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

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

Question # 2

The interest rate parity is the basic identity that relates which of the following?

Question # 3

Rent of building is included in:

Question # 4

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

Question # 5

For a firm buying labor competitively, the marginal input cost is equal to the:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who wrote "The Nature and Significance of Economics":
A. Adam Smith
B. Marshall
C. Robbins
D. Keynes
2 When national income is increases:
A. Standard of living increases
B. Standard of living decreases
C. Remains same
D. Bad thing
3 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
4 Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?
A. A.W. Phillips
B. John Maynard Keynes
C. Joseph Schumpeter
D. Milton Friedman
5
The aggregate supply curve is the relationship between:
A.
The price level and the real domestic output purchased
B.
The price level and the real domestic output produced
C.
The price level which producers are willing to accept and the price level purchasers are willing to pay.
D.
The real domestic output purchased and the real domestic output produced.
6 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
7 A nation's balance of payments can be affected by changes in:
A. Foreign income
B. The differential between domestic and foreign interst rates
C. The real exchange rate
D. All of the given options
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 Reward for capital is called:
A. Rent
B. Interest
C. Wages
D. Profit
10 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return

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