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	Undisributed proits are considered.	A. Income enrned but not received B. Income eearned and received C. Income received but not earned D. None of the above
2	National Income = Ntional Expenditure is an	A. Equation B. Identity C. Function D. None
3	When National income is estimated by expenditue method we include.	A. All govt expenditure B. All houseolds expenditure C. All of the above D. All expenditure of the business sector
4	A closed economy is best described as one in which	A. thre are no monopolies B. No corporations C. No extemalities D. No international trade
5	Whis is the largest figure	A. NNP B. GNP C. DPI D. PI
6	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
7	GNP is always.	A. Less than NNP B. Grether than NNP C. Equal to NNP D. Is found from NNP
8	If govermment increases taxes pivate savings.	A. Increase B. Decrease C. Do not change D. Will become zero
9	The goods which arw used directly by the people are called.	A. Consumer goods B. Capital good C. Direct good D. None
10	Which measure has the larger value .	A. NNP B. GNP C. GDP D. NI