ICS Part 2 Economics English Medium Chapter 1 Online Test With Answers

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ICS Part 2 Economics English Medium Chapter 1 Online Test

Sr. # Questions Answers Choice
1 Transfer payments include. Daily wages, pensions Pensions Zakat Taxes, pocket money Zakat , taxes
2 Circular flow of income links Income expenditure Govt taxes govt expenditure Exports ,imports Saving and investment
3 The goods which arw used directly by the people are called. Consumer goods Capital good Direct good None
4 It is not included in estimation of national incoe Illegal income Services of house wife Imports All are not included
5 It is avoided to make correct estimate of national income. Free services Double counting Export earnings All of the above
6 If we include it. national income will be over estimated Transfer payment Income from abroad Illegal income Exports
7 If saving exceed investment then National income rises National income falls National income is not affected None of the above
8 Which measure has the larger value . NNP GNP GDP NI
9 Total value of allfinal goods andservices produced annually by a country. NNP GNP GDP NI
10 The largest type of income in the Pakistan is Compensation of employees Rental income Proprietors income Coporate profits
11 In economics one of more persons living in a joint family are called a Community Social gathering Super family Household
12 A closed economy is best described as one in which thre are no monopolies No corporations No extemalities No international trade
13 Macroeconomics is concerned with. Aggregate economic activity Spending decisions of households Hod to produce goods How tobuy stocks and bonds
14 Gross nationa product includes A loan from one's parents A loan from a domestic bank A loan from other countries None of theabove
15 The have a functional relation Consumption and national income Consumption and saving Consumption and investment All of the above
16 Country is poor if it has. Less production of gods per capita Less amount of gold Less amout of foreign currency Less exports
17 The largest type fo in come in the Pakistan is Compensation of employees Propretors income Rental income Corporate profits
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