Question # 1

If we deduct direct tax from personal income we get.

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Net National income

Disposable income

Personal saving

Per capital income

Macroeconomics is concerned with.

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Aggregate economic activity

Spending decisions of households

Hod to produce goods

How tobuy stocks and bonds

Which is a flow concept.

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Number of my shirts

My montly income

My total wealth

Money Supply

GNP includes

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A Loan from a bank

A loan from one's parents

A brokers commission

Gilfts and donations

It is counted in GDP

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Sale price of an old car

A TV set produced this year but not sold

Purchase of 100 shares of PSO

The leisure people consume

In calculating national income which one will NOT be included.

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Exports

Old age pensions

Wages of lecturer

Undistributed profit by firms

It is not included in estimation of national incoe

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Illegal income

Services of house wife

Imports

All are not included

A TV set purchased from a retail store is an example of.

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Final goods

Surplus goods

Capital goods

Intermediate goods

Net Exports are

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Total Exports plus total imports

Total exports minus total imports

Total exports divided by total imports

Total imports minus total exports

GNP is

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Total Sales in the economy

Total monetary transactions in an economy

Sum of market values of all goods and services prodcued in an economy

Totla spending in an economy

In circular flow model

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Govt. owns productive resources

Firms own productive resources

Households own productive resorces

Rent of land is not included

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Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test MCQs With Answers

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