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	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
2	The largest type of income in the Pakistan is	A. Compensation of employees B. Rental income C. Proprietors income D. Coporate profits
3	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
4	Direct taxes are not included in	A. DPI B. PI C. NNP D. a and c above
5	It is considered as investment	A. Construction of a house B. Purchase of an old house C. Salaries of college professors D. a and b above
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	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
8	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
9	PI is equivalent to	A. DPI Minus personal taxes B. DIP Plus unerned receipts C. DPI Minus income earned but not received D. NI plus unearned receipts minus personal taxes
10	If saving exceed investment then	A. National income rises B. National income falls C. National income is not affected D. None of the above