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

Which of the following is true about supply curve under monopoly?

Question # 2

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

Question # 3

Who described Economies as a science of wealth:

Question # 4

The other name of law of diminishing return is:

Question # 5

If pen and ink are complements, then an increase in the price of pen will cause:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who is the writer of Wealth of Nation?
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
2 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?
A. 4.2 percent
B. 3.1 percent
C. 6.7 percent
D. 5.9 percent
3 Macro Economics was introduced by
A. Alfred Marshall
B. J.M. Keynes
C. N.W. Senior
D. J.B. Clark
4 In the FY 2005-06 the GDP growth rate of Euro area was 1.3 percent, the developing nations 8.6 percent and the world was:
A. 3.5 percent
B. 4.8 percent
C. 4.5 percent
D. 5.5 percent
5 Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?
A. A.W. Phillips
B. John Maynard Keynes
C. Joseph Schumpeter
D. Milton Friedman
6 Which of the following event will lead towards cost-push inflation and therefore stagflation?
A. An increase in taxes on individuals
B. A decrease in real interest rates
C. A union settlement that increases wage levels
D. An increase in government purchases
7 It is a Federal Tax:
A. Excise duty
B. Local Tax
C. Property Tax
D. None
8 A good for which income and quantity demanded are inversely related is known as:
A. Inferior good
B. Complementary good
C. Normal good
D. None of the given options
9 The share of agriculture in the national economy in 2005-06, was:
A. 21.6percent
B. 16.2percent
C. 12.8percent`
D. 13.4percent
10 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP

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