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Online Tests
Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test MCQs With Answers
Question # 1
National Income is.
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Total Income earned in producing the national product
All taxes plus govt. spending
Sum of personal income and saving
NNP minus the capital consumption allowance
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Question # 2
If indirect taxes are deducted from NNP and subsidies are added. we achieve
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Personla savings
DPI
National Income
Percapita inocme
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Question # 3
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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Question # 4
Govt. transfer payment include
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Social security benefits
Welfare benefits
Student scholarships
All of the above
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Question # 5
Which of the following would NOT be included in GNP
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Govt. Transfer payments
Got. Purchase of an air plane
Payment for construction of highway
Salary paid for the presidents secretary
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Question # 6
Direct taxes are not included in
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DPI
PI
NNP
a and c above
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Question # 7
To determine the correct level of GNP ,it is necessary to.
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Add up the values of goods and services during one year
Add up allsavings
Count all imports
Add up the value of semi finished goods
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Question # 8
Transfer payments means
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Bank loans
The payment without work
Tax payments
Payments made to all factors of production
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Question # 9
It is considred as transfer payments
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Salaries of govet emplyees
Bonus of bank employees
Inemployment allowance paid by govt
Free medical are to offers.
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Question # 10
A TV set purchased from a retail store is an example of.
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Final goods
Surplus goods
Capital goods
Intermediate goods
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Question # 11
Country is poor if it has.
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Less production of gods per capita
Less amount of gold
Less amout of foreign currency
Less exports
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