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Online Tests
Icom Part 2 Principles of Economics Chapter 1 English Medium Online Test MCQs With Answers
Question # 1
It is considered as investment
Choose an answer
Construction of a house
Purchase of an old house
Salaries of college professors
a and b above
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Question # 2
In circular flow model
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Govt. owns productive resources
Firms own productive resources
Households own productive resorces
Rent of land is not included
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Question # 3
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
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Question # 4
In economics one of more persons living in a joint family are called a
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Community
Social gathering
Super family
Household
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Question # 5
National Income = Ntional Expenditure is an
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Equation
Identity
Function
None
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Question # 6
The have a functional relation
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Consumption and national income
Consumption and saving
Consumption and investment
All of the above
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Question # 7
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 # 8
GNP is always.
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Less than NNP
Grether than NNP
Equal to NNP
Is found from NNP
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Question # 9
Macroeconomics is concerned with.
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Aggregate economic activity
Spending decisions of households
Hod to produce goods
How tobuy stocks and bonds
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Question # 10
Personal income includes.
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Direct taxes
Indirect taxes
Depreciation
None of the above
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Question # 11
The four factor payments are.
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Money, Capital, salaries, and income
Wages, rent internest and profts
Money, power, Prices, and wwalth
Wags, intrest, salareis,andtaxes.
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