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 crop area of sugarcane in thousand hectares was:

Question # 2

What was the share of livestock to the GNP during 2005-06?

Question # 3

The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

Question # 4

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

Question # 5

In 2005-06, the crop area of cotton was 3,096 thousand hectares and the crop area of rice was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The long run aggregate supply curve will shift to the right if:
A. The price level increases.
B. Factors of production (such as labor and capital) increase
C. Expenditures (such as consumption and net exports) increase.
D. The prices of inputs used to produce goods and services (such as wages and the price of oil)descreases
2 In 2005-06 the real GDP growth of USA was 3.5 percent, of China 9.9 percent, Japan 2.7 percent, India 8.0 percent and of Pakistan was:
A. 6.6 percent
B. 1.6 percent
C. 4.6 percent
D. 5.0 percent
3
Under the kinked demand curve model, an increase in marginal cost will lead to:
A.
An increase in output level and a decrease in price.
B.
A decrease in output level and an increase in price.
C.
A decrease in output level and no change in price.
D.
Neither a change in output level our a change in price.
4 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
5 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
6 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
7 Inflation will be useful for:
A. Labourers
B. Industrialist
C. Consumers
D. Pensioners
8 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
9 What was the production of cotton in 2005-06?
A. 12.4million bales
B. 16.2 millionbales
C. 18.8 million bales
D. 24.1 million bales
10 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output

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