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	Net Exports are	A. Total Exports plus total imports B. Total exports minus total imports C. Total exports divided by total imports D. Total imports minus total exports
2	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.
3	Which statment is true	A. NNP =GNP- Deprection B. NNP =N1 C. NNP = DPI D. NNP = GNP + Depreciation
4	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
5	Transfer payments include.	A. Daily wages, pensions B. Pensions Zakat C. Taxes, pocket money D. Zakat , taxes
6	National Income = Ntional Expenditure is an	A. Equation B. Identity C. Function D. None
7	If saving exceed investment then	A. National income rises B. National income falls C. National income is not affected D. None of the above
8	The goods which arw used directly by the people are called.	A. Consumer goods B. Capital good C. Direct good D. None
9	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
10	Transfer payments means.	A. Bank loans B. The payment without work C. Payments made to all factors of production D. Tax payments