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 Corporae tax is levied on Landdlords Inporters Big companies Municipal corporations
2 If C= 200 and I= 40 Than Y will equal 160 240 200 8000
3 If govermment increases taxes pivate savings. Increase Decrease Do not change Will become zero
4 It is counted in GDP 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
5 It is transfer payment Payment o college tuition A social securiy payment Payment for a leased car Intrest paid for a bank loan
6 The four factor payments are. Money, Capital, salaries, and income Wages, rent internest and profts Money, power, Prices, and wwalth Wags, intrest, salareis,andtaxes.
7 GNP is always. Less than NNP Grether than NNP Equal to NNP Is found from NNP
8 It is considred as transfer payments Salaries of govet emplyees Bonus of bank employees Inemployment allowance paid by govt Free medical are to offers.
9 It is considered as investment Construction of a house Purchase of an old house Salaries of college professors a and b above
10 Real national income increases when Prics of goods are rising National savings increases Quantity of goods and services increases None of the above
11 To determine the correct level of GNP ,it is necessary to. 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
12 Transfer payments are not included in national income becaues. Such payments are made to persons livnig abroad Double counting would result They are illegal There is no method to account for these
13 If indirect taxes are deducted from NNP and subsidies are added. we achieve Personla savings DPI National Income Percapita inocme
14 Per capita Incom is. Income per worker Incomeper hea Income per household Income per industrial unit
15 National Income = Ntional Expenditure is an Equation Identity Function None
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