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	If indirect taxes are deducted from NNP and subsidies are added. we achieve	A. Personla savings B. DPI C. National Income D. Percapita inocme
2	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
3	Transfer payments means.	A. Bank loans B. The payment without work C. Payments made to all factors of production D. Tax payments
4	Total value fo all final goods and services produced annually by a country.	A. NNP B. GNP C. GDP D. NI
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	National Income = Ntional Expenditure is an	A. Equation B. Identity C. Function D. None
7	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
8	If we deduct direct tax from personal income we get.	A. Net National income B. Disposable income C. Personal saving D. Per capital income
9	GNP includes	A. A Loan from a bank B. A loan from one's parents C. A brokers commission D. Gilfts and donations
10	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