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	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
2	The four factor payments are.	A. Money, Capital, salaries, and income B. Wages, rent internest and profts C. Money, power, Prices, and wwalth D. Wags, intrest, salareis,andtaxes.
3	Whis is the largest figure	A. NNP B. GNP C. DPI D. PI
4	Macroeconomics is concerned with.	A. Aggregate economic activity B. Spending decisions of households C. Hod to produce goods D. How tobuy stocks and bonds
5	National Income is.	A. Total Income earned in producing the national product B. All taxes plus govt. spending C. Sum of personal income and saving D. NNP minus the capital consumption allowance
6	National Income = Ntional Expenditure is an	A. Equation B. Identity C. Function D. None
7	Investment spending included the purchase of.	A. Lottery coupon B. Prize Bond C. Residential construction D. all of the above
8	If govermment increases taxes pivate savings.	A. Increase B. Decrease C. Do not change D. Will become zero
9	The largest type of income in the Pakistan is	A. Compensation of employees B. Rental income C. Proprietors income D. Coporate profits
10	GNP includes	A. A Loan from a bank B. A loan from one's parents C. A brokers commission D. Gilfts and donations