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

The other name of law of diminishing return is:

Question # 2

Income elasticity show the relationship between:

Question # 3

The supply of perishable goods is:

Question # 4

Which of the following event will lead towards cost-push inflation and therefore stagflation?

Question # 5

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?
A. A.W. Phillips
B. John Maynard Keynes
C. Joseph Schumpeter
D. Milton Friedman
2 The GDP growth rate of agriculture sector in 2005-06 was:
A. 2.5 percent
B. 4.3 percent
C. 1.6 percent
D. 9.3 percent
3 In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:
A. 190
B. 221
C. 350
D. 475
4 Price floor results in:
A. All of the given options
B. Excess supply.
C. Equilibrium
D. Excess demand
5 The supply of land is:
A. Infinity
B. Fixed
C. Variable
D. Zero
6 During a year aggregate value of produced goods and services of a country is called:
A. Per-capita income
B. Net national income
C. Personal income
D. Gross national product
7 In 2005-06, the crop area of cotton was 3,096 thousand hectares and the crop area of rice was:
A. 2,620
B. 982
C. 8,303
D. 4,702
8
A monopolistically competitive firm in short run equilibrium:
A.
Will make negative profit (lose money).
B. Will make zero profit (break-even)
C. Will make positive profit
D. Any of the given are possible.
9 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
10 What was the production of rice in million tons in 2005-06?
A. 4.4
B. 5.5
C. 6.6
D. 7.7

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