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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
Firms earn abnormal profit when:
Question # 2
According to professor Ackley Gardener, amounts are included in national income
Question # 3
------------ is not included in gross domestic product
Question # 4
At shut down position:
Question # 5
Transfer payments are included in
Question # 6
One is not included in measuring National income
Question # 7
One of the following precautions is not included in measurement of national income by product method
Question # 8
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
Question # 9
A firm suffers abnormal losse, when:
Question # 10
A firm gains normat profit, where:
Question # 11
Main elements of circular flow of national income are
Question # 12
To measure national income is used
Question # 13
According to Pigou national income is that part of material wealth
Question # 14
A firm gains abnormal profit, when:
Question # 15
In the long run firms mostly earn normal profit in:
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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M Minahil Asif 04 - Jun - 2024 01 Min 45 Sec 10/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If we subtract direct taxes from personal income, we get |
A. Net national income
B. Net domestic income
C. Disposable personal income
D. Personal savings
|
| 2 | What is deducted from the GNP to get GDP |
A. Depreciation allowances
B. Net income received from abroad
C. Indirect tax
D. Transnfer payments
|
| 3 |
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
|
| 4 | Transfer payments are included in |
A. Gross domestic income
B. National income
C. Disposable personal income
D. Personal income
|
| 5 | "Quantity of goods and services which is consumed during a year is called national income". This definition of national income is stated by the economist |
A. Marshall
B. Pigou
C. Adam smith
D. Fisher
|
| 6 | If MC=MR=AR=AC=P, then a firms gains: |
A. Super profit
B. Normal profit
C. Normal loss
D. Abnormal loss
|
| 7 | 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
|
| 8 | Main elements of circular flow of national income are |
A. People or house holds
B. Firms
C. House holds and firms
D. Industrial lists
|
| 9 | 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
|
| 10 | A firm suffers abnormal losse, when: |
A. AC = AR
B. AVC = AR
C. AVC < AR
D. AVC > AR
|
Test Questions
