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

Top Scorers Of Chapter 0 "ICS Part 2 Economics English Medium Chapter 1 Online Test" MCQ`s Test

Sr.#	Question	Answer
1	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
2	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
3	The largest type of income in the Pakistan is	A. Compensation of employees B. Rental income C. Proprietors income D. Coporate profits
4	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
5	Market value of all final goods and services produced in a country during a year is definition	A. GNP B. NNP C. NI D. Consumption
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	The have a functional relation	A. Consumption and national income B. Consumption and saving C. Consumption and investment D. All of the above
8	Which measure has the larger value .	A. NNP B. GNP C. GDP D. NI
9	In economics one of more persons living in a joint family are called a	A. Community B. Social gathering C. Super family D. Household
10	A TV set purchased from a retail store is an example of.	A. Final goods B. Surplus goods C. Capital goods D. Intermediate goods