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

In 2005-06 the growth rate of Saudi Arabia was 6.5 percent, Kuwait 8.5 percent and Bangladesh 5.8 percent. What was the growth rate of Iran?

Question # 2

The methods of measuring elasticity of supply are:

Question # 3

Consumer goods are those goods which are used by a man:

Question # 4

The shape of AR and MR under perfect competition is:

Question # 5

The economy gets maximum prosperity during:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return
2 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
3 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
4 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
5 Income elasticity show the relationship between:
A. Income and demand
B. Income and consumption
C. Income and price
D. Income and saving
6 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
7 Give the share of commodity producing the sector in the GNP in 2005-06?
A. 2.5 percent
B. 4.3percent
C. 3.8percent
D. 7.2percent
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 International trade has the benefits:
A. One
B. Three
C. Two
D. Unlimited
10 The share of agriculture in the national economy in 2005-06, was:
A. 21.6percent
B. 16.2percent
C. 12.8percent`
D. 13.4percent

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