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This online test contains MCQs about following topics:
. Various concepts of national income . Measurement of national income . Product method . Income method . Expenditue method . CIrcular flow of national income . Factors of national income . Importance of study of national income
ICOM Part 1 Economics Ch 9 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 9 "Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test"
Try The MCQ's Test For Chapter 9 "Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test
00:00
Question # 1
To measure national income is used
Question # 2
------------ is not included in gross domestic product
Question # 3
According to professor Ackley Gardener, amounts are included in national income
Question # 4
Firms earn abnormal profit when:
Question # 5
What is deducted from the GNP to get GDP
Question # 6
Disposable personal income is equal to
Question # 7
A firm suffers abnormal losse, when:
Question # 8
Main elements of circular flow of national income are
Question # 9
After deducting direct tax from personal income, it is called
Question # 10
According to whom economist, National income is the name of the total of production of goods and services
Question # 11
One of the following precautions is not included in measurement of national income by product method
Question # 12
Expenses of wears and tears of machinery are called
Question # 13
Net foreign income is
Question # 14
In the long run monopolist earns profit:
Question # 15
Basic object of a firm is to get maximum:
11th Principle of Economics Chapter 9 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 9 National Income Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 9 "Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test" MCQ`s Test
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A Aliya hassan 05 - Dec - 2020 02 Min 15 Sec 14/15 -
M Muhammad Hammad Shekhani 01 - Jul - 2021 05 Min 59 Sec 13/15 -
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K KAZIM ALI 23 - Feb - 2019 04 Min 55 Sec 12/15 -
A Asif Iqbal 20 - Apr - 2023 05 Min 20 Sec 12/15 -
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A Ali hamza 25 - Dec - 2018 02 Min 58 Sec 11/15 -
N Naveera 01 - Jun - 2021 02 Min 59 Sec 11/15 -
H Hamza 23 - Aug - 2021 04 Min 22 Sec 11/15 -
A amir rasheed 10 - Apr - 2018 05 Min 12 Sec 11/15 -
M Minahil Asif 04 - Jun - 2024 01 Min 45 Sec 10/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In the long run firms mostly earn normal profit in: |
A. Perfect competition
B. Oliogopoly
C. Monopoly
D. Duopoly
|
| 2 | Main elements of circular flow of national income are |
A. People or house holds
B. Firms
C. House holds and firms
D. Industrial lists
|
| 3 | Transfer payment means that income |
A. Which can move from one place to order place i.g. money etc.
B. Which is received without labour, e.g. Zakat, gift , pension etc
C. Which is received after hardwork
D. Which is received by exports
|
| 4 | Transfer payments are included in the income |
A. National income
B. Gross domestic product
C. Personal income
D. Disposable personal income
|
| 5 | One of the following precautions is not included in measurement of national income by product method |
A. To subtract depreciation allowance
B. To subtract indirect taxes
C. Not to include transfer payments
D. To include subsidies
|
| 6 | A firm gains abnormal profit, when: |
A. TR = TC
B. TR > TC
C. TR < TC
D. MC = MR
|
| 7 | ------------------- are added in national income |
A. Depreciation allowance
B. Subsidies
C. Indirect taxes
D. Direct taxes
|
| 8 | A firm is in equilibrium, where: |
A. AR = MR
B. AC = MC
C. AC = MR
D. MC = MR
|
| 9 | Net national product is found by |
A. Subtracting tax from gross national product
B. Subtracting transfer payments form gross national product
C. Subtracting depreciation allowance from gross national product
D. Subtracting subsidies from gross national product
|
| 10 | A firm gains normat profit, where: |
A. P=AC
B. P>AC
C. P<AC
D. AC>AR
|
| 11 | At shut down position: |
A. AC = AR
B. AVC = AR
C. AVC < AR
D. AVC > AR
|
| 12 | Which one of the following is not called Gross national product |
A. Economic national product
B. Joint national product
C. Composite national product
D. All the three
|
| 13 | Disposable personal income is equal to |
A. Personal income + direct taxes
B. Personal income + indirect taxes
C. Personal income + direct and indirect taxes
D. Personal income - direct taxes
|
| 14 | Price discrimination policy refers to: |
A. Single price
B. Two prices
C. Multiple prices
D. None of these
|
| 15 | What is deducted from the GNP to get GDP |
A. Depreciation allowances
B. Net income received from abroad
C. Indirect tax
D. Transnfer payments
|
Test Questions
