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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.

First Year Principles of Economics Chapter 9 Online MCQ Test for 1st Year Principles of Economics Chapter 9 (National Income)

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
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First Year Principles of Economics Chapter 9 Online MCQ Test for 1st Year Principles of Economics Chapter 9 (National Income)

Sr. # Questions Answers Choice
1 Main elements of circular flow of national income are
  • A. People or house holds
  • B. Firms
  • C. House holds and firms
  • D. Industrial lists
2 Monopoly refers to:
  • A. Single buyer
  • B. Single seller
  • C. Single producer
  • D. Both b and c
3 At shut down position:
  • A. AC = AR
  • B. AVC = AR
  • C. AVC < AR
  • D. AVC > AR
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 is not counted in national income
  • A. Interests
  • B. transfer payments
  • C. Profits
  • D. Rents
6 Price discrimination policy refers to:
  • A. Single price
  • B. Two prices
  • C. Multiple prices
  • D. None of these
7 Net foreign income is
  • A. Exports - imports
  • B. Exports + imports
  • C. Income received by exports
  • D. Income received by imports
8 National income is total of
  • A. Incomes of all entrepreneurs of the country
  • B. Incomes of all industrialists of the country
  • C. Incomes of all salaried persons of the country
  • D. Incomes of all the people of the country
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 One of the following precautions is not included in measurement of national income by product method
  • A. To subtract depreciation allowance
  • B. To subtract indirect taxes
  • C. Not to include transfer payments
  • D. To include subsidies

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