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 GDP growth rate of agriculture sector in 2005-06 was:

Question # 2

The other name of law of diminishing return is:

Question # 3

The methods of measuring elasticity of supply are:

Question # 4

During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:

Question # 5

Reward for capital is called:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 According to law of diminishing marginal utility, the marginal utility:
A. Increases
B. Remains constant
C. Diminshes
D. Negative
2 What was the number of buffaloes in 2005-06?
A. 12 million
B. 28.4 million
C. 34 million
D. 40 million
3 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
4 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
5 The GDP growth rate of agriculture sector in 2005-06 was:
A. 2.5 percent
B. 4.3 percent
C. 1.6 percent
D. 9.3 percent
6 A market is said to be in equilibrium when:
A. Demand equals output
B. There is downward pressure on price
C. The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price
D. All buyers are able to find sellers willing to sell to them at the current price
7 Which sector contributed to 22 percent to GDP in Pakistan in 2005-06?
A. Services
B. Transport
C. Mining
D. Agriculture
8 The economy gets prosperity during:
A. Recession
B. Boom
C. Depression
D. Recovery
9 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
10 The elasticity of demand of durable goods is:
A. Zero
B. More than unity
C. Less than unity
D. Equal to unity

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