11th class Principles of Economics chapter 9 online mcq test with answers for I.Com part 1 Principles of Economics chapter 9(National Income)

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

Sr. #	Questions	Answers Choice
1	Individuals of a country produce a certain quantity of goods and services using the resources of the country with the help of their capital, it is called national income this definition is presented by	Professor Marshall Professor Paul A Samuelson Professor Fisher Professor Pigou
2	National income is total of	Incomes of all entrepreneurs of the country Incomes of all industrialists of the country Incomes of all salaried persons of the country Incomes of all the people of the country
3	One of the following precautions is not included in measurement of national income by product method	To subtract depreciation allowance To subtract indirect taxes Not to include transfer payments To include subsidies
4	Equilibrium level of national income means that point where	Consumption = saving Consumption = investment Income = saving + investment Saving = Investment
5	Concept of equilibrium level of national income in comprehensive way was presented by	Professor keynes Professor Marshall Professor hicks Professor Lipsay
6	Which one of the following is not called Gross national product	Economic national product Joint national product Composite national product All the three
7	Which one of the following is not included in the methods of measuring national income	Method of total according to market prices Method of total of incomes Method of total of domestic necessities and desires Method of total expenditures
8	Net foreign income is	Exports - imports Exports + imports Income received by exports Income received by imports
9	Transfer payment means that income	Which can move from one place to order place i.g. money etc. Which is received without labour, e.g. Zakat, gift , pension etc Which is received after hardwork Which is received by exports
10	Expenditures of repair of machines are called	Unproductive expenditures Productive expenditures Rewards Depreciation allowance
11	Disposable personal income is equal to	Personal income + direct taxes Personal income + indirect taxes Personal income + direct and indirect taxes Personal income - direct taxes
12	Transfer payments are included in	Gross domestic income National income Disposable personal income Personal income
13	If we subtract direct taxes from personal income, we get	Net national income Net domestic income Disposable personal income Personal savings
14	Method of measuring national income	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
15	One of the following is not included in net national product	Consumer goods Capital goods Capital formation Consumer goods and capital goods

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