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	Threre are methods of measurieng natinal income	A. 5 B. 4 C. 2 D. 3
2	To determine the correct level of GNP ,it is necessary to.	A. Add up the values of goods and services during one year B. Add up allsavings C. Count all imports D. Add up the value of semi finished goods
3	If C= 200 and I= 40 Than Y will equal	A. 160 B. 240 C. 200 D. 8000
4	The largest type of income in the Pakistan is	A. Compensation of employees B. Rental income C. Proprietors income D. Coporate profits
5	Circular flow of income links	A. Income expenditure B. Govt taxes govt expenditure C. Exports ,imports D. Saving and investment
6	Per capita Incom is.	A. Income per worker B. Incomeper hea C. Income per household D. Income per industrial unit
7	Market value of all final goods and services produced in a country during a year is definition	A. GNP B. NNP C. NI D. Consumption
8	The largest type fo in come in the Pakistan is	A. Compensation of employees B. Propretors income C. Rental income D. Corporate profits
9	We measure natonalincome by this method.	A. Expenditure method B. Income method C. Product method D. As of the above
10	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