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

The shape of AR and MR under perfect competition is:

Question # 2

According to law of diminishing marginal utility, the marginal utility:

Question # 3

Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?

Question # 4

Give the share of commodity producing the sector in the GNP in 2005-06?

Question # 5

A monopolistically competitive firm in short run equilibrium:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who criticized Prof. Robbin's definition?
A. Marshall, J.B
B. Beveridge
C. Clark
D. Pigeou
2 In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:
A. 190
B. 221
C. 350
D. 475
3 The long run aggregate supply curve will shift to the right if:
A. The price level increases.
B. Factors of production (such as labor and capital) increase
C. Expenditures (such as consumption and net exports) increase.
D. The prices of inputs used to produce goods and services (such as wages and the price of oil)descreases
4 In 2005-06 the share of chemicals was 9.08 percent and the share of electricals was:
A. 4.6 percent
B. 8.2 percent
C. 11.78 percent
D. 16.3 percent
5 In 2005-06, the percentage of total investment to GDP was:
A. 8 percent
B. 10percent
C. 15percent
D. 20percent
6 During a year aggregate value of produced goods and services of a country is called:
A. Per-capita income
B. Net national income
C. Personal income
D. Gross national product
7
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.
8 For a study of the long term growth of the economy, we use:
A. Real GNP
B. Nominal GNP
C. Personal income
D. Disposable personal income
9 Which of the following large-scale items showed a negative growth of -47.97 percent during July-March 2005-06?
A. Sugar
B. Vegetable Ghee
C. Billets
D. Cement
10 Double counting in national income refers to:
A. Counting a product more than once
B. Counting a product at the final stage of output process
C. Counting both as product and as factor payment
D. Counting both as real goods and as money flow

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