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

Rent of building is included in:

Question # 2

According to law of increasing return, marginal product:

Question # 3

What was the difficulty in the barter System:

Question # 4

Who wrote "The Nature and Significance of Economics":

Question # 5

What was the contribution of the services sector to the GNP in FY 2005-06.

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
2 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
3 Marginal cost curve always intersects average cost curve at:
A. The maximum point
B. The central point
C. The minimum point
D. The vertical point
4
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.
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 The other name of law of diminishing return is:
A. Law of supply
B. Law of diminishing marginal utility
C. Law of demand
D. Law of increasing cost
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 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
9 Rent of building is included in:
A. Fixed cost
B. Variable cost
C. Marginal cost
D. Selling cost
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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