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	Country is poor if it has.	A. Less production of gods per capita B. Less amount of gold C. Less amout of foreign currency D. Less exports
2	Whis is the largest figure	A. NNP B. GNP C. DPI D. PI
3	If we include it. national income will be over estimated	A. Transfer payment B. Income from abroad C. Illegal income D. Exports
4	In economics one of more persons living in a joint family are called a	A. Community B. Social gathering C. Super family D. Household
5	It is not included in estimation of national incoe	A. Illegal income B. Services of house wife C. Imports D. All are not included
6	The largest type of income in the Pakistan is	A. Compensation of employees B. Rental income C. Proprietors income D. Coporate profits
7	Macroeconomics is concerned with.	A. Aggregate economic activity B. Spending decisions of households C. Hod to produce goods D. How tobuy stocks and bonds
8	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
9	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.
10	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