Question # 1

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.

Whis is the largest figure

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NNP

GNP

DPI

PI

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

Real national income increases when

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Prics of goods are rising

National savings increases

Quantity of goods and services increases

None of the above

It is considred as transfer payments

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Salaries of govet emplyees

Bonus of bank employees

Inemployment allowance paid by govt

Free medical are to offers.

Transfer payments include.

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Daily wages, pensions

Pensions Zakat

Taxes, pocket money

Zakat , taxes

Corporae tax is levied on

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Landdlords

Inporters

Big companies

Municipal corporations

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

GNP is always.

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Less than NNP

Grether than NNP

Equal to NNP

Is found from NNP

The have a functional relation

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Consumption and national income

Consumption and saving

Consumption and investment

All of the above

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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