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This online test contains MCQs about following topics:
. Various concepts of national income . Measurement of national income . Product method . Income method . Expenditue method . CIrcular flow of national income . Factors of national income . Importance of study of national income
ICOM Part 1 Economics Ch 9 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 9 "Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test"
Try The MCQ's Test For Chapter 9 "Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test
00:00
Question # 1
Individual income means
Question # 2
Monopoly refers to:
Question # 3
Which is not counted in national income
Question # 4
If we subtract direct taxes from personal income, we get
Question # 5
Transfer payments are included in
Question # 6
If MC=MR=AR=AC=P, then a firms gains:
Question # 7
The term "Price Taker" is used in:
Question # 8
Transfer payments are included in the income
Question # 9
Duopoly refers to:
Question # 10
One of the following is not included in net national product
Question # 11
National income increases by
Question # 12
Net foreign income is
Question # 13
What remains after the deduction of direct tax from the personal income
Question # 14
------------------- are added in national income
Question # 15
A firm is in equilibrium, where:
11th Principle of Economics Chapter 9 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 9 National Income Test. Click the button for 100% free full practice test.
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Disposable personal income means |
A. Total of incomes
B. Income of an industry after fulfilling all the needs
C. After paying personal taxes, income of the people who provide factors of production
D. Save income of a person after the payment of the taxes
|
| 2 | According to Pigou national income is that part of material wealth |
A. Which can be stored easily
B. Which can be measured by the scale of money
C. Which have volume and surrounds
D. Which is exported
|
| 3 | The term "Price Taker" is used in: |
A. Perfect competition
B. Oliogopoly
C. Monopoly
D. Monopsony
|
| 4 | National income increases by |
A. The increase in the quantity of capital goods
B. The increase in the quantity of goods and services
C. The increase in price of goods
D. The increase in the income of entrepreneurs
|
| 5 | Which one of the following is not included in the methods of measuring national income |
A. Method of total according to market prices
B. Method of total of incomes
C. Method of total of domestic necessities and desires
D. Method of total expenditures
|
| 6 | Individual income means |
A. Total of incomes received from any means by the people
B. Total of incomes of entrepreneurs of the country
C. Income of a particular person
D. Income of a family
|
| 7 | Net foreign income is |
A. Exports - imports
B. Exports + imports
C. Income received by exports
D. Income received by imports
|
| 8 | If MC=MR=AR=AC=P, then a firms gains: |
A. Super profit
B. Normal profit
C. Normal loss
D. Abnormal loss
|
| 9 | One of the following is not included in net national product |
A. Consumer goods
B. Capital goods
C. Capital formation
D. Consumer goods and capital goods
|
| 10 | Transfer payment means that income |
A. Which can move from one place to order place i.g. money etc.
B. Which is received without labour, e.g. Zakat, gift , pension etc
C. Which is received after hardwork
D. Which is received by exports
|
| 11 |
According to whom economist, National income is the name of the total of production of goods and services
|
A. Adam smith
B. Marshall
C. Fisher
D. Pigou
|
| 12 | ------------ is not included in gross domestic product |
A. Private investment
B. Income received from foreign country
C. Depreciation allowance
D. Govt. investment
|
| 13 | Equilibrium level of national income means that point where |
A. Consumption = saving
B. Consumption = investment
C. Income = saving + investment
D. Saving = Investment
|
| 14 | Method of measuring national income |
A. National income=Gross national product - depreciation allowance
B. National income= Net national product - Indirect costs
C. National income= Net national product + subsidies
D. National income= Net national product - indirect taxes + subsidies
|
| 15 | A firm is in equilibrium, where: |
A. AR = MR
B. AC = MC
C. AC = MR
D. MC = MR
|
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