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

During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:

Question # 2

Marginal cost curve always intersects average cost curve at:

Question # 3

The interest rate parity is the basic identity that relates which of the following?

Question # 4

What was the contribution of the services sector to the GNP in FY 2005-06.

Question # 5

The GDP growth rate of agriculture sector in 2005-06 was:

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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 Consumer goods are those goods which are used by a man:
A. Directly
B. Off and On
C. Indirectly
D. Never
3 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
4 Who is the writer of Wealth of Nation?
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
5 Personal income includes:
A. Direct taxes
B. Indirect taxes
C. Undivided profit
D. Both 2nd and 3rd
6
For a firm buying labor competitively, the marginal input cost is equal to the:
A. Wage
B. Interest rate
C. Price of output
D. Cost of raw materials
7 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
8 Who criticized Prof. Robbin's definition?
A. Marshall, J.B
B. Beveridge
C. Clark
D. Pigeou
9 Who wrote "The Nature and Significance of Economics":
A. Adam Smith
B. Marshall
C. Robbins
D. Keynes
10 Who is responsible for profit and loss in the business:
A. Capitalist
B. Entrepreneur
C. Labour
D. Middleman

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