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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ICS Part 2 Economics English Medium Chapter Wise MCQ's Test

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

It is considered as investment

Question # 2

When National income is estimated by expenditue method we include.

Question # 3

Transfer payments means.

Question # 4

The largest part of national income goes to

Question # 5

It is transfer payment

Question # 6

In circular flow model

Question # 7

Net investment is

Question # 8

In erms of national income accounts, multiple counting efers to.

Question # 9

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

Question # 10

Whis is the largest figure

Question # 11

Macroeconomics is concerned with.

Question # 12

It would increase the lvel of national income.

Question # 13

A closed economy is best described as one in which

Question # 14

If govermment increases taxes pivate savings.

Question # 15

Undisributed proits are considered.

Question # 16

Which is a flow concept.

Question # 17

Transfer payments means

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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 The largest type of income in the Pakistan is
A. Compensation of employees
B. Rental income
C. Proprietors income
D. Coporate profits
2 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
3 It is considered as investment
A. Construction of a house
B. Purchase of an old house
C. Salaries of college professors
D. a and b above
4 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
5 Corporae tax is levied on
A. Landdlords
B. Inporters
C. Big companies
D. Municipal corporations
6 It is avoided to make correct estimate of national income.
A. Free services
B. Double counting
C. Export earnings
D. All of the above
7 Transfer payments are not included in national income becaues.
A. Such payments are made to persons livnig abroad
B. Double counting would result
C. They are illegal
D. There is no method to account for these
8 The four factor payments are.
A. Money, Capital, salaries, and income
B. Wages, rent internest and profts
C. Money, power, Prices, and wwalth
D. Wags, intrest, salareis,andtaxes.
9 When National income is estimated by expenditue method we include.
A. All govt expenditure
B. All houseolds expenditure
C. All of the above
D. All expenditure of the business sector
10 It is counted in GDP
A. Sale price of an old car
B. A TV set produced this year but not sold
C. Purchase of 100 shares of PSO
D. The leisure people consume

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