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

Undisributed proits are considered.

Question # 2

Corporae tax is levied on

Question # 3

A TV set purchased from a retail store is an example of.

Question # 4

It is avoided to make correct estimate of national income.

Question # 5

Direct taxes are not included in

Question # 6

Macroeconomics is concerned with.

Question # 7

Transfer payments means.

Question # 8

National Income = Ntional Expenditure is an

Question # 9

Total value of allfinal goods andservices produced annually by a country.

Question # 10

Which of the following would NOT be included in GNP

Question # 11

In calculating national income which one will NOT be included.

Question # 12

It is counted in GDP

Question # 13

GNP is always.

Question # 14

It is duducted from GNP to find NNP

Question # 15

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

Question # 16

The largest type of income in the Pakistan is

Question # 17

National Income is.

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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 GNP includes
A. A Loan from a bank
B. A loan from one's parents
C. A brokers commission
D. Gilfts and donations
2 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
3 It is transfer payment
A. Payment o college tuition
B. A social securiy payment
C. Payment for a leased car
D. Intrest paid for a bank loan
4 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
5 It is considred as transfer payments
A. Salaries of govet emplyees
B. Bonus of bank employees
C. Inemployment allowance paid by govt
D. Free medical are to offers.
6 It would increase the lvel of national income.
A. An increase in taxation
B. A reduction in governmnet spending
C. An increase in exports
D. Students scholarships
7 The goods which arw used directly by the people are called.
A. Consumer goods
B. Capital good
C. Direct good
D. None
8 Total value fo all final goods and services produced annually by a country.
A. NNP
B. GNP
C. GDP
D. NI
9 Which of the following would NOT be included in GNP
A. Govt. Transfer payments
B. Got. Purchase of an air plane
C. Payment for construction of highway
D. Salary paid for the presidents secretary
10 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

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