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

Which economist presented the Cardinal Theory of Utility:

Question # 2

National income does not include:

Question # 3

Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?

Question # 4

Who criticized Prof. Robbin's definition?

Question # 5

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

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 If money supply is fixed by the central bank then in interest rate money supply space, money supply curve will be:
A. Horizontal
B. Vertical
C. Negatively sloped
D. Positively sloped
3 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
4 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
5 The real exchange rate is defined as the:
A. Market exchange rate adjusted for prices
B. Market exchange rate adjusted for interest rates
C. Market exchange rate
D. Exchange rate determined by the government
6 The quality of a good which satisfies a human want is called as:
A. Service
B. Cost
C. Utility
D. None
7 It is a Federal Tax:
A. Excise duty
B. Local Tax
C. Property Tax
D. None
8 Which of the following will be TRUE if real income rose and the interest rate fell following an increase in government purchases?
A. IS curve must be vertical
B. LM curve must be vertical
C. Central Bank must have increased the money supply at the same time
D. Central Bank must have decreased the money supply at the same time
9 In the FY 2005-06 the GDP growth rate of Euro area was 1.3 percent, the developing nations 8.6 percent and the world was:
A. 3.5 percent
B. 4.8 percent
C. 4.5 percent
D. 5.5 percent
10 What was the percentage in the production of cotton yarn during July-March 2005-06?
A. 11.1 percent
B. 15.2 percent
C. 17.6 percent
D. 19.2 percent

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