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

The elasticity of demand of durable goods is:

Question # 2

In 2005-06 the real GDP growth of USA was 3.5 percent, of China 9.9 percent, Japan 2.7 percent, India 8.0 percent and of Pakistan was:

Question # 3

The total cost (TC) function is given as: TC = 200 + 5Q. What is the fixed cost?

Question # 4

Who is the writer of Wealth of Nation?

Question # 5

Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Inflation on prices:
A. Decrease
B. Remains constant
C. Increase
D. Become zero
2 A tax on the accounting profits of corporations is known as:
A. Sales tax
B. Excise tax
C. Corporate income tax
D. Personal income tax
3 Reward the labour is:
A. Interest
B. Wages
C. Profit
D. Rent
4 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
5 The shape of AR and MR under perfect competition is:
A. Vertical
B. U-shape
C. Horizontal to ox-axis
D. None of these
6 For a study of the long term growth of the economy, we use:
A. Real GNP
B. Nominal GNP
C. Personal income
D. Disposable personal income
7 During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:
A. 3.5 million tones
B. 4.2 million tones
C. 5.2 million tones
D. 6.7 million tones
8 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
9 In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:
A. The aggregate demand, the short-run aggregate supply and the long-run aggregate supply curves
B. The short-run aggregate supply and the long-run aggregate supply curves
C. The aggregate demand and the short-run aggregate supply curves
D. The aggregate demand and the long-run aggregate supply curves
10 How many methods can be used for cultivation:
A. One
B. Two
C. Three
D. Four

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