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

The quality of a commodity which satisfies the human wants:

Question # 2

How many methods can be used for cultivation:

Question # 3

Which sector contributed to 22 percent to GDP in Pakistan in 2005-06?

Question # 4

"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?

Question # 5

If we compare Gross Domestic Product (GDP) with Gross National
1. Product (GNP) then:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?
A. A.W. Phillips
B. John Maynard Keynes
C. Joseph Schumpeter
D. Milton Friedman
2 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
3
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.
4 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
5 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
6 "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
7 Who criticized Prof. Robbin's definition?
A. Marshall, J.B
B. Beveridge
C. Clark
D. Pigeou
8 In the FY 2005-06 the GDP growth rate of Euro area was 1.3 percent, the developing nations 8.6 percent and the world was:
A. 3.5 percent
B. 4.8 percent
C. 4.5 percent
D. 5.5 percent
9 The shape of AR and MR under perfect competition is:
A. Vertical
B. U-shape
C. Horizontal to ox-axis
D. None of these
10 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four

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