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

Who criticized Prof. Robbin's definition?

Question # 2

In 2005-06 the share of chemicals was 9.08 percent and the share of electricals was:

Question # 3

The other name of law of diminishing return is:

Question # 4

During a year aggregate value of produced goods and services of a country is called:

Question # 5

Mairani Dam is being built in Balochistan Gomal Zam Dam in NWFP and Diamer Bhasha Dam in the region of:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
2 A tax on the accounting profits of corporations is known as:
A. Sales tax
B. Excise tax
C. Corporate income tax
D. Personal income tax
3 Consumer goods are those goods which are used by a man:
A. Directly
B. Off and On
C. Indirectly
D. Never
4 Personal income includes:
A. Direct taxes
B. Indirect taxes
C. Undivided profit
D. Both 2nd and 3rd
5 What is the interest rate effect that explains why the aggregate demand curve slopes downward?
A. It refers to the effect of changes in the price level on quantity of investment demanded which in turn affects interest rates
B.
It refers to the effect of interest rates on borrowing which in turn affects consumption spending.
C. It refers to the effect of changes in the price level on interest rates which in turn affects the quantity of investment demanded
D. It refers to the shifts in aggregate demand when interest rates change
6 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
7 The economy gets maximum prosperity during:
A. Recession
B. Recovery
C. Boom
D. Depression
8 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
9 The supply of land is:
A. Infinity
B. Fixed
C. Variable
D. Zero
10 Marginal cost curve always intersects average cost curve at:
A. The maximum point
B. The central point
C. The minimum point
D. The vertical point

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