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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
Equilibrium of national income is, when
Question # 2
If we subtract direct taxes from personal income, we get
Question # 3
Oligopoly means:
Question # 4
national income is found by
Question # 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
Question # 6
Transfer payments are included in
Question # 7
Expenditures of repair of machines are called
Question # 8
A firm gains abnormal profit, when:
Question # 9
Disposable personal income is equal to
Question # 10
Because of increase in national income
Question # 11
Concept of equilibrium level of national income in comprehensive way was presented by
Question # 12
After subtracting depreciation allowance from gross national product is known
Question # 13
Main elements of circular flow of national income are
Question # 14
Transfer payment means that income
Question # 15
To measure national income is used
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.
Top Scorers Of Chapter 9 "Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test" MCQ`s Test
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M Muhammad Hammad Shekhani 01 - Jul - 2021 05 Min 59 Sec 13/15 -
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M Minahil Asif 04 - Jun - 2024 01 Min 45 Sec 10/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | A firm gains abnormal profit, when: |
A. TR = TC
B. TR > TC
C. TR < TC
D. MC = MR
|
| 3 | 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
|
| 4 | Under monopoly, the slope of MR curve is: |
A. Twice the slope of AR curve
B. Less than the slope of AR curve
C. Greater than the slope of AR curve
D. Half the slope of AR curve
|
| 5 | Which thing should be added in net national product to get gross national product |
A. Direct taxes
B. Indirect taxes
C. Depreciation allowance
D. Subsidies
|
| 6 | 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
|
| 7 | Monopoly refers to: |
A. Single buyer
B. Single seller
C. Single producer
D. Both b and c
|
| 8 | Gross national product means |
A. Total of price of all goods produced in a country in year
B. Total of price of all consumer goods produced in the economy during a year
C. Total of goods and services produced in the economy during a year
D. Total of monetary value of goods and services produced during a year in the economy
|
| 9 | ------------ is not included in gross domestic product |
A. Private investment
B. Income received from foreign country
C. Depreciation allowance
D. Govt. investment
|
| 10 | Which is not counted in national income |
A. Interests
B. transfer payments
C. Profits
D. Rents
|
| 11 | 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
|
| 12 | A firm gains normat profit, where: |
A. P=AC
B. P>AC
C. P<AC
D. AC>AR
|
| 13 | A firm is in equilibrium, where: |
A. AR = MR
B. AC = MC
C. AC = MR
D. MC = MR
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| 14 | Under Monopoly, a firm is in equilibrium position when Ed is: |
A. Equal to unity
B. Less than unity
C. Grater than unity
D. Both b and c
|
| 15 | To measure national income is used |
A. Product method
B. Incomes of the factor method
C. Expenditure method
D. All the three
|
Test Questions
