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

If total expenditure decrease with the rise in prices elasticity of demand will be:

Question # 2

Which group of the following showed a negative growth of -58.6 percent during 2005-06?

Question # 3

Which Economists presented the law of diminishing marginal utility:

Question # 4

A tax on the accounting profits of corporations is known as:

Question # 5

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

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 What is deducted from GNP to find GDP:
A. Depreciation allowance
B. Net income received from abroad
C. Indirect as
D. Transfer payments
2 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
3
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
4 Macro Economics was introduced by
A. Alfred Marshall
B. J.M. Keynes
C. N.W. Senior
D. J.B. Clark
5 According to law of diminishing marginal utility, the marginal utility:
A. Increases
B. Remains constant
C. Diminshes
D. Negative
6 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
7 "Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?
A. Consumption curve
B. Supply curve
C. Laffer curve
D. Investment curve
8 During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:
A. 9.2percent
B. 4.4percent
C. 1.9percent
D. -3.6percent
9 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None
10 Marginal cost curve always intersects average cost curve at:
A. The maximum point
B. The central point
C. The minimum point
D. The vertical point

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