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

As compared to existing firms, a new firm entering in monopolist market has:

Question # 2

What was the contribution of the services sector to the GNP in FY 2005-06.

Question # 3

Which economist presented the Cardinal Theory of Utility:

Question # 4

What was the number of buffaloes in 2005-06?

Question # 5

The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 If pen and ink are complements, then an increase in the price of pen will cause:
A. An increase in the price of ink
B. Less ink to the demanded at each price
C. A decrease in the demand for pen
D. A rightward shift in the demand curve for ink
3
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
4 Due to devaluation exports become:
A. Smaller
B. Larger
C. Cheaper
D. Expensive
5 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
6 If total expenditure decrease with the rise in prices elasticity of demand will be:
A. Equal to unity
B. Less than unity
C. Greater than unity
D. Equal to zero
7 Who criticized Prof. Robbin's definition?
A. Marshall, J.B
B. Beveridge
C. Clark
D. Pigeou
8 In 2005-06 the growth rate of Saudi Arabia was 6.5 percent, Kuwait 8.5 percent and Bangladesh 5.8 percent. What was the growth rate of Iran?
A. 4.2 percent
B. 3.1 percent
C. 6.7 percent
D. 5.9 percent
9 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return
10 Give the share of commodity producing the sector in the GNP in 2005-06?
A. 2.5 percent
B. 4.3percent
C. 3.8percent
D. 7.2percent

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