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12th Class Principles of Economics Chapter 1 Test

12th class I.Com Part 2 Principles of Economics chapter 1 Online MCQs test with answers for Principles of Economics


I.Com Part 2 Principles of Economics
Chapter 1 Test

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I.Com Part 2 Principles of Economics Chapter Wise Test
(English Medium)

12th class I.Com Part 2 Principles of Economics chapter 1 Online MCQs test with answers for Principles of Economics

Sr. # Questions Answers Choice
1 Direct taxes are not included in
  • A. NNP
  • B. PI
  • C. DP
  • D. a and c of above
2 Which measure has the larger value
  • A. NNP
  • B. GNP
  • C. GDP
  • D. NI
3 Real national income increases when
  • A. Prices of goods are rising
  • B. National savings increase
  • C. Quantity of goods and services increases
  • D. None of the above
4 Transfer payments are not included in national income because
  • A. Such payments are made to persons living abroad
  • B. Double counting would result
  • C. They are illegal
  • D. There is no method to account for these
5 A TV set purchases from a retail store is an example of
  • A. intermediate good
  • B. capital goods
  • C. surplus goods
  • D. Final goods
6 National income = National expenditure is an
  • A. Equation
  • B. Identity
  • C. Function
  • D. None
7 Circular flow of income links
  • A. Income expenditure
  • B. exports, imports
  • C. govt taxes, govt expenditure
  • D. saving and investment
8 If government increases taxes, private savings
  • A. Increase
  • B. Decrease
  • C. Do not change
  • D. Will become zero
9 Corporate tax is levied on
  • A. Landlords
  • B. Municipal corporations
  • C. Big companies
  • D. Importers
10 Which is a flow concept
  • A. number of my shirts
  • B. my monthly income
  • C. my total wealth
  • D. money supply

Top Scorers of Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test

S

Sana Shahbaz

Lahore01 - May - 2022

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03 Mins 57 Sec

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