Question # 1

Which thing should be added in net national product to get gross national product

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Direct taxes

Indirect taxes

Depreciation allowance

Subsidies

What remains after the deduction of direct tax from the personal income

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NNP

NNI

DPI

GNP

According to professor Ackley Gardener, amounts are included in national income

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Wages

Rents and interests

Profits

All the three

Firms earn abnormal profit when:

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AR = AC

AR < AC

AR > AC

AC = AR

After subtracting depreciation allowance from gross national product is known

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National income

Net national product

Personal income

Gross domestic product

A firm is in equilibrium, where:

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AR = MR

AC = MC

AC = MR

MC = MR

National income means the income

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Which central government earns during a year

Which provincial government earn during a year

Total wealth of a country

Rewards which the factors of production get during a year

A firm gains normat profit, where:

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P=AC

P>AC

P<AC

AC>AR

After deducting direct tax from personal income, it is called

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National income

personal income

Disposable personal income

per capital income

Which is subtracted from gross national product to find gross domestic product

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Depreciation allowance

Net income received from foreign sources

Indirect taxes

Transfer payments

Price discrimination policy refers to:

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Single price

Two prices

Multiple prices

None of these

Which is not counted in national income

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Interests

transfer payments

Profits

Rents

Expenditures of repair of machines are called

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Unproductive expenditures

Productive expenditures

Rewards

Depreciation allowance

Which one of the following is not included in the methods of measuring national income

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Method of total according to market prices

Method of total of incomes

Method of total of domestic necessities and desires

Method of total expenditures

Transfer payments are included in the income

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National income

Gross domestic product

Personal income

Disposable personal income

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Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test MCQs With Answers

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