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	The goods which arw used directly by the people are called.	A. Consumer goods B. Capital good C. Direct good D. None
2	To determine the correct level of GNP ,it is necessary to.	A. Add up the values of goods and services during one year B. Add up allsavings C. Count all imports D. Add up the value of semi finished goods
3	It is duducted from GNP to find NNP	A. Saving B. Direct taxes C. Depreciatin allowance D. Subsidies
4	Circular flow of income links	A. Income expenditure B. Govt taxes govt expenditure C. Exports ,imports D. Saving and investment
5	Investment spending included the purchase of.	A. Lottery coupon B. Prize Bond C. Residential construction D. all of the above
6	GNP is always.	A. Less than NNP B. Grether than NNP C. Equal to NNP D. Is found from NNP
7	Which statment is true	A. National Income = Naional expenditure - indirettaxes B. N1 =GNP -NNP C. N1 =P1 D. NI =NNP-Indirect taxes
8	The largest type of income in the Pakistan is	A. Compensation of employees B. Rental income C. Proprietors income D. Coporate profits
9	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
10	Direct taxes are not included in	A. DPI B. PI C. NNP D. a and c above