12th class Economics chapter 1 online mcq test with answers for ICS part 2 Economics chapter 1 (National Income)

Top Scorers Of Chapter 0 "ICS Part 2 Economics English Medium Chapter 1 Online Test" MCQ`s Test

Sr.#	Question	Answer
1	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
2	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
3	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
4	Total value fo all final goods and services produced annually by a country.	A. NNP B. GNP C. GDP D. NI
5	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
6	Which is a flow concept.	A. Number of my shirts B. My montly income C. My total wealth D. Money Supply
7	Which measure has the larger value .	A. NNP B. GNP C. GDP D. NI
8	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
9	Transfer payments means	A. Bank loans B. The payment without work C. Tax payments D. Payments made to all factors of production
10	We measure natonalincome by this method.	A. Expenditure method B. Income method C. Product method D. As of the above