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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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"

  • Total Questions15

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Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test

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Question # 1

Which thing should be added in net national product to get gross national product

Question # 2

Price discrimination policy refers to:

Question # 3

National income means the income

Question # 4

Difference between total revenue and total cost presents:

Question # 5

One of the following precautions is not included in measurement of national income by product method

Question # 6

Which one of the following is not called Gross national product

Question # 7

Disposable personal income means

Question # 8

Equilibrium of national income is, when

Question # 9

Basic object of a firm is to get maximum:

Question # 10

After deducting direct tax from personal income, it is called

Question # 11

Equilibrium level of national income means that point where

Question # 12

Oligopoly means:

Question # 13

Which is subtracted from gross national product to find gross domestic product

Question # 14

Which is not counted in national income

Question # 15

Concept of equilibrium level of national income in comprehensive way was presented by

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11th Principle of Economics Chapter 9 Test

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ICom Part 1 Principles of Economics ( English Medium) Chapter 9 Important MCQ's

Sr.# Question Answer
1 What is deducted from the GNP to get GDP
A. Depreciation allowances
B. Net income received from abroad
C. Indirect tax
D. Transnfer payments
2 Price discrimination policy refers to:
A. Single price
B. Two prices
C. Multiple prices
D. None of these
3 Net foreign income is
A. Exports - imports
B. Exports + imports
C. Income received by exports
D. Income received by imports
4 national income is found by
A. Subtracting depreciation allowance from gross national product
B. Subtracting indirect taxes from net national product
C. Adding subsidies in net national product
D. Subtracting indirect taxes and adding subsidies in net national product
5 ------------------- are added in national income
A. Depreciation allowance
B. Subsidies
C. Indirect taxes
D. Direct taxes
6 "National income is that part of material wealth of a nation which can be measured by the scale of money" This definition of national income is stated by the economist
A. Marshall
B. Pigou
C. Adam smith
D. Clark
7 Which thing of the following should be subtracted from gross national product to get net national product
A. Direct taxes
B. Indirect taxes
C. Depreciation allowance
D. Income received from foreign country
8 Expenses of wears and tears of machinery are called
A. Productive expenses
B. Non productive expenses
C. Wages
D. Depreciation expenses
9 A firm gains normat profit, where:
A. P=AC
B. P>AC
C. P<AC
D. AC>AR
10 National income means the income
A. Which central government earns during a year
B. Which provincial government earn during a year
C. Total wealth of a country
D. Rewards which the factors of production get during a year

Test Questions

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