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

Which of the following event will lead towards cost-push inflation and therefore stagflation?

Question # 2

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

Question # 3

When national income is increases:

Question # 4

As more of a good is consumed, then total utility typically:

Question # 5

National income does not include:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return
2
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.
3 The economy gets prosperity during:
A. Recession
B. Boom
C. Depression
D. Recovery
4 Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?
A. A.W. Phillips
B. John Maynard Keynes
C. Joseph Schumpeter
D. Milton Friedman
5 The elasticity of demand of durable goods is:
A. Zero
B. More than unity
C. Less than unity
D. Equal to unity
6 A good for which income and quantity demanded are inversely related is known as:
A. Inferior good
B. Complementary good
C. Normal good
D. None of the given options
7 The growth rate of Sri-lanka in 2005-06?
A. 4.4 percent
B. 5.9 percent
C. 1.8 percent
D. 7.5 percent
8 What was the growth recorded by the manufacturing sector during 2005-06?
A. 4.2 percent
B. 5.5percent
C. 7.3percent
D. 8.6percent
9 Macro Economics was introduced by
A. Alfred Marshall
B. J.M. Keynes
C. N.W. Senior
D. J.B. Clark
10 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

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