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 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:

Question # 2

The supply of perishable goods is:

Question # 3

How many methods can be used for cultivation:

Question # 4

Phases of trade cycle are:

Question # 5

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

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Reward for capital is called:
A. Rent
B. Interest
C. Wages
D. Profit
2 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
3 A firm is charging a different price for each unit purchased by a consumer.This is called:
A. First-degree price discrimination
B. Second-degree price discrimination
C. Third-degree price discrimination
D. None of the given options
4 Welfare economics is the branch of economics which deals with:
A. Positive issues
B. Normative issues
C. Micro issues
D. Macro issues
5 In 2005-06, the percentage of total investment to GDP was:
A. 8 percent
B. 10percent
C. 15percent
D. 20percent
6 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
7 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
8
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
9
A monopolistically competitive firm in short run equilibrium:
A.
Will make negative profit (lose money).
B. Will make zero profit (break-even)
C. Will make positive profit
D. Any of the given are possible.
10
The aggregate supply curve is the relationship between:
A.
The price level and the real domestic output purchased
B.
The price level and the real domestic output produced
C.
The price level which producers are willing to accept and the price level purchasers are willing to pay.
D.
The real domestic output purchased and the real domestic output produced.

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