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

Which is a flow concept.

Question # 2

It is considred as transfer payments

Question # 3

If we deduct direct tax from personal income we get.

Question # 4

Net Exports are

Question # 5

In economics one of more persons living in a joint family are called a

Question # 6

GNP is always.

Question # 7

The largest type fo in come in the Pakistan is

Question # 8

Which of the followign is not included in personali income

Question # 9

Investment spending included the purchase of.

Question # 10

Macroeconomics is concerned with.

Question # 11

Transfer payments are not included in national income becaues.

Question # 12

Net investment is

Question # 13

National income is a measure of

Question # 14

GNP includes

Question # 15

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

Question # 16

Real national income increases when

Question # 17

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

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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 National Income = Ntional Expenditure is an
A. Equation
B. Identity
C. Function
D. None
2 Consumption spending does NOT include.
A. Household's purchases of clothes
B. Household's purchase of a car
C. Household's paymnet of rent for an apartment
D. Household's purchase of shares of a business corporation
3 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
4 It is avoided to make correct estimate of national income.
A. Free services
B. Double counting
C. Export earnings
D. All of the above
5 The goods which arw used directly by the people are called.
A. Consumer goods
B. Capital good
C. Direct good
D. None
6 Investment spending included the purchase of.
A. Lottery coupon
B. Prize Bond
C. Residential construction
D. all of the above
7 Net investment is
A. Gross investment minus household investment
B. Gross investment minus govt. investment
C. Gross investment minus capital consumption allowance
D. None of the above
8 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
9 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
10 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

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