2nd Year Economics Chapter 1 Online MCQ Test for 12th Class Economics Chapter 1 (National Income)

ICS Part 2 Economics English Medium Chapter 1 Test

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ICS Part 2 Economics English Medium Chapter Wise MCQ's Test

MCQ's Test For Chapter 0 "ICS Part 2 Economics English Medium Chapter 1 Online Test"

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ICS Part 2 Economics English Medium Chapter 1 Online Test

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Question # 1

National income is a measure of

Question # 2

Per capita Incom is.

Question # 3

National Income is.

Question # 4

Which of the followign is not included in personali income

Question # 5

If we include it. national income will be over estimated

Question # 6

Direct taxes are not included in

Question # 7

Corporae tax is levied on

Question # 8

Market value of all final goods and services produced in a country during a year is definition

Question # 9

Which measure has the larger value .

Question # 10

A closed economy is best described as one in which

Question # 11

Personal income includes.

Question # 12

Transfer payments include.

Question # 13

In calculating national income which one will NOT be included.

Question # 14

When National income is estimated by expenditue method we include.

Question # 15

If we deduct direct tax from personal income we get.

Question # 16

To determine the correct level of GNP ,it is necessary to.

Question # 17

Gross nationa product includes

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ICS Part 2 Economics English Medium Chapter 1 Test

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ICS Part II Economics Chapter 0 Important MCQ's

Sr.# Question Answer
1 If C= 200 and I= 40 Than Y will equal
A. 160
B. 240
C. 200
D. 8000
2 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
3 It is duducted from GNP to find NNP
A. Saving
B. Direct taxes
C. Depreciatin allowance
D. Subsidies
4 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
5 Corporae tax is levied on
A. Landdlords
B. Inporters
C. Big companies
D. Municipal corporations
6 Transfer payments include.
A. Daily wages, pensions
B. Pensions Zakat
C. Taxes, pocket money
D. Zakat , taxes
7 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
8 In erms of national income accounts, multiple counting efers to.
A. The addition to GNP of multiple units of a good
B. Counting cureently producedgoods more than once
C. The inclusion in GNP of gross spending and taxes
D. Counting both goods and services
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 Consumption spending does NOT include.
A. Household's purchases of clothes
B. Household's purchase of a car
C. Household's paymnet of rent for an apartment
D. Household's purchase of shares of a business corporation

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