NAT II Management Science Economy MCQs With Answers

Question # 1

Inflation on prices:

Choose an answer

Decrease

Remains constant

Increase

Become zero

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Question # 2

International trade has the benefits:

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One

Three

Two

Unlimited

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Question # 3

The long run aggregate supply curve will shift to the right if:

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The price level increases.

Factors of production (such as labor and capital) increase

Expenditures (such as consumption and net exports) increase.

The prices of inputs used to produce goods and services (such as wages and the price of oil)descreases

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Question # 4

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

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2.5 percent

4.3percent

3.8percent

7.2percent

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Question # 5

The aggregate supply curve is the relationship between:

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The price level and the real domestic output purchased

The price level and the real domestic output produced

The price level which producers are willing to accept and the price level purchasers are willing to pay.

The real domestic output purchased and the real domestic output produced.

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Question # 6

Real GDP is equal to:

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Nominal GDP - Inflation

Nominal GDP + Inflation

Nominal GDP / Inflation

Inflation / Nominal GDP

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