11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	The most appropriate definition of money was given by:	F.A.Walker Keynes Pigou Crowther
2	Money which can be converted into cash money is known is:	Near money Paper money Legal tender money Token money
3	If the face value of a coin is greater than the value of metal used in:	Legal money Token money Standard money Both b and c
4	If the face value of a coin is equal to the value of metal used in:	Legal money Token money Standard money Both b and c
5	If currency can converted into gold, it is called:	Convertible paper money Inconvertible paper money Bank Money Both a and b
6	"Money is what money does" is the statements of:	Robbins Marshall Hicks Keynes
7	Difficulties in barter system:	Lack of double coincidence of wants Lack of storing value Lack of common measure of value All of these
8	A system where the goods are exchanged with money is known as:	Monetary system Barter system Coins system Modified system
9	A system where the goods are exchange with goods is known as:	Monetary system Barter System Coins system Goods system
10	The income which a person can use according to his will called:	Net income Per capital income Personal income Disposable personal income
11	Net foreign income means:	Import - Exports Exports - Imports Import + Exports Income from imports
12	Transfer payment means:	Rent transfer Wages transfer Reward without services Profit transfer
13	Equilibrium level of national income means that point where:	Consumption = Saving Consumption = Investment Saving = Investment Income = Saving + Investment
14	Market value of all final goods and services is known as:	N.I G.N.P N.N.P Both a and b
15	Direct taxes are not included in:	Personal income G.N.P G.D.P Disposable personal income

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