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 of the following event will lead towards cost-push inflation and therefore stagflation?

Question # 2

During a year aggregate value of produced goods and services of a country is called:

Question # 3

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

Question # 4

Who is the writer of Wealth of Nation?

Question # 5

Who described Economies as a science of wealth:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Double counting in national income refers to:
A. Counting a product more than once
B. Counting a product at the final stage of output process
C. Counting both as product and as factor payment
D. Counting both as real goods and as money flow
2 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
3 Which economist presented the Cardinal Theory of Utility:
A. Marshall
B. Canon
C. Kroose
D. J.B. Say
4 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
5 In 2005-06 the share of chemicals was 9.08 percent and the share of electricals was:
A. 4.6 percent
B. 8.2 percent
C. 11.78 percent
D. 16.3 percent
6 The methods of measuring elasticity of supply are:
A. Three
B. Two
C. Four
D. Five
7
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.
8 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
9 The interest rate parity is the basic identity that relates which of the following?
A. Interest rates and exchange rates
B. Interest rates and inflation rate
C. Exchange rates and inflation rate
D. Discount rate and inflation rate
10 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

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