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

Who wrote "The Nature and Significance of Economics":

Question # 2

According to law of increasing return, marginal product:

Question # 3

The supply of perishable goods is:

Question # 4

What was the growth recorded by the manufacturing sector during 2005-06?

Question # 5

International trade has the benefits:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 "Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?
A. Consumption curve
B. Supply curve
C. Laffer curve
D. Investment curve
2 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
3 What was the number of buffaloes in 2005-06?
A. 12 million
B. 28.4 million
C. 34 million
D. 40 million
4 Rent of building is included in:
A. Fixed cost
B. Variable cost
C. Marginal cost
D. Selling cost
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 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 In 2005-06 which country had the highest growth rate among the following?
A. Egypt
B. Singapore
C. Kuwait
D. Nigeria
8 The shape of AR and MR under perfect competition is:
A. Vertical
B. U-shape
C. Horizontal to ox-axis
D. None of these
9 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
10 International trade has the benefits:
A. One
B. Three
C. Two
D. Unlimited

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