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

Question # 2

What was the production of cotton in 2005-06?

Question # 3

In 2005-06, the crop area of sugarcane in thousand hectares was:

Question # 4

The real exchange rate is defined as the:

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 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
2 Which of the following large-scale items showed a negative growth of -47.97 percent during July-March 2005-06?
A. Sugar
B. Vegetable Ghee
C. Billets
D. Cement
3 What was the production of rice in million tons in 2005-06?
A. 4.4
B. 5.5
C. 6.6
D. 7.7
4
A monopolistically competitive firm in the long run equilibrium:
A. Will make negative profit.
B. Will make zero profit.
C. Will make positive profit
D. Any of the given are possible.
5 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
6 What is deducted from GNP to find GDP:
A. Depreciation allowance
B. Net income received from abroad
C. Indirect as
D. Transfer payments
7
For a firm buying labor competitively, the marginal input cost is equal to the:
A. Wage
B. Interest rate
C. Price of output
D. Cost of raw materials
8 Macro Economics was introduced by
A. Alfred Marshall
B. J.M. Keynes
C. N.W. Senior
D. J.B. Clark
9 Inflation will be useful for:
A. Labourers
B. Industrialist
C. Consumers
D. Pensioners
10 The other name of law of diminishing return is:
A. Law of supply
B. Law of diminishing marginal utility
C. Law of demand
D. Law of increasing cost

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