More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test MCQs With Answers
Question # 1
Disposable personal income means
Choose an answer
Total of incomes
Income of an industry after fulfilling all the needs
After paying personal taxes, income of the people who provide factors of production
Save income of a person after the payment of the taxes
Previous
Skip
Next
Question # 2
------------------- are added in national income
Choose an answer
Depreciation allowance
Subsidies
Indirect taxes
Direct taxes
Previous
Skip
Next
Question # 3
One of the following is not included in net national product
Choose an answer
Consumer goods
Capital goods
Capital formation
Consumer goods and capital goods
Previous
Skip
Next
Question # 4
Basic object of a firm is to get maximum:
Choose an answer
Price
Profit
Production
All of three
Previous
Skip
Next
Question # 5
Which is not counted in national income
Choose an answer
Interests
transfer payments
Profits
Rents
Previous
Skip
Next
Question # 6
In the long run monopolist earns profit:
Choose an answer
Normal
Abnormal
Super normal
Both b and c
Previous
Skip
Next
Question # 7
A firm gains abnormal profit, when:
Choose an answer
TR = TC
TR > TC
TR < TC
MC = MR
Previous
Skip
Next
Question # 8
Gross national product means
Choose an answer
Total of price of all goods produced in a country in year
Total of price of all consumer goods produced in the economy during a year
Total of goods and services produced in the economy during a year
Total of monetary value of goods and services produced during a year in the economy
Previous
Skip
Next
Question # 9
A firm is in equilibrium, where:
Choose an answer
AR = MR
AC = MC
AC = MR
MC = MR
Previous
Skip
Next
Question # 10
Which thing should be added in net national product to get gross national product
Choose an answer
Direct taxes
Indirect taxes
Depreciation allowance
Subsidies
Previous
Skip
Next
Question # 11
Method of measuring national income
Choose an answer
National income=Gross national product - depreciation allowance
National income= Net national product - Indirect costs
National income= Net national product + subsidies
National income= Net national product - indirect taxes + subsidies
Previous
Skip
Next
Question # 12
Price discrimination policy refers to:
Choose an answer
Single price
Two prices
Multiple prices
None of these
Previous
Skip
Next
Question # 13
If we subtract direct taxes from personal income, we get
Choose an answer
Net national income
Net domestic income
Disposable personal income
Personal savings
Previous
Skip
Next
Question # 14
"National income is that part of material wealth of a nation which can be measured by the scale of money" This definition of national income is stated by the economist
Choose an answer
Marshall
Pigou
Adam smith
Clark
Previous
Skip
Next
Question # 15
At shut down position:
Choose an answer
AC = AR
AVC = AR
AVC < AR
AVC > AR
Previous
Skip
Next
Question # 16
If MC=MR=AR=AC=P, then a firms gains:
Choose an answer
Super profit
Normal profit
Normal loss
Abnormal loss
Previous
Skip
Next
Back