Question # 1

Which is a flow concept.

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Number of my shirts

My montly income

My total wealth

Money Supply

Total value fo all final goods and services produced annually by a country.

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NNP

GNP

GDP

NI

Consumption spending does NOT include.

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Household's purchases of clothes

Household's purchase of a car

Household's paymnet of rent for an apartment

Household's purchase of shares of a business corporation

GNP is always.

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Less than NNP

Grether than NNP

Equal to NNP

Is found from NNP

We measure natonalincome by this method.

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Expenditure method

Income method

Product method

As of the above

National income is a measure of

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The zise of government revenue

Payments made to facor of production

Production f goods per day

Total working hours

Investment spending included the purchase of.

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Lottery coupon

Prize Bond

Residential construction

all of the above

The largest type fo in come in the Pakistan is

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Compensation of employees

Propretors income

Rental income

Corporate profits

GNP is

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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

It is counted in GDP

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Sale price of an old car

A TV set produced this year but not sold

Purchase of 100 shares of PSO

The leisure people consume

It is avoided to make correct estimate of national income.

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Free services

Double counting

Export earnings

All of the above

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Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test MCQs With Answers

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