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

Phases of trade cycle are:

Question # 2

What remains after deduction of direct taxes lions the personal income:

Question # 3

Inflation on prices:

Question # 4

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

Question # 5

A good for which income and quantity demanded are inversely related is known as:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2
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.
3 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
4 Average revenue is equal to:
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
5 Who is responsible for profit and loss in the business:
A. Capitalist
B. Entrepreneur
C. Labour
D. Middleman
6 "Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?
A. Consumption curve
B. Supply curve
C. Laffer curve
D. Investment curve
7 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
8 The interest rate parity is the basic identity that relates which of the following?
A. Interest rates and exchange rates
B. Interest rates and inflation rate
C. Exchange rates and inflation rate
D. Discount rate and inflation rate
9 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
10 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four

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