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

Question # 2

Which of the following is TRUE for a Giffen good?

Question # 3

The real exchange rate is defined as the:

Question # 4

Who criticized Prof. Robbin's definition?

Question # 5

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

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 In the FY 2005-06 the GDP growth rate of Euro area was 1.3 percent, the developing nations 8.6 percent and the world was:
A. 3.5 percent
B. 4.8 percent
C. 4.5 percent
D. 5.5 percent
2
For a firm buying labor competitively, the marginal input cost is equal to the:
A. Wage
B. Interest rate
C. Price of output
D. Cost of raw materials
3 In 2005-06 which country had the highest growth rate among the following?
A. Egypt
B. Singapore
C. Kuwait
D. Nigeria
4 The methods of measuring elasticity of supply are:
A. Three
B. Two
C. Four
D. Five
5 The share of the automobile group in manufacturing group in 2005-06 was:
A. 20.2 percent
B. 29.7 percent
C. 14.4 percent
D. 16.8 percent
6 The long run aggregate supply curve will shift to the right if:
A. The price level increases.
B. Factors of production (such as labor and capital) increase
C. Expenditures (such as consumption and net exports) increase.
D. The prices of inputs used to produce goods and services (such as wages and the price of oil)descreases
7 How many methods can be used for cultivation:
A. One
B. Two
C. Three
D. Four
8 "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
9 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
10 The real exchange rate is defined as the:
A. Market exchange rate adjusted for prices
B. Market exchange rate adjusted for interest rates
C. Market exchange rate
D. Exchange rate determined by the government

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