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

Personal income includes:

Question # 2

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

Question # 3

Price floor results in:

Question # 4

The per capita income was $742 in 2004-05 but in 2005-06, rose to:

Question # 5

When national income is increases:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 The production of gram in 2005-06, in thousand tons was:
A. 450
B. 500
C. 527
D. 750
3 Who described Economies as a science of wealth:
A. Piguo
B. Adam Smith
C. Robbins
D. Marshall
4 Reward the labour is:
A. Interest
B. Wages
C. Profit
D. Rent
5 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
6 Who is responsible for profit and loss in the business:
A. Capitalist
B. Entrepreneur
C. Labour
D. Middleman
7 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
8 The share of agriculture in the national economy in 2005-06, was:
A. 21.6percent
B. 16.2percent
C. 12.8percent`
D. 13.4percent
9 Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?
A. A.W. Phillips
B. John Maynard Keynes
C. Joseph Schumpeter
D. Milton Friedman
10 What is the interest rate effect that explains why the aggregate demand curve slopes downward?
A. It refers to the effect of changes in the price level on quantity of investment demanded which in turn affects interest rates
B.
It refers to the effect of interest rates on borrowing which in turn affects consumption spending.
C. It refers to the effect of changes in the price level on interest rates which in turn affects the quantity of investment demanded
D. It refers to the shifts in aggregate demand when interest rates change

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