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

Welfare economics is the branch of economics which deals with:

Question # 2

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

Question # 3

As more of a good is consumed, then total utility typically:

Question # 4

What is the interest rate effect that explains why the aggregate demand curve slopes downward?

Question # 5

What was the production of wheat in million tones during 2005-06?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 A good for which income and quantity demanded are inversely related is known as:
A. Inferior good
B. Complementary good
C. Normal good
D. None of the given options
2 The production of gram in 2005-06, in thousand tons was:
A. 450
B. 500
C. 527
D. 750
3 It is a Federal Tax:
A. Excise duty
B. Local Tax
C. Property Tax
D. None
4 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
5 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
6 What was the difficulty in the barter System:
A. Excess of goods
B. Difference language
C. Lack of co-incidence
D. Difference in profession
7 The GDP growth rate of agriculture sector in 2005-06 was:
A. 2.5 percent
B. 4.3 percent
C. 1.6 percent
D. 9.3 percent
8 In inflation prices:
A. Increase
B. Do not change
C. Decrease
D. Become zero
9 Welfare economics is the branch of economics which deals with:
A. Positive issues
B. Normative issues
C. Micro issues
D. Macro issues
10 If we compare Gross Domestic Product (GDP) with Gross National
1. Product (GNP) then:
A. GNP = GDP - Net income from abroad
B. GNP = GDP + Net income from abroad
C. GNP = NNP - Net income from abroad
D. GNP = NNP + Net income from abroad

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