NAT IIM Management Science Economy Online Test for Pakistani Students

MCQ's Test For NAT II Management Science Economy

Try The MCQ's Test For NAT II Management Science Economy

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NAT II Management Science Economy

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Question # 1

If total expenditure decrease with the rise in prices elasticity of demand will be:

Question # 2

Reward for capital is called:

Question # 3

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

Question # 4

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

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 During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:
A. 9.2percent
B. 4.4percent
C. 1.9percent
D. -3.6percent
2 Due to devaluation exports become:
A. Smaller
B. Larger
C. Cheaper
D. Expensive
3
A monopolistically competitive firm in the long run equilibrium:
A. Will make negative profit.
B. Will make zero profit.
C. Will make positive profit
D. Any of the given are possible.
4 What is the interest rate effect that explains why the aggregate demand curve slopes downward?
A. It refers to the effect of changes in the price level on quantity of investment demanded which in turn affects interest rates
B.
It refers to the effect of interest rates on borrowing which in turn affects consumption spending.
C. It refers to the effect of changes in the price level on interest rates which in turn affects the quantity of investment demanded
D. It refers to the shifts in aggregate demand when interest rates change
5 Average revenue is equal to:
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
6 Income elasticity show the relationship between:
A. Income and demand
B. Income and consumption
C. Income and price
D. Income and saving
7 In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:
A. The aggregate demand, the short-run aggregate supply and the long-run aggregate supply curves
B. The short-run aggregate supply and the long-run aggregate supply curves
C. The aggregate demand and the short-run aggregate supply curves
D. The aggregate demand and the long-run aggregate supply curves
8 Canons of taxation describes:
A. Marshall
B. Keynes
C. Robbins
D. Adam Smith
9 In 2005-06 total production of fish inland and marine in Pakistan was:
A. 5,81,000 tons
B. 6,72,000 tons
C. 7,44,000 tons
D. 8,33,000 tons
10 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall

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