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

Give the share of commodity producing the sector in the GNP in 2005-06?

Question # 2

A tax on the accounting profits of corporations is known as:

Question # 3

Under the kinked demand curve model, an increase in marginal cost will lead to:

Question # 4

Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?

Question # 5

The price elasticity of demand measures the responsiveness of quantity demanded to:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
2 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None
3 What was the production of wheat in million tones during 2005-06?
A. 16.6
B. 21.7
C. 26.2
D. 30.8
4 According to law of diminishing marginal utility, the marginal utility:
A. Increases
B. Remains constant
C. Diminshes
D. Negative
5 The per capita income was $742 in 2004-05 but in 2005-06, rose to:
A. $ 795
B. $ 847
C. $ 880
D. $900
6 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
7 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
8 Who is the writer of Wealth of Nation?
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
9 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
10 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say

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