Question # 1

Macroeconomics is concerned with.

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Aggregate economic activity

Spending decisions of households

Hod to produce goods

How tobuy stocks and bonds

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

PI is equivalent to

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DPI Minus personal taxes

DIP Plus unerned receipts

DPI Minus income earned but not received

NI plus unearned receipts minus personal taxes

We measure natonalincome by this method.

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Expenditure method

Income method

Product method

As of the above

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

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NNP

GNP

GDP

NI

Market value of all final goods and services produced in a country during a year is definition

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GNP

NNP

NI

Consumption

Circular flow of income links

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Income expenditure

Govt taxes govt expenditure

Exports ,imports

Saving and investment

The largest type fo in come in the Pakistan is

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Compensation of employees

Propretors income

Rental income

Corporate profits

Undisributed proits are considered.

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Income enrned but not received

Income eearned and received

Income received but not earned

None of the above

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

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

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

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