More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test MCQs With Answers
Question # 1
At shut down position:
Choose an answer
AC = AR
AVC = AR
AVC < AR
AVC > AR
Previous
Skip
Next
Question # 2
National income increases by
Choose an answer
The increase in the quantity of capital goods
The increase in the quantity of goods and services
The increase in price of goods
The increase in the income of entrepreneurs
Previous
Skip
Next
Question # 3
In the long run firms mostly earn normal profit in:
Choose an answer
Perfect competition
Oliogopoly
Monopoly
Duopoly
Previous
Skip
Next
Question # 4
One of the following is not included in net national product
Choose an answer
Consumer goods
Capital goods
Capital formation
Consumer goods and capital goods
Previous
Skip
Next
Question # 5
Which one of the following is not called Gross national product
Choose an answer
Economic national product
Joint national product
Composite national product
All the three
Previous
Skip
Next
Question # 6
To measure national income is used
Choose an answer
Product method
Incomes of the factor method
Expenditure method
All the three
Previous
Skip
Next
Question # 7
Which one of the following is not included in the methods of measuring national income
Choose an answer
Method of total according to market prices
Method of total of incomes
Method of total of domestic necessities and desires
Method of total expenditures
Previous
Skip
Next
Question # 8
Which is subtracted from gross national product to find gross domestic product
Choose an answer
Depreciation allowance
Net income received from foreign sources
Indirect taxes
Transfer payments
Previous
Skip
Next
Question # 9
Which is not counted in national income
Choose an answer
Interests
transfer payments
Profits
Rents
Previous
Skip
Next
Question # 10
Which thing should be added in net national product to get gross national product
Choose an answer
Direct taxes
Indirect taxes
Depreciation allowance
Subsidies
Previous
Skip
Next
Question # 11
What remains after the deduction of direct tax from the personal income
Choose an answer
NNP
NNI
DPI
GNP
Previous
Skip
Next
Question # 12
Firms earn abnormal profit when:
Choose an answer
AR = AC
AR < AC
AR > AC
AC = AR
Previous
Skip
Next
Question # 13
Under monopoly, the slope of MR curve is:
Choose an answer
Twice the slope of AR curve
Less than the slope of AR curve
Greater than the slope of AR curve
Half the slope of AR curve
Previous
Skip
Next
Question # 14
Price discrimination policy refers to:
Choose an answer
Single price
Two prices
Multiple prices
None of these
Previous
Skip
Next
Question # 15
In the long run monopolist earns profit:
Choose an answer
Normal
Abnormal
Super normal
Both b and c
Previous
Skip
Next
Question # 16
The term "Price Taker" is used in:
Choose an answer
Perfect competition
Oliogopoly
Monopoly
Monopsony
Previous
Skip
Next
Question # 17
------------ is not included in gross domestic product
Choose an answer
Private investment
Income received from foreign country
Depreciation allowance
Govt. investment
Previous
Skip
Next
Question # 18
------------------- are added in national income
Choose an answer
Depreciation allowance
Subsidies
Indirect taxes
Direct taxes
Previous
Skip
Next
Question # 19
Because of increase in national income
Choose an answer
Standard of living rises
Standard of living falls
No change occurs
None of three
Previous
Skip
Next
Question # 20
Net national product is found by
Choose an answer
Subtracting tax from gross national product
Subtracting transfer payments form gross national product
Subtracting depreciation allowance from gross national product
Subtracting subsidies from gross national product
Previous
Skip
Next
Question # 21
According to professor Ackley Gardener, amounts are included in national income
Choose an answer
Wages
Rents and interests
Profits
All the three
Previous
Skip
Next
Question # 22
Which thing of the following should be subtracted from gross national product to get net national product
Choose an answer
Direct taxes
Indirect taxes
Depreciation allowance
Income received from foreign country
Previous
Skip
Next
Question # 23
A firm gains abnormal profit, when:
Choose an answer
TR = TC
TR > TC
TR < TC
MC = MR
Previous
Skip
Next
Back