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

A monopolistically competitive firm in short run equilibrium:

Question # 2

Which of the following will be TRUE if real income rose and the interest rate fell following an increase in government purchases?

Question # 3

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

Question # 4

What was the production of cotton in 2005-06?

Question # 5

What remains after deduction of direct taxes lions the personal income:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Reward the labour is:
A. Interest
B. Wages
C. Profit
D. Rent
2 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
3 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
4 If we compare Gross Domestic Product (GDP) with Gross National
1. Product (GNP) then:
A. GNP = GDP - Net income from abroad
B. GNP = GDP + Net income from abroad
C. GNP = NNP - Net income from abroad
D. GNP = NNP + Net income from abroad
5 What was the difficulty in the barter System:
A. Excess of goods
B. Difference language
C. Lack of co-incidence
D. Difference in profession
6
In monopoly, which of the following is NOT true?
A. Products are differentiated
B.
There is freedom of entry and exit into the industry in the long run
C. The firm is a price maker
D. There is one main seller
7 The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?
A. 5Q
B. 5
C. 5 + (200/Q)
D. 200
8 Which group of the following showed a negative growth of -58.6 percent during 2005-06?
A. Chemicals
B. Petroleum
C. Electricals
D. Basic Metals
9 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
10 The production of gram in 2005-06, in thousand tons was:
A. 450
B. 500
C. 527
D. 750

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