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

Which Economists presented the law of diminishing marginal utility:

Question # 2

A good for which income and quantity demanded are inversely related is known as:

Question # 3

The supply of perishable goods is:

Question # 4

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

Question # 5

Real GDP is equal to:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1
In monopoly, which of the following is NOT true?
A. Products are differentiated
B.
There is freedom of entry and exit into the industry in the long run
C. The firm is a price maker
D. There is one main seller
2 Inflation on prices:
A. Decrease
B. Remains constant
C. Increase
D. Become zero
3 If total expenditure decrease with the rise in prices elasticity of demand will be:
A. Equal to unity
B. Less than unity
C. Greater than unity
D. Equal to zero
4 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
5 Due to devaluation exports become:
A. Smaller
B. Larger
C. Cheaper
D. Expensive
6 An increase in supply is shown by:
A. Shifting the supply curve to the left
B. Shifting the supply curve to the right
C. Upward movement along the supply curve
D. Downward movement along the supply curve
7 Reward for capital is called:
A. Rent
B. Interest
C. Wages
D. Profit
8 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
9 The production of gram in 2005-06, in thousand tons was:
A. 450
B. 500
C. 527
D. 750
10 Which of the following will be TRUE if real income rose and the interest rate fell following an increase in government purchases?
A. IS curve must be vertical
B. LM curve must be vertical
C. Central Bank must have increased the money supply at the same time
D. Central Bank must have decreased the money supply at the same time

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