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

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?

Question # 2

The other name of law of diminishing return is:

Question # 3

Income elasticity show the relationship between:

Question # 4

Give the share of commodity producing the sector in the GNP in 2005-06?

Question # 5

If we compare Gross Domestic Product (GDP) with Gross National
1. Product (GNP) then:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
2 Who is responsible for profit and loss in the business:
A. Capitalist
B. Entrepreneur
C. Labour
D. Middleman
3 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
4 What was the difficulty in the barter System:
A. Excess of goods
B. Difference language
C. Lack of co-incidence
D. Difference in profession
5 Which of the following is true about supply curve under monopoly?
A. It is same as the competitive market supply curve
B. It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs
C. It is the result of market power and production costs
D. None of the given statements is true
6 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
7 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
8 Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?
A. Indonesia
B. Malaysia
C. Vietnam
D. Thailand
9
The market structure in which strategic considerations are most important is:
A. Monopolistic competition.
B. Oligopoly.
C. Pure competition.
D. Pure monopoly.
10 National income does not include:
A. Profit
B. Wages
C. Interest
D. Transfer payments

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