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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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

If indirect taxes are deducted from NNP and subsidies are added. we achieve

Question # 2

Threre are methods of measurieng natinal income

Question # 3

GNP includes

Question # 4

We measure natonalincome by this method.

Question # 5

National income is a measure of

Question # 6

GNP is

Question # 7

It would increase the lvel of national income.

Question # 8

Which is a flow concept.

Question # 9

Gross nationa product includes

Question # 10

The four factor payments are.

Question # 11

It is transfer payment

Question # 12

A closed economy is best described as one in which

Question # 13

Investment spending included the purchase of.

Question # 14

It is avoided to make correct estimate of national income.

Question # 15

If C= 200 and I= 40 Than Y will equal

Question # 16

National Income = Ntional Expenditure is an

Question # 17

PI is equivalent to

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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 Personal income includes.
A. Direct taxes
B. Indirect taxes
C. Depreciation
D. None of the above
2 Corporae tax is levied on
A. Landdlords
B. Inporters
C. Big companies
D. Municipal corporations
3 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.
4 Whis is the largest figure
A. NNP
B. GNP
C. DPI
D. PI
5 Which of the following would NOT be included in GNP
A. Govt. Transfer payments
B. Got. Purchase of an air plane
C. Payment for construction of highway
D. Salary paid for the presidents secretary
6 Total value of allfinal goods andservices produced annually by a country.
A. NNP
B. GNP
C. GDP
D. NI
7 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
8 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
9 Which of the followign is not included in personali income
A. Social security benefits
B. Dividend payments
C. Undistributed corporate profits
D. Interest received from of saving certificates
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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