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Online Tests
Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test MCQs With Answers
Question # 1
If govermment increases taxes pivate savings.
Choose an answer
Increase
Decrease
Do not change
Will become zero
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Question # 2
National Income is.
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Total Income earned in producing the national product
All taxes plus govt. spending
Sum of personal income and saving
NNP minus the capital consumption allowance
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Question # 3
Direct taxes are not included in
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DPI
PI
NNP
a and c above
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Question # 4
Total value of allfinal goods andservices produced annually by a country.
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NNP
GNP
GDP
NI
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Question # 5
GNP includes
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A Loan from a bank
A loan from one's parents
A brokers commission
Gilfts and donations
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Question # 6
Which statment is true
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National Income = Naional expenditure - indirettaxes
N1 =GNP -NNP
N1 =P1
NI =NNP-Indirect taxes
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Question # 7
It is considered as investment
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Construction of a house
Purchase of an old house
Salaries of college professors
a and b above
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Question # 8
Which measure has the larger value .
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NNP
GNP
GDP
NI
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Question # 9
Corporae tax is levied on
Choose an answer
Landdlords
Inporters
Big companies
Municipal corporations
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Question # 10
The four factor payments are.
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Money, Capital, salaries, and income
Wages, rent internest and profts
Money, power, Prices, and wwalth
Wags, intrest, salareis,andtaxes.
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