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 GNP includes A Loan from a bank A loan from one's parents A brokers commission Gilfts and donations
2 GNP is 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
3 Undisributed proits are considered. Income enrned but not received Income eearned and received Income received but not earned None of the above
4 It is duducted from GNP to find NNP Saving Direct taxes Depreciatin allowance Subsidies
5 A TV set purchased from a retail store is an example of. Final goods Surplus goods Capital goods Intermediate goods
6 Which is a flow concept. Number of my shirts My montly income My total wealth Money Supply
7 Whis is the largest figure NNP GNP DPI PI
8 Threre are methods of measurieng natinal income 5 4 2 3
9 Which statment is true National Income = Naional expenditure - indirettaxes N1 =GNP -NNP N1 =P1 NI =NNP-Indirect taxes
10 When National income is estimated by expenditue method we include. All govt expenditure All houseolds expenditure All of the above All expenditure of the business sector
11 Direct taxes are not included in DPI PI NNP a and c above
12 Transfer payments means Bank loans The payment without work Tax payments Payments made to all factors of production
13 Transfer payments means. Bank loans The payment without work Payments made to all factors of production Tax payments
14 Which statment is true NNP =GNP- Deprection NNP =N1 NNP = DPI NNP = GNP + Depreciation
15 We measure natonalincome by this method. Expenditure method Income method Product method As of the above
16 The largest part of national income goes to Consumption Investment Saving Transfer payment
17 If we deduct direct tax from personal income we get. Net National income Disposable income Personal saving Per capital income
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