Question # 1

Direct taxes are not included in

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DPI

PI

NNP

a and c above

Corporae tax is levied on

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Landdlords

Inporters

Big companies

Municipal corporations

National Income = Ntional Expenditure is an

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Equation

Identity

Function

None

Total value fo all final goods and services produced annually by a country.

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NNP

GNP

GDP

NI

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

The largest part of national income goes to

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Consumption

Investment

Saving

Transfer payment

The largest type of income in the Pakistan is

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Compensation of employees

Rental income

Proprietors income

Coporate profits

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

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

Which statment is true

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National Income = Naional expenditure - indirettaxes

N1 =GNP -NNP

N1 =P1

NI =NNP-Indirect taxes

Govt. transfer payment include

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Social security benefits

Welfare benefits

Student scholarships

All of the above

Investment spending included the purchase of.

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Lottery coupon

Prize Bond

Residential construction

all of the above

Which of the following would NOT be included in GNP

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Govt. Transfer payments

Got. Purchase of an air plane

Payment for construction of highway

Salary paid for the presidents secretary

Personal income includes.

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Direct taxes

Indirect taxes

Depreciation

None of the above

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.

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

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Final goods

Surplus goods

Capital goods

Intermediate goods

If we deduct direct tax from personal income we get.

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Net National income

Disposable income

Personal saving

Per capital income

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

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