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

The price elasticity of demand for any good must be less than or equal to zero unless:

Question # 2

Price floor results in:

Question # 3

Macro Economics was introduced by

Question # 4

Real GDP is equal to:

Question # 5

During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 Which of the following is true about supply curve under monopoly?
A. It is same as the competitive market supply curve
B. It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs
C. It is the result of market power and production costs
D. None of the given statements is true
3 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return
4 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
5 The economy gets maximum prosperity during:
A. Recession
B. Recovery
C. Boom
D. Depression
6 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
7 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
8 In 2005-06, the crop area of sugarcane in thousand hectares was:
A. 540
B. 642
C. 756
D. 907
9 What remains after deduction of direct taxes lions the personal income:
A. NNI
B. DPI
C. NDI
D. GNP
10 The economy gets prosperity during:
A. Recession
B. Boom
C. Depression
D. Recovery

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