Question # 1

Circular flow of income links

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Income expenditure

Govt taxes govt expenditure

Exports ,imports

Saving and investment

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

Direct taxes are not included in

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DPI

PI

NNP

a and c above

Transfer payments means.

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Bank loans

The payment without work

Payments made to all factors of production

Tax payments

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

Which statment is true

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NNP =GNP- Deprection

NNP =N1

NNP = DPI

NNP = GNP + Depreciation

Investment spending included the purchase of.

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Lottery coupon

Prize Bond

Residential construction

all of the above

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

Which of the following would NOT be included in GNP

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Govt. Transfer payments

Got. Purchase of an air plane

Payment for construction of highway

Salary paid for the presidents secretary

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.

The largest type of income in the Pakistan is

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Compensation of employees

Rental income

Proprietors income

Coporate profits

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

GNP is always.

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Less than NNP

Grether than NNP

Equal to NNP

Is found from NNP

If indirect taxes are deducted from NNP and subsidies are added. we achieve

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Personla savings

DPI

National Income

Percapita inocme

Macroeconomics is concerned with.

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Aggregate economic activity

Spending decisions of households

Hod to produce goods

How tobuy stocks and bonds

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

Which statment is true

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National Income = Naional expenditure - indirettaxes

N1 =GNP -NNP

N1 =P1

NI =NNP-Indirect taxes

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