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 total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

Question # 2

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

Question # 3

A monopolistically competitive firm in short run equilibrium:

Question # 4

In inflation prices:

Question # 5

A good for which income and quantity demanded are inversely related is known as:

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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 Personal income includes:
A. Direct taxes
B. Indirect taxes
C. Undivided profit
D. Both 2nd and 3rd
3
In monopoly, which of the following is NOT true?
A. Products are differentiated
B.
There is freedom of entry and exit into the industry in the long run
C. The firm is a price maker
D. There is one main seller
4 What was the number of buffaloes in 2005-06?
A. 12 million
B. 28.4 million
C. 34 million
D. 40 million
5 What is the interest rate effect that explains why the aggregate demand curve slopes downward?
A. It refers to the effect of changes in the price level on quantity of investment demanded which in turn affects interest rates
B.
It refers to the effect of interest rates on borrowing which in turn affects consumption spending.
C. It refers to the effect of changes in the price level on interest rates which in turn affects the quantity of investment demanded
D. It refers to the shifts in aggregate demand when interest rates change
6 Which of the following event will lead towards cost-push inflation and therefore stagflation?
A. An increase in taxes on individuals
B. A decrease in real interest rates
C. A union settlement that increases wage levels
D. An increase in government purchases
7 A market is said to be in equilibrium when:
A. Demand equals output
B. There is downward pressure on price
C. The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price
D. All buyers are able to find sellers willing to sell to them at the current price
8 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
9 Income elasticity show the relationship between:
A. Income and demand
B. Income and consumption
C. Income and price
D. Income and saving
10 Which of the following will be TRUE if real income rose and the interest rate fell following an increase in government purchases?
A. IS curve must be vertical
B. LM curve must be vertical
C. Central Bank must have increased the money supply at the same time
D. Central Bank must have decreased the money supply at the same time

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