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

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

Question # 2

"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 # 3

The shape of AR and MR under perfect competition is:

Question # 4

Give the share of commodity producing the sector in the GNP in 2005-06?

Question # 5

Ushr implies on:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who presented the quantity theory of money:
A. Marshall
B. Robbins
C. Taussig
D. Keynes
2 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
3 If pen and ink are complements, then an increase in the price of pen will cause:
A. An increase in the price of ink
B. Less ink to the demanded at each price
C. A decrease in the demand for pen
D. A rightward shift in the demand curve for ink
4 What was the contribution of the services sector to the GNP in FY 2005-06.
A. 9.2 percent
B. 3.5 percent
C. 8.8 percent
D. 4.7 percent
5 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
6
In monopoly, which of the following is NOT true?
A. Products are differentiated
B.
There is freedom of entry and exit into the industry in the long run
C. The firm is a price maker
D. There is one main seller
7 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return
8 The methods of measuring elasticity of supply are:
A. Three
B. Two
C. Four
D. Five
9 Which group of the following showed a negative growth of -58.6 percent during 2005-06?
A. Chemicals
B. Petroleum
C. Electricals
D. Basic Metals
10 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

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