| 1 |
Individuals of a country produce a certain quantity of goods and services using the resources of the country with the help of their capital, it is called national income this definition is presented by |
- A. Professor Marshall
- B. Professor Paul A Samuelson
- C. Professor Fisher
- D. Professor Pigou
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| 2 |
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
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| 3 |
If MC=MR=AR=AC=P, then a firms gains: |
- A. Super profit
- B. Normal profit
- C. Normal loss
- D. Abnormal loss
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| 4 |
------------ is not included in gross domestic product |
- A. Private investment
- B. Income received from foreign country
- C. Depreciation allowance
- D. Govt. investment
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| 5 |
How many conditions of firm's equilibrium are there ? |
- A. One
- B. Two
- C. Three
- D. Four
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| 6 |
What remains after the deduction of direct tax from the personal income |
- A. NNP
- B. NNI
- C. DPI
- D. GNP
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| 7 |
Which is subtracted from gross national product to find gross domestic product |
- A. Depreciation allowance
- B. Net income received from foreign sources
- C. Indirect taxes
- D. Transfer payments
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| 8 |
Transfer payments are included in the income |
- A. National income
- B. Gross domestic product
- C. Personal income
- D. Disposable personal income
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| 9 |
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
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| 10 |
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
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