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

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:

Question # 2

Who is the writer of Wealth of Nation?

Question # 3

A monopolistically competitive firm in the long run equilibrium:

Question # 4

In 2005-06 total production of fish inland and marine in Pakistan was:

Question # 5

The quality of a good which satisfies a human want is called as:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who criticized Prof. Robbin's definition?
A. Marshall, J.B
B. Beveridge
C. Clark
D. Pigeou
2 Inflation on prices:
A. Decrease
B. Remains constant
C. Increase
D. Become zero
3 In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:
A. The aggregate demand, the short-run aggregate supply and the long-run aggregate supply curves
B. The short-run aggregate supply and the long-run aggregate supply curves
C. The aggregate demand and the short-run aggregate supply curves
D. The aggregate demand and the long-run aggregate supply curves
4 If total expenditure decrease with the rise in prices elasticity of demand will be:
A. Equal to unity
B. Less than unity
C. Greater than unity
D. Equal to zero
5 What is deducted from GNP to find GDP:
A. Depreciation allowance
B. Net income received from abroad
C. Indirect as
D. Transfer payments
6 What was the number of buffaloes in 2005-06?
A. 12 million
B. 28.4 million
C. 34 million
D. 40 million
7 Give the production of sugarcane in Pakistan in 2005-06?
A. 22 millions tons
B. 33 million tons
C. 44 million tons
D. 55 million tons
8 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.
9
The market structure in which strategic considerations are most important is:
A. Monopolistic competition.
B. Oligopoly.
C. Pure competition.
D. Pure monopoly.
10 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None

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