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	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
2	GNP is	A. Total Sales in the economy B. Total monetary transactions in an economy C. Sum of market values of all goods and services prodcued in an economy D. Totla spending in an economy
3	Consumption spending does NOT include.	A. Household's purchases of clothes B. Household's purchase of a car C. Household's paymnet of rent for an apartment D. Household's purchase of shares of a business corporation
4	It is avoided to make correct estimate of national income.	A. Free services B. Double counting C. Export earnings D. All of the above
5	Gross nationa product includes	A. A loan from one's parents B. A loan from a domestic bank C. A loan from other countries D. None of theabove
6	It is duducted from GNP to find NNP	A. Saving B. Direct taxes C. Depreciatin allowance D. Subsidies
7	Personal income includes.	A. Direct taxes B. Indirect taxes C. Depreciation D. None of the above
8	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
9	National Income = Ntional Expenditure is an	A. Equation B. Identity C. Function D. None
10	Which is a flow concept.	A. Number of my shirts B. My montly income C. My total wealth D. Money Supply