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

Real GDP is equal to:

Question # 2

Reward the labour is:

Question # 3

"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?

Question # 4

To find the profit maximizing level of output, a firm finds the output level where:

Question # 5

The GDP growth rate of agriculture sector in 2005-06 was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The long run aggregate supply curve will shift to the right if:
A. The price level increases.
B. Factors of production (such as labor and capital) increase
C. Expenditures (such as consumption and net exports) increase.
D. The prices of inputs used to produce goods and services (such as wages and the price of oil)descreases
2 If money supply is fixed by the central bank then in interest rate money supply space, money supply curve will be:
A. Horizontal
B. Vertical
C. Negatively sloped
D. Positively sloped
3 The shape of AR and MR under perfect competition is:
A. Vertical
B. U-shape
C. Horizontal to ox-axis
D. None of these
4 How much amount was allocated for Prime Minister's special intiative for livestock during 2005-06 ?
A. Rs. 672 million
B. Rs. 812 million
C. Rs. 1,696 million
D. Rs. 2,400 million
5 Macro Economics was introduced by
A. Alfred Marshall
B. J.M. Keynes
C. N.W. Senior
D. J.B. Clark
6 What was the share of the major crops of value added in agriculture in 2005-06?
A. 24.2percent
B. 35.2percent
C. 39.1percent
D. 45percent
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
A monopolistically competitive firm in the long run equilibrium:
A. Will make negative profit.
B. Will make zero profit.
C. Will make positive profit
D. Any of the given are possible.
9 Who criticized Prof. Robbin's definition?
A. Marshall, J.B
B. Beveridge
C. Clark
D. Pigeou
10 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.

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