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

During a year aggregate value of produced goods and services of a country is called:

Question # 2

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

Question # 3

Which group of the following showed a negative growth of -58.6 percent during 2005-06?

Question # 4

Who is responsible for profit and loss in the business:

Question # 5

In monopoly, which of the following is NOT true?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Reward the labour is:
A. Interest
B. Wages
C. Profit
D. Rent
2 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
3 Which of the following is TRUE for a Giffen good?
A. Its marginal utility is zero
B. Its demand curve is perfectly elastic
C. Its substitution effect is positive
D. Its demand curve is positively sloped
4 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
5 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None
6 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
7 In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:
A. 190
B. 221
C. 350
D. 475
8 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
9 Ushr implies on:
A. Agricultural product
B. Industrial product
C. Agricultural & industrial product
D. None of these
10 Average revenue is equal to:
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost

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