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 Diamer Bhasha Dam will be completed in :

Question # 2

As more of a good is consumed, then total utility typically:

Question # 3

The methods of measuring elasticity of supply are:

Question # 4

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

Question # 5

Which of the following is TRUE for a Giffen good?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
2 In inflation prices:
A. Increase
B. Do not change
C. Decrease
D. Become zero
3 The elasticity of demand of durable goods is:
A. Zero
B. More than unity
C. Less than unity
D. Equal to unity
4 The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?
A. 5Q
B. 5
C. 5 + (200/Q)
D. 200
5
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.
6 What was the contribution of the services sector to the GNP in FY 2005-06.
A. 9.2 percent
B. 3.5 percent
C. 8.8 percent
D. 4.7 percent
7 The economy gets prosperity during:
A. Recession
B. Boom
C. Depression
D. Recovery
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
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
10 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed

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