NAT IIM Management Science Economy Online Test for Pakistani Students

MCQ's Test For NAT II Management Science Economy

Try The MCQ's Test For NAT II Management Science Economy

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NAT II Management Science Economy

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Question # 1

Income elasticity show the relationship between:

Question # 2

A market is said to be in equilibrium when:

Question # 3

A nation's balance of payments can be affected by changes in:

Question # 4

In monopoly, which of the following is NOT true?

Question # 5

Which economist presented the Cardinal Theory of Utility:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 In 2005-06 the growth rate of Saudi Arabia was 6.5 percent, Kuwait 8.5 percent and Bangladesh 5.8 percent. What was the growth rate of Iran?
A. 4.2 percent
B. 3.1 percent
C. 6.7 percent
D. 5.9 percent
3 Rent of building is included in:
A. Fixed cost
B. Variable cost
C. Marginal cost
D. Selling cost
4 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
5 An increase in supply is shown by:
A. Shifting the supply curve to the left
B. Shifting the supply curve to the right
C. Upward movement along the supply curve
D. Downward movement along the supply curve
6 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
7 The price elasticity of demand measures the responsiveness of quantity demanded to:
A. Quantity demanded
B. Quantity supplied
C. Price
D. Output
8 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four
9 When price falls supply:
A. Expands
B. Contracts
C. Remains zero
D. Becomes fixed
10 Due to devaluation exports become:
A. Smaller
B. Larger
C. Cheaper
D. Expensive

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