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

What was the production of rice in million tons in 2005-06?

Question # 2

The price elasticity of demand measures the responsiveness of quantity demanded to:

Question # 3

The economy gets maximum prosperity during:

Question # 4

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

Question # 5

The elasticity of demand of durable goods is

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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 Canons of taxation describes:
A. Marshall
B. Keynes
C. Robbins
D. Adam Smith
3 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
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 Consumer goods are those goods which are used by a man:
A. Directly
B. Off and On
C. Indirectly
D. Never
6 In 2005-06, the crop area of cotton was 3,096 thousand hectares and the crop area of rice was:
A. 2,620
B. 982
C. 8,303
D. 4,702
7 In inflation prices:
A. Increase
B. Do not change
C. Decrease
D. Become zero
8 For knowing the spending capacity of the household sector, we have to use the concept of:
A. National income
B. Personal income
C. Private income
D. Personal disposable income
9 Inflation on prices:
A. Decrease
B. Remains constant
C. Increase
D. Become zero
10 In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:
A. 190
B. 221
C. 350
D. 475

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