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

00:00
Question # 1

Who is the writer of Wealth of Nation?

Question # 2

Inflation will be useful for:

Question # 3

In monopoly, which of the following is NOT true?

Question # 4

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

Question # 5

Who wrote "The Nature and Significance of Economics":

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
2 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
3 What was the difficulty in the barter System:
A. Excess of goods
B. Difference language
C. Lack of co-incidence
D. Difference in profession
4 Canons of taxation describes:
A. Marshall
B. Keynes
C. Robbins
D. Adam Smith
5 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
6 The supply of land is:
A. Infinity
B. Fixed
C. Variable
D. Zero
7 National income does not include:
A. Profit
B. Wages
C. Interest
D. Transfer payments
8 If total expenditure decrease with the rise in prices elasticity of demand will be:
A. Equal to unity
B. Less than unity
C. Greater than unity
D. Equal to zero
9 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
10 In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:
A. The aggregate demand, the short-run aggregate supply and the long-run aggregate supply curves
B. The short-run aggregate supply and the long-run aggregate supply curves
C. The aggregate demand and the short-run aggregate supply curves
D. The aggregate demand and the long-run aggregate supply curves

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