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

00:00
Question # 1

Phases of trade cycle are:

Question # 2

Price floor results in:

Question # 3

Which economist presented the Cardinal Theory of Utility:

Question # 4

During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:

Question # 5

The methods of measuring elasticity of supply are:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 In 2005-06 the real GDP growth of USA was 3.5 percent, of China 9.9 percent, Japan 2.7 percent, India 8.0 percent and of Pakistan was:
A. 6.6 percent
B. 1.6 percent
C. 4.6 percent
D. 5.0 percent
2 Personal income includes:
A. Direct taxes
B. Indirect taxes
C. Undivided profit
D. Both 2nd and 3rd
3 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
4 The price elasticity of demand for any good must be less than or equal to zero unless:
A. The good is a necessity.
B. The good is a luxury.
C. The good is a Ciffen good.
D. None of the given options.
5 The methods of measuring elasticity of supply are:
A. Three
B. Two
C. Four
D. Five
6 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
7 An increase in supply is shown by:
A. Shifting the supply curve to the left
B. Shifting the supply curve to the right
C. Upward movement along the supply curve
D. Downward movement along the supply curve
8
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.
9 During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:
A. 3.5 million tones
B. 4.2 million tones
C. 5.2 million tones
D. 6.7 million tones
10 "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

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