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 remains after deduction of direct taxes lions the personal income:

Question # 2

A monopolistically competitive firm in short run equilibrium:

Question # 3

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

Question # 4

In inflation prices:

Question # 5

The share of agriculture in the national economy in 2005-06, was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
2 International trade has the benefits:
A. One
B. Three
C. Two
D. Unlimited
3 As compared to existing firms, a new firm entering in monopolist market has:
A. High costs
B. Low costs
C. Equal costs
D. None of the given options
4 Which group of the following showed a negative growth of -58.6 percent during 2005-06?
A. Chemicals
B. Petroleum
C. Electricals
D. Basic Metals
5 Which of the following is TRUE for a Giffen good?
A. Its marginal utility is zero
B. Its demand curve is perfectly elastic
C. Its substitution effect is positive
D. Its demand curve is positively sloped
6 What was the production of cotton in 2005-06?
A. 12.4million bales
B. 16.2 millionbales
C. 18.8 million bales
D. 24.1 million bales
7 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
8 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
9
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.
10 What is deducted from GNP to find GDP:
A. Depreciation allowance
B. Net income received from abroad
C. Indirect as
D. Transfer payments

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