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

The price elasticity of demand measures the responsiveness of quantity demanded to:

Question # 3

The long run aggregate supply curve will shift to the right if:

Question # 4

Which of the following large-scale items showed a negative growth of -47.97 percent during July-March 2005-06?

Question # 5

In 2005-06, the crop area of cotton was 3,096 thousand hectares and the crop area of rice was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None
3 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
4 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
5 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
6 Welfare economics is the branch of economics which deals with:
A. Positive issues
B. Normative issues
C. Micro issues
D. Macro issues
7 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
8 In 2005-06 total production of fish inland and marine in Pakistan was:
A. 5,81,000 tons
B. 6,72,000 tons
C. 7,44,000 tons
D. 8,33,000 tons
9 National income does not include:
A. Profit
B. Wages
C. Interest
D. Transfer payments
10 Personal income includes:
A. Direct taxes
B. Indirect taxes
C. Undivided profit
D. Both 2nd and 3rd

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