ICS Part 2 Economics English Medium Online Test With Answers

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ICS Part 2 Economics English Medium Online Test

Sr. # Questions Answers Choice
1 PI is equivalent to DPI Minus personal taxes DIP Plus unerned receipts DPI Minus income earned but not received NI plus unearned receipts minus personal taxes
2 Net investment is Gross investment minus household investment Gross investment minus govt. investment Gross investment minus capital consumption allowance None of the above
3 In erms of national income accounts, multiple counting efers to. The addition to GNP of multiple units of a good Counting cureently producedgoods more than once The inclusion in GNP of gross spending and taxes Counting both goods and services
4 GNP includes A Loan from a bank A loan from one's parents A brokers commission Gilfts and donations
5 GNP is Total Sales in the economy Total monetary transactions in an economy Sum of market values of all goods and services prodcued in an economy Totla spending in an economy
6 Undisributed proits are considered. Income enrned but not received Income eearned and received Income received but not earned None of the above
7 It is duducted from GNP to find NNP Saving Direct taxes Depreciatin allowance Subsidies
8 A TV set purchased from a retail store is an example of. Final goods Surplus goods Capital goods Intermediate goods
9 Which is a flow concept. Number of my shirts My montly income My total wealth Money Supply
10 Whis is the largest figure NNP GNP DPI PI
11 Threre are methods of measurieng natinal income 5 4 2 3
12 Which statment is true National Income = Naional expenditure - indirettaxes N1 =GNP -NNP N1 =P1 NI =NNP-Indirect taxes
13 When National income is estimated by expenditue method we include. All govt expenditure All houseolds expenditure All of the above All expenditure of the business sector
14 Direct taxes are not included in DPI PI NNP a and c above
15 Transfer payments means Bank loans The payment without work Tax payments Payments made to all factors of production
16 Transfer payments means. Bank loans The payment without work Payments made to all factors of production Tax payments
17 Which statment is true NNP =GNP- Deprection NNP =N1 NNP = DPI NNP = GNP + Depreciation
18 We measure natonalincome by this method. Expenditure method Income method Product method As of the above
19 The largest part of national income goes to Consumption Investment Saving Transfer payment
20 If we deduct direct tax from personal income we get. Net National income Disposable income Personal saving Per capital income
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