Question # 1

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.

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

Transfer payments include.

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Daily wages, pensions

Pensions Zakat

Taxes, pocket money

Zakat , taxes

Circular flow of income links

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Income expenditure

Govt taxes govt expenditure

Exports ,imports

Saving and investment

Corporae tax is levied on

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Landdlords

Inporters

Big companies

Municipal corporations

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

Whis is the largest figure

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NNP

GNP

DPI

PI

It is not included in estimation of national incoe

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Illegal income

Services of house wife

Imports

All are not included

It is duducted from GNP to find NNP

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Saving

Direct taxes

Depreciatin allowance

Subsidies

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.

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

Per capita Incom is.

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Income per worker

Incomeper hea

Income per household

Income per industrial unit

It is avoided to make correct estimate of national income.

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Free services

Double counting

Export earnings

All 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

National Income = Ntional Expenditure is an

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Equation

Identity

Function

None

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

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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Economics Ics Part 2 English Medium Chapter 1 Online Test MCQs With Answers

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