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	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
2	GNP is always.	A. Less than NNP B. Grether than NNP C. Equal to NNP D. Is found from NNP
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	Which of the followign is not included in personali income	A. Social security benefits B. Dividend payments C. Undistributed corporate profits D. Interest received from of saving certificates
5	If C= 200 and I= 40 Than Y will equal	A. 160 B. 240 C. 200 D. 8000
6	In calculating national income which one will NOT be included.	A. Exports B. Old age pensions C. Wages of lecturer D. Undistributed profit by firms
7	It is considred as transfer payments	A. Salaries of govet emplyees B. Bonus of bank employees C. Inemployment allowance paid by govt D. Free medical are to offers.
8	A TV set purchased from a retail store is an example of.	A. Final goods B. Surplus goods C. Capital goods D. Intermediate goods
9	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.
10	Undisributed proits are considered.	A. Income enrned but not received B. Income eearned and received C. Income received but not earned D. None of the above