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

Who described Economies as a science of wealth:

Question # 2

During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:

Question # 3

Macro Economics was introduced by

Question # 4

In 2005-06 which country had the highest growth rate among the following?

Question # 5

A firm is charging a different price for each unit purchased by a consumer.This is called:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
2 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
3 The price elasticity of demand for any good must be less than or equal to zero unless:
A. The good is a necessity.
B. The good is a luxury.
C. The good is a Ciffen good.
D. None of the given options.
4 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
5 What is deducted from GNP to find GDP:
A. Depreciation allowance
B. Net income received from abroad
C. Indirect as
D. Transfer payments
6 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
7 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
8 What was the production of rice in million tons in 2005-06?
A. 4.4
B. 5.5
C. 6.6
D. 7.7
9 National income does not include:
A. Profit
B. Wages
C. Interest
D. Transfer payments
10 Reward for capital is called:
A. Rent
B. Interest
C. Wages
D. Profit

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