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

International trade has the benefits:

Question # 2

A market is said to be in equilibrium when:

Question # 3

As more of a good is consumed, then total utility typically:

Question # 4

To find the profit maximizing level of output, a firm finds the output level where:

Question # 5

The quality of a good which satisfies a human want is called as:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 The price elasticity of demand for any good must be less than or equal to zero unless:
A. The good is a necessity.
B. The good is a luxury.
C. The good is a Ciffen good.
D. None of the given options.
2
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
3 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
4 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
5 If we compare Gross Domestic Product (GDP) with Gross National
1. Product (GNP) then:
A. GNP = GDP - Net income from abroad
B. GNP = GDP + Net income from abroad
C. GNP = NNP - Net income from abroad
D. GNP = NNP + Net income from abroad
6 A nation's balance of payments can be affected by changes in:
A. Foreign income
B. The differential between domestic and foreign interst rates
C. The real exchange rate
D. All of the given options
7 Ushr implies on:
A. Agricultural product
B. Industrial product
C. Agricultural & industrial product
D. None of these
8 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
9 Marginal cost curve always intersects average cost curve at:
A. The maximum point
B. The central point
C. The minimum point
D. The vertical point
10 A firm is charging a different price for each unit purchased by a consumer.This is called:
A. First-degree price discrimination
B. Second-degree price discrimination
C. Third-degree price discrimination
D. None of the given options

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