Question # 1

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

If we deduct direct tax from personal income we get.

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Net National income

Disposable income

Personal saving

Per capital income

Which measure has the larger value .

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NNP

GNP

GDP

NI

Transfer payments are not included in national income becaues.

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Such payments are made to persons livnig abroad

Double counting would result

They are illegal

There is no method to account for these

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

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

Net Exports are

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Total Exports plus total imports

Total exports minus total imports

Total exports divided by total imports

Total imports minus total exports

It is duducted from GNP to find NNP

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Saving

Direct taxes

Depreciatin allowance

Subsidies

Direct taxes are not included in

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DPI

PI

NNP

a and c above

Circular flow of income links

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Income expenditure

Govt taxes govt expenditure

Exports ,imports

Saving and investment

Net investment is

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Gross investment minus household investment

Gross investment minus govt. investment

Gross investment minus capital consumption allowance

None of the above

If saving exceed investment then

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National income rises

National income falls

National income is not affected

None of the above

National Income = Ntional Expenditure is an

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Equation

Identity

Function

None

The largest type of income in the Pakistan is

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Compensation of employees

Rental income

Proprietors income

Coporate profits

The have a functional relation

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Consumption and national income

Consumption and saving

Consumption and investment

All of the above

If govermment increases taxes pivate savings.

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Increase

Decrease

Do not change

Will become zero

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

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

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