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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
The term "Price Maker" is used in:
Question # 2
A firm gains normat profit, where:
Question # 3
Firms earn abnormal profit when:
Question # 4
Which one of the following is not included in the methods of measuring national income
Question # 5
National income increases by
Question # 6
Monopoly refers to:
Question # 7
If MC=MR=AR=AC=P, then a firms gains:
Question # 8
In the long run firms mostly earn normal profit in:
Question # 9
Which is not counted in national income
Question # 10
Individual income means
Question # 11
A firm gains abnormal profit, when:
Question # 12
Net national product is found by
Question # 13
In the long run monopolist earns profit:
Question # 14
Gross national product means
Question # 15
Difference between total revenue and total cost presents:
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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| Sr.# | Question | Answer |
|---|---|---|
| 1 | "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
|
| 2 | According to professor Ackley Gardener, amounts are included in national income |
A. Wages
B. Rents and interests
C. Profits
D. All the three
|
| 3 | At shut down position: |
A. AC = AR
B. AVC = AR
C. AVC < AR
D. AVC > AR
|
| 4 | "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
|
| 5 | 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
|
| 6 | ------------ is not included in gross domestic product |
A. Private investment
B. Income received from foreign country
C. Depreciation allowance
D. Govt. investment
|
| 7 | Transfer payments are included in |
A. Gross domestic income
B. National income
C. Disposable personal income
D. Personal income
|
| 8 | Concept of equilibrium level of national income in comprehensive way was presented by |
A. Professor keynes
B. Professor Marshall
C. Professor hicks
D. Professor Lipsay
|
| 9 | To measure national income is used |
A. Product method
B. Incomes of the factor method
C. Expenditure method
D. All the three
|
| 10 | A firm gains normat profit, where: |
A. P=AC
B. P>AC
C. P<AC
D. AC>AR
|
Test Questions
