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

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

Question # 2

The elasticity of demand of durable goods is

Question # 3

In 2005-06 the share of chemicals was 9.08 percent and the share of electricals was:

Question # 4

The supply of land is:

Question # 5

An increase in supply is shown by:

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 A good for which income and quantity demanded are inversely related is known as:
A. Inferior good
B. Complementary good
C. Normal good
D. None of the given options
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?
A. Consumption curve
B. Supply curve
C. Laffer curve
D. Investment curve
3 The per capita income was $742 in 2004-05 but in 2005-06, rose to:
A. $ 795
B. $ 847
C. $ 880
D. $900
4 Real GDP is equal to:
A. Nominal GDP - Inflation
B. Nominal GDP + Inflation
C. Nominal GDP / Inflation
D. Inflation / Nominal GDP
5
Under the kinked demand curve model, an increase in marginal cost will lead to:
A.
An increase in output level and a decrease in price.
B.
A decrease in output level and an increase in price.
C.
A decrease in output level and no change in price.
D.
Neither a change in output level our a change in price.
6 Which ASEAN nation had the highest growth rate of 7.5 percent in 2005-06?
A. Indonesia
B. Malaysia
C. Vietnam
D. Thailand
7 Inflation will be useful for:
A. Labourers
B. Industrialist
C. Consumers
D. Pensioners
8 According to law of increasing return, marginal product:
A. Increases
B. Decreases
C. Remains constant
D. None of these
9 Ushr implies on:
A. Agricultural product
B. Industrial product
C. Agricultural & industrial product
D. None of these
10 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

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