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

Marginal cost curve always intersects average cost curve at:

Question # 2

A nation's balance of payments can be affected by changes in:

Question # 3

The quality of a commodity which satisfies the human wants:

Question # 4

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?

Question # 5

Who wrote "The Nature and Significance of Economics":

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Ushr implies on:
A. Agricultural product
B. Industrial product
C. Agricultural & industrial product
D. None of these
2 To find the profit maximizing level of output, a firm finds the output level where:
A. Price equals marginal cost
B. Marginal revenue and average total cost
C. Price equals marginal revenue
D. None of the given options
3 Double counting in national income refers to:
A. Counting a product more than once
B. Counting a product at the final stage of output process
C. Counting both as product and as factor payment
D. Counting both as real goods and as money flow
4 During a year aggregate value of produced goods and services of a country is called:
A. Per-capita income
B. Net national income
C. Personal income
D. Gross national product
5 In 2005-06, the crop area of sugarcane in thousand hectares was:
A. 540
B. 642
C. 756
D. 907
6 A market is said to be in equilibrium when:
A. Demand equals output
B. There is downward pressure on price
C. The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price
D. All buyers are able to find sellers willing to sell to them at the current price
7 What is deducted from GNP to find GDP:
A. Depreciation allowance
B. Net income received from abroad
C. Indirect as
D. Transfer payments
8 Macro Economics was introduced by
A. Alfred Marshall
B. J.M. Keynes
C. N.W. Senior
D. J.B. Clark
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 What was the contribution of the services sector to the GNP in FY 2005-06.
A. 9.2 percent
B. 3.5 percent
C. 8.8 percent
D. 4.7 percent

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