Question # 1

Transfer payments means

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Bank loans

The payment without work

Tax payments

Payments made to all factors of production

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

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

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Final goods

Surplus goods

Capital goods

Intermediate goods

Transfer payments include.

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Daily wages, pensions

Pensions Zakat

Taxes, pocket money

Zakat , taxes

Net investment is

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Gross investment minus household investment

Gross investment minus govt. investment

Gross investment minus capital consumption allowance

None of the above

If we deduct direct tax from personal income we get.

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Net National income

Disposable income

Personal saving

Per capital income

If govermment increases taxes pivate savings.

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Increase

Decrease

Do not change

Will become zero

Transfer payments means.

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Bank loans

The payment without work

Payments made to all factors of production

Tax payments

Direct taxes are not included in

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DPI

PI

NNP

a and c above

The have a functional relation

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Consumption and national income

Consumption and saving

Consumption and investment

All of the above

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

Which of the following would NOT be included in GNP

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Govt. Transfer payments

Got. Purchase of an air plane

Payment for construction of highway

Salary paid for the presidents secretary

The largest part of national income goes to

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Consumption

Investment

Saving

Transfer payment

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

The largest type of income in the Pakistan is

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Compensation of employees

Rental income

Proprietors income

Coporate profits

It is considered as investment

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Construction of a house

Purchase of an old house

Salaries of college professors

a and b above

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