2nd Year Economics Chapter 1 Online MCQ Test for 12th Class Economics Chapter 1 (National Income)

ICS Part 2 Economics English Medium Chapter 1 Test

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MCQ's Test For Chapter 0 "ICS Part 2 Economics English Medium Chapter 1 Online Test"

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ICS Part 2 Economics English Medium Chapter 1 Online Test

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Question # 1

The largest type of income in the Pakistan is

Question # 2

Consumption spending does NOT include.

Question # 3

Corporae tax is levied on

Question # 4

In calculating national income which one will NOT be included.

Question # 5

Govt. transfer payment include

Question # 6

Which statment is true

Question # 7

It is duducted from GNP to find NNP

Question # 8

Transfer payments means.

Question # 9

Direct taxes are not included in

Question # 10

It is not included in estimation of national incoe

Question # 11

Transfer payments are not included in national income becaues.

Question # 12

It would increase the lvel of national income.

Question # 13

GNP is always.

Question # 14

The have a functional relation

Question # 15

Market value of all final goods and services produced in a country during a year is definition

Question # 16

Whis is the largest figure

Question # 17

When National income is estimated by expenditue method we include.

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ICS Part 2 Economics English Medium Chapter 1 Test

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ICS Part II Economics Chapter 0 Important MCQ's

Sr.# Question Answer
1 Corporae tax is levied on
A. Landdlords
B. Inporters
C. Big companies
D. Municipal corporations
2 Which measure has the larger value .
A. NNP
B. GNP
C. GDP
D. NI
3 If indirect taxes are deducted from NNP and subsidies are added. we achieve
A. Personla savings
B. DPI
C. National Income
D. Percapita inocme
4 It is transfer payment
A. Payment o college tuition
B. A social securiy payment
C. Payment for a leased car
D. Intrest paid for a bank loan
5 In erms of national income accounts, multiple counting efers to.
A. The addition to GNP of multiple units of a good
B. Counting cureently producedgoods more than once
C. The inclusion in GNP of gross spending and taxes
D. Counting both goods and services
6 National Income = Ntional Expenditure is an
A. Equation
B. Identity
C. Function
D. None
7 National income is a measure of
A. The zise of government revenue
B. Payments made to facor of production
C. Production f goods per day
D. Total working hours
8 It is avoided to make correct estimate of national income.
A. Free services
B. Double counting
C. Export earnings
D. All of the above
9 Macroeconomics is concerned with.
A. Aggregate economic activity
B. Spending decisions of households
C. Hod to produce goods
D. How tobuy stocks and bonds
10 Gross nationa product includes
A. A loan from one's parents
B. A loan from a domestic bank
C. A loan from other countries
D. None of theabove

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