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

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

Question # 2

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

Question # 3

In 2005-06 the real GDP growth of USA was 3.5 percent, of China 9.9 percent, Japan 2.7 percent, India 8.0 percent and of Pakistan was:

Question # 4

The methods of measuring elasticity of supply are:

Question # 5

"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?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 "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
2 The economy gets maximum prosperity during:
A. Recession
B. Recovery
C. Boom
D. Depression
3 Double counting in national income refers to:
A. Counting a product more than once
B. Counting a product at the final stage of output process
C. Counting both as product and as factor payment
D. Counting both as real goods and as money flow
4 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
5 When national income is increases:
A. Standard of living increases
B. Standard of living decreases
C. Remains same
D. Bad thing
6 The shape of AR and MR under perfect competition is:
A. Vertical
B. U-shape
C. Horizontal to ox-axis
D. None of these
7 Which group of the following showed a negative growth of -58.6 percent during 2005-06?
A. Chemicals
B. Petroleum
C. Electricals
D. Basic Metals
8 What was the difficulty in the barter System:
A. Excess of goods
B. Difference language
C. Lack of co-incidence
D. Difference in profession
9 The real exchange rate is defined as the:
A. Market exchange rate adjusted for prices
B. Market exchange rate adjusted for interest rates
C. Market exchange rate
D. Exchange rate determined by the government
10 A firm is charging a different price for each unit purchased by a consumer.This is called:
A. First-degree price discrimination
B. Second-degree price discrimination
C. Third-degree price discrimination
D. None of the given options

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