12th class Economics chapter 1 online mcq test with answers for ICS part 2 Economics chapter 1 (National Income)

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Sr.#	Question	Answer
1	If govermment increases taxes pivate savings.	A. Increase B. Decrease C. Do not change D. Will become zero
2	National Income is.	A. Total Income earned in producing the national product B. All taxes plus govt. spending C. Sum of personal income and saving D. NNP minus the capital consumption allowance
3	Threre are methods of measurieng natinal income	A. 5 B. 4 C. 2 D. 3
4	Corporae tax is levied on	A. Landdlords B. Inporters C. Big companies D. Municipal corporations
5	If we deduct direct tax from personal income we get.	A. Net National income B. Disposable income C. Personal saving D. Per capital income
6	Country is poor if it has.	A. Less production of gods per capita B. Less amount of gold C. Less amout of foreign currency D. Less exports
7	A closed economy is best described as one in which	A. thre are no monopolies B. No corporations C. No extemalities D. No international trade
8	Personal income includes.	A. Direct taxes B. Indirect taxes C. Depreciation D. None of the above
9	Which of the following would NOT be included in GNP	A. Govt. Transfer payments B. Got. Purchase of an air plane C. Payment for construction of highway D. Salary paid for the presidents secretary
10	The have a functional relation	A. Consumption and national income B. Consumption and saving C. Consumption and investment D. All of the above