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

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

Question # 2

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

Question # 3

Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?

Question # 4

In inflation prices:

Question # 5

The quality of a good which satisfies a human want is called as:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The shape of AR and MR under perfect competition is:
A. Vertical
B. U-shape
C. Horizontal to ox-axis
D. None of these
2
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.
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 What was the contribution of the services sector to the GNP in FY 2005-06.
A. 9.2 percent
B. 3.5 percent
C. 8.8 percent
D. 4.7 percent
5 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
6 For a study of the long term growth of the economy, we use:
A. Real GNP
B. Nominal GNP
C. Personal income
D. Disposable personal income
7 In 2005-06 the real GDP growth of USA was 3.5 percent, of China 9.9 percent, Japan 2.7 percent, India 8.0 percent and of Pakistan was:
A. 6.6 percent
B. 1.6 percent
C. 4.6 percent
D. 5.0 percent
8 "Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?
A. Consumption curve
B. Supply curve
C. Laffer curve
D. Investment curve
9 Name the water project to be completed in April 2009:
A. Gomal Zam Dam
B. Rainee Canal
C. Kachhi Canal
D. Mirani Dam
10 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall

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