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	The goods which arw used directly by the people are called.	A. Consumer goods B. Capital good C. Direct good D. None
2	We measure natonalincome by this method.	A. Expenditure method B. Income method C. Product method D. As of the above
3	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
4	It is counted in GDP	A. Sale price of an old car B. A TV set produced this year but not sold C. Purchase of 100 shares of PSO D. The leisure people consume
5	The largest part of national income goes to	A. Consumption B. Investment C. Saving D. Transfer payment
6	Which is a flow concept.	A. Number of my shirts B. My montly income C. My total wealth D. Money Supply
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	Total value of allfinal goods andservices produced annually by a country.	A. NNP B. GNP C. GDP D. NI
9	Real national income increases when	A. Prics of goods are rising B. National savings increases C. Quantity of goods and services increases D. None of the above
10	Which statment is true	A. NNP =GNP- Deprection B. NNP =N1 C. NNP = DPI D. NNP = GNP + Depreciation