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

Corporae tax is levied on

Question # 2

Govt. transfer payment include

Question # 3

Which statment is true

Question # 4

Transfer payments include.

Question # 5

Threre are methods of measurieng natinal income

Question # 6

The goods which arw used directly by the people are called.

Question # 7

Gross nationa product includes

Question # 8

A closed economy is best described as one in which

Question # 9

Personal income includes.

Question # 10

National Income = Ntional Expenditure is an

Question # 11

Whis is the largest figure

Question # 12

National income is a measure of

Question # 13

Macroeconomics is concerned with.

Question # 14

Which is a flow concept.

Question # 15

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

Question # 16

GNP is

Question # 17

It is considered as investment

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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 PI is equivalent to
A. DPI Minus personal taxes
B. DIP Plus unerned receipts
C. DPI Minus income earned but not received
D. NI plus unearned receipts minus personal taxes
2 If saving exceed investment then
A. National income rises
B. National income falls
C. National income is not affected
D. None of the above
3 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
4 The largest type of income in the Pakistan is
A. Compensation of employees
B. Rental income
C. Proprietors income
D. Coporate profits
5 In circular flow model
A. Govt. owns productive resources
B. Firms own productive resources
C. Households own productive resorces
D. Rent of land is not included
6 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
7 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
8 If indirect taxes are deducted from NNP and subsidies are added. we achieve
A. Personla savings
B. DPI
C. National Income
D. Percapita inocme
9 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
10 Investment spending included the purchase of.
A. Lottery coupon
B. Prize Bond
C. Residential construction
D. all of the above

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