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	It is not included in estimation of national incoe	A. Illegal income B. Services of house wife C. Imports D. All are not included
2	Which statment is true	A. NNP =GNP- Deprection B. NNP =N1 C. NNP = DPI D. NNP = GNP + Depreciation
3	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
4	Which statment is true	A. National Income = Naional expenditure - indirettaxes B. N1 =GNP -NNP C. N1 =P1 D. NI =NNP-Indirect taxes
5	A TV set purchased from a retail store is an example of.	A. Final goods B. Surplus goods C. Capital goods D. Intermediate goods
6	If saving exceed investment then	A. National income rises B. National income falls C. National income is not affected D. None of the above
7	Govt. transfer payment include	A. Social security benefits B. Welfare benefits C. Student scholarships D. All of the above
8	We measure natonalincome by this method.	A. Expenditure method B. Income method C. Product method D. As of the above
9	National Income = Ntional Expenditure is an	A. Equation B. Identity C. Function D. None
10	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