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 economist presented the Cardinal Theory of Utility:

Question # 2

Mairani Dam is being built in Balochistan Gomal Zam Dam in NWFP and Diamer Bhasha Dam in the region of:

Question # 3

"Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?

Question # 4

For a study of the long term growth of the economy, we use:

Question # 5

In 2005-06 total production of fish inland and marine in Pakistan was:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 What remains after deduction of direct taxes lions the personal income:
A. NNI
B. DPI
C. NDI
D. GNP
2 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
3 Which of the following event will lead towards cost-push inflation and therefore stagflation?
A. An increase in taxes on individuals
B. A decrease in real interest rates
C. A union settlement that increases wage levels
D. An increase in government purchases
4 Price floor results in:
A. All of the given options
B. Excess supply.
C. Equilibrium
D. Excess demand
5 In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:
A. 190
B. 221
C. 350
D. 475
6 To find the profit maximizing level of output, a firm finds the output level where:
A. Price equals marginal cost
B. Marginal revenue and average total cost
C. Price equals marginal revenue
D. None of the given options
7
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
8 The supply of perishable goods is:
A. Fixed
B. Variable
C. Minor change
D. Zero
9 Which of the following is TRUE for a Giffen good?
A. Its marginal utility is zero
B. Its demand curve is perfectly elastic
C. Its substitution effect is positive
D. Its demand curve is positively sloped
10 Income elasticity show the relationship between:
A. Income and demand
B. Income and consumption
C. Income and price
D. Income and saving

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