Re: 1973 merc 200
No, you should crank it with the throttle open slightly. It should have a throttle stop to prevent wide open throttle starts when in neutral. You may have wear at the throttle shaft in the carburetor if it has one, allowing it to suck too much air and not enough fuel, or a vacuum leak around the intake, carb, etc. There's so many things that can cause a problem like this, it's hard to help you without looking at it. Leaking crankshaft seals would also cause it. But NOT likely timing as far as I know.
Wish I could help more,
JBJ