Question # 1

If govermment increases taxes pivate savings.

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Increase

Decrease

Do not change

Will become zero

It would increase the lvel of national income.

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An increase in taxation

A reduction in governmnet spending

An increase in exports

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If C= 200 and I= 40 Than Y will equal

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160

240

200

8000

It is avoided to make correct estimate of national income.

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Double counting

Export earnings

All of the above

The largest type of income in the Pakistan is

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Compensation of employees

Rental income

Proprietors income

Coporate profits

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

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NNP

GNP

GDP

NI

Direct taxes are not included in

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DPI

PI

NNP

a and c above

PI is equivalent to

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DPI Minus personal taxes

DIP Plus unerned receipts

DPI Minus income earned but not received

NI plus unearned receipts minus personal taxes

The goods which arw used directly by the people are called.

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Consumer goods

Capital good

Direct good

None

National Income is.

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Total Income earned in producing the national product

All taxes plus govt. spending

Sum of personal income and saving

NNP minus the capital consumption allowance

National income is a measure of

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The zise of government revenue

Payments made to facor of production

Production f goods per day

Total working hours

It is duducted from GNP to find NNP

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Saving

Direct taxes

Depreciatin allowance

Subsidies

In circular flow model

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Govt. owns productive resources

Firms own productive resources

Households own productive resorces

Rent of land is not included

Transfer payments means

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Bank loans

The payment without work

Tax payments

Payments made to all factors of production

Real national income increases when

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Prics of goods are rising

National savings increases

Quantity of goods and services increases

None of the above

When National income is estimated by expenditue method we include.

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All govt expenditure

All houseolds expenditure

All of the above

All expenditure of the business sector

The four factor payments are.

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Money, Capital, salaries, and income

Wages, rent internest and profts

Money, power, Prices, and wwalth

Wags, intrest, salareis,andtaxes.

Transfer payments are not included in national income becaues.

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Such payments are made to persons livnig abroad

Double counting would result

They are illegal

There is no method to account for these

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