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	Transfer payments means.	A. Bank loans B. The payment without work C. Payments made to all factors of production D. Tax payments
2	Transfer payments means	A. Bank loans B. The payment without work C. Tax payments D. Payments made to all factors of production
3	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
4	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
5	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
6	The largest type fo in come in the Pakistan is	A. Compensation of employees B. Propretors income C. Rental income D. Corporate profits
7	Which measure has the larger value .	A. NNP B. GNP C. GDP D. NI
8	National income is a measure of	A. The zise of government revenue B. Payments made to facor of production C. Production f goods per day D. Total working hours
9	Personal income includes.	A. Direct taxes B. Indirect taxes C. Depreciation D. None of the above
10	The largest part of national income goes to	A. Consumption B. Investment C. Saving D. Transfer payment