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Online Tests
Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test MCQs With Answers
Question # 1
If indirect taxes are deducted from NNP and subsidies are added. we achieve
Choose an answer
Personla savings
DPI
National Income
Percapita inocme
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Question # 2
Consumption spending does NOT include.
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Household's purchases of clothes
Household's purchase of a car
Household's paymnet of rent for an apartment
Household's purchase of shares of a business corporation
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Question # 3
It is avoided to make correct estimate of national income.
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Free services
Double counting
Export earnings
All of the above
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Question # 4
If saving exceed investment then
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National income rises
National income falls
National income is not affected
None of the above
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Question # 5
If C= 200 and I= 40 Than Y will equal
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160
240
200
8000
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Question # 6
Net investment is
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Gross investment minus household investment
Gross investment minus govt. investment
Gross investment minus capital consumption allowance
None of the above
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Question # 7
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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Question # 8
It is transfer payment
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Payment o college tuition
A social securiy payment
Payment for a leased car
Intrest paid for a bank loan
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Question # 9
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 # 10
In economics one of more persons living in a joint family are called a
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Community
Social gathering
Super family
Household
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Question # 11
A closed economy is best described as one in which
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thre are no monopolies
No corporations
No extemalities
No international trade
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