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

00:00
Question # 1

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

Question # 2

Canons of taxation describes:

Question # 3

Reward the labour is:

Question # 4

For a firm buying labor competitively, the marginal input cost is equal to the:

Question # 5

In inflation prices:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 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
3 Which Economists presented the law of diminishing marginal utility:
A. Robbins
B. Malthus
C. Adam Smith
D. Marshall
4 The elasticity of demand of durable goods is
A. More than unity
B. Equal to unity
C. Less than unity
D. Zero
5 What was the production of wheat in million tones during 2005-06?
A. 16.6
B. 21.7
C. 26.2
D. 30.8
6 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
7 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
8 The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?
A. 5Q
B. 5
C. 5 + (200/Q)
D. 200
9 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
10 What was the growth recorded by the manufacturing sector during 2005-06?
A. 4.2 percent
B. 5.5percent
C. 7.3percent
D. 8.6percent

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