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

What was the percentage in the production of cotton yarn during July-March 2005-06?

Question # 2

Under the kinked demand curve model, an increase in marginal cost will lead to:

Question # 3

The price elasticity of demand for any good must be less than or equal to zero unless:

Question # 4

The shape of AR and MR under perfect competition is:

Question # 5

Income elasticity show the relationship between:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1
The aggregate supply curve is the relationship between:
A.
The price level and the real domestic output purchased
B.
The price level and the real domestic output produced
C.
The price level which producers are willing to accept and the price level purchasers are willing to pay.
D.
The real domestic output purchased and the real domestic output produced.
2 Who wrote "The Nature and Significance of Economics":
A. Adam Smith
B. Marshall
C. Robbins
D. Keynes
3 What remains after deduction of direct taxes lions the personal income:
A. NNI
B. DPI
C. NDI
D. GNP
4 The Diamer Bhasha Dam will be completed in :
A. 2009
B. 2010
C. 2012
D. 2015
5 It is a Federal Tax:
A. Excise duty
B. Local Tax
C. Property Tax
D. None
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 A good for which income and quantity demanded are inversely related is known as:
A. Inferior good
B. Complementary good
C. Normal good
D. None of the given options
8 The other name of law of diminishing return is:
A. Law of supply
B. Law of diminishing marginal utility
C. Law of demand
D. Law of increasing cost
9
As more of a good is consumed, then total utility typically:
A. Increases at a decreasing rate.
B.
Decreases as long as marginal utility is negative
C.
Decreases as long as marginal utility is positive
D.
Is negative as long as marginal utility is decreasing.
10 If pen and ink are complements, then an increase in the price of pen will cause:
A. An increase in the price of ink
B. Less ink to the demanded at each price
C. A decrease in the demand for pen
D. A rightward shift in the demand curve for ink

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