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

Inflation on prices:

Question # 2

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

Question # 3

For a study of the long term growth of the economy, we use:

Question # 4

During a year aggregate value of produced goods and services of a country is called:

Question # 5

Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
2 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
3 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
4 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None
5 In 2005-06, the percentage of total investment to GDP was:
A. 8 percent
B. 10percent
C. 15percent
D. 20percent
6 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
7 Name the water project to be completed in April 2009:
A. Gomal Zam Dam
B. Rainee Canal
C. Kachhi Canal
D. Mirani Dam
8 Who wrote "The Nature and Significance of Economics":
A. Adam Smith
B. Marshall
C. Robbins
D. Keynes
9 If pen and ink are complements, then an increase in the price of pen will cause:
A. An increase in the price of ink
B. Less ink to the demanded at each price
C. A decrease in the demand for pen
D. A rightward shift in the demand curve for ink
10 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

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