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

The four factor payments are.

Question # 2

When National income is estimated by expenditue method we include.

Question # 3

Investment spending included the purchase of.

Question # 4

Per capita Incom is.

Question # 5

Circular flow of income links

Question # 6

The have a functional relation

Question # 7

GNP is

Question # 8

Which of the followign is not included in personali income

Question # 9

Net Exports are

Question # 10

Threre are methods of measurieng natinal income

Question # 11

Net investment is

Question # 12

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

Question # 13

Gross nationa product includes

Question # 14

In economics one of more persons living in a joint family are called a

Question # 15

Corporae tax is levied on

Question # 16

Govt. transfer payment include

Question # 17

Total value fo all final goods and services produced annually by a country.

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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 Macroeconomics is concerned with.
A. Aggregate economic activity
B. Spending decisions of households
C. Hod to produce goods
D. How tobuy stocks and bonds
2 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
3 It is avoided to make correct estimate of national income.
A. Free services
B. Double counting
C. Export earnings
D. All of the above
4 A TV set purchased from a retail store is an example of.
A. Final goods
B. Surplus goods
C. Capital goods
D. Intermediate goods
5 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
6 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
7 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
8 If saving exceed investment then
A. National income rises
B. National income falls
C. National income is not affected
D. None of the above
9 Transfer payments are not included in national income becaues.
A. Such payments are made to persons livnig abroad
B. Double counting would result
C. They are illegal
D. There is no method to account for these
10 Transfer payments means
A. Bank loans
B. The payment without work
C. Tax payments
D. Payments made to all factors of production

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