
B. Fixed
C. Variable
D. Zero
2 Which of the following will be TRUE if real income rose and the interest rate fell following an increase in government purchases?
A. IS curve must be vertical
B. LM curve must be vertical
C. Central Bank must have increased the money supply at the same time
D. Central Bank must have decreased the money supply at the same time
3 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
4 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
5 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
6 The Diamer Bhasha Dam will be completed in :
A. 2009
B. 2010
C. 2012
D. 2015
7 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
8
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.
9
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.
10 The methods of measuring elasticity of supply are:
A. Three
B. Two
C. Four
D. Five

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