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

If total expenditure decrease with the rise in prices elasticity of demand will be:

Question # 2

What was the production of rice in million tons in 2005-06?

Question # 3

Give the production of sugarcane in Pakistan in 2005-06?

Question # 4

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

Question # 5

Canons of taxation describes:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 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
3 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
4 An increase in supply is shown by:
A. Shifting the supply curve to the left
B. Shifting the supply curve to the right
C. Upward movement along the supply curve
D. Downward movement along the supply curve
5 In 2005-06 which country had the highest growth rate among the following?
A. Egypt
B. Singapore
C. Kuwait
D. Nigeria
6 Name the water project to be completed in April 2009:
A. Gomal Zam Dam
B. Rainee Canal
C. Kachhi Canal
D. Mirani Dam
7 Income elasticity show the relationship between:
A. Income and demand
B. Income and consumption
C. Income and price
D. Income and saving
8 For knowing the spending capacity of the household sector, we have to use the concept of:
A. National income
B. Personal income
C. Private income
D. Personal disposable income
9 In the FY 2005-06 the GDP growth rate of Euro area was 1.3 percent, the developing nations 8.6 percent and the world was:
A. 3.5 percent
B. 4.8 percent
C. 4.5 percent
D. 5.5 percent
10 During a year aggregate value of produced goods and services of a country is called:
A. Per-capita income
B. Net national income
C. Personal income
D. Gross national product

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