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

National Income is.

Question # 2

Real national income increases when

Question # 3

Whis is the largest figure

Question # 4

We measure natonalincome by this method.

Question # 5

Which is a flow concept.

Question # 6

It is considred as transfer payments

Question # 7

Total value fo all final goods and services produced annually by a country.

Question # 8

Gross nationa product includes

Question # 9

Circular flow of income links

Question # 10

If saving exceed investment then

Question # 11

If we deduct direct tax from personal income we get.

Question # 12

Which of the following would NOT be included in GNP

Question # 13

When National income is estimated by expenditue method we include.

Question # 14

The largest part of national income goes to

Question # 15

Macroeconomics is concerned with.

Question # 16

Investment spending included the purchase of.

Question # 17

Total value of allfinal goods andservices produced annually by a country.

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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 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.
2 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
3 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
4 Govt. transfer payment include
A. Social security benefits
B. Welfare benefits
C. Student scholarships
D. All of the above
5 The largest part of national income goes to
A. Consumption
B. Investment
C. Saving
D. Transfer payment
6 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
7 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
8 If govermment increases taxes pivate savings.
A. Increase
B. Decrease
C. Do not change
D. Will become zero
9 Personal income includes.
A. Direct taxes
B. Indirect taxes
C. Depreciation
D. None of the above
10 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

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