Question # 1

GNP is always.

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Less than NNP

Grether than NNP

Equal to NNP

Is found from NNP

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

Investment spending included the purchase of.

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Lottery coupon

Prize Bond

Residential construction

all of the above

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

GNP includes

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A Loan from a bank

A loan from one's parents

A brokers commission

Gilfts and donations

It is considered as investment

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Construction of a house

Purchase of an old house

Salaries of college professors

a and b above

A closed economy is best described as one in which

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thre are no monopolies

No corporations

No extemalities

No international trade

Transfer payments means

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Bank loans

The payment without work

Tax payments

Payments made to all factors of production

Which is a flow concept.

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Number of my shirts

My montly income

My total wealth

Money Supply

Corporae tax is levied on

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Landdlords

Inporters

Big companies

Municipal corporations

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

Circular flow of income links

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Income expenditure

Govt taxes govt expenditure

Exports ,imports

Saving and investment

It is not included in estimation of national incoe

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Illegal income

Services of house wife

Imports

All are not included

In economics one of more persons living in a joint family are called a

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Community

Social gathering

Super family

Household

If C= 200 and I= 40 Than Y will equal

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160

240

200

8000

Threre are methods of measurieng natinal income

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5

4

2

3

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

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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