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

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

Question # 2

The per capita income was $742 in 2004-05 but in 2005-06, rose to:

Question # 3

The GDP growth rate of agriculture sector in 2005-06 was:

Question # 4

A market is said to be in equilibrium when:

Question # 5

Macro Economics was introduced by

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
2 Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?
A. Indonesia
B. Malaysia
C. Vietnam
D. Thailand
3 International trade has the benefits:
A. One
B. Three
C. Two
D. Unlimited
4
Under the kinked demand curve model, an increase in marginal cost will lead to:
A.
An increase in output level and a decrease in price.
B.
A decrease in output level and an increase in price.
C.
A decrease in output level and no change in price.
D.
Neither a change in output level our a change in price.
5 Give the production of sugarcane in Pakistan in 2005-06?
A. 22 millions tons
B. 33 million tons
C. 44 million tons
D. 55 million tons
6 How many methods can be used for cultivation:
A. One
B. Two
C. Three
D. Four
7
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.
8 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
9 The share of agriculture in the national economy in 2005-06, was:
A. 21.6percent
B. 16.2percent
C. 12.8percent`
D. 13.4percent
10 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed

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