Question # 1

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

Investment spending included the purchase of.

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Lottery coupon

Prize Bond

Residential construction

all of the above

If govermment increases taxes pivate savings.

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Increase

Decrease

Do not change

Will become zero

Gross nationa product includes

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A loan from one's parents

A loan from a domestic bank

A loan from other countries

None of theabove

Which statment is true

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National Income = Naional expenditure - indirettaxes

N1 =GNP -NNP

N1 =P1

NI =NNP-Indirect taxes

If C= 200 and I= 40 Than Y will equal

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160

240

200

8000

In calculating national income which one will NOT be included.

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Exports

Old age pensions

Wages of lecturer

Undistributed profit by firms

In erms of national income accounts, multiple counting efers to.

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The addition to GNP of multiple units of a good

Counting cureently producedgoods more than once

The inclusion in GNP of gross spending and taxes

Counting both goods and services

Whis is the largest figure

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NNP

GNP

DPI

PI

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

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

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

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