Economics/Economics National Income MCQS Set-2 Sample Test,Sample questions

Question:
  Corporate tax is levied on:

1.Landlords

2.Municipal corporations

3.Joint stock companies

4.Importers

Posted Date:-2021-08-14 07:10:31


Question:
  Determinants of national income are:

1.Natural resources human resources monetary resources

2.Natural resources capital resources monetary resources

3.Natural resources capital resources human resources

4.Natural resources capital resources foreign resources

Posted Date:-2021-08-14 07:10:31


Question:
  Direct taxes are not included in:

1.NNP

2.PI

3.DPI

4.(a) and (c) of above

Posted Date:-2021-08-14 07:10:31


Question:
  If we include it  national income will be over-estimated:

1.Transfer payment

2.Income from abroad

3.Illegal income

4.Exports

Posted Date:-2021-08-14 07:10:31


Question:
  It is NOT a method to measure national income:

1.Adding all expenditure

2.Adding all incomes

3.Adding value of goods and services

4. Adding all taxes

Posted Date:-2021-08-14 07:10:31


Question:
  It is not included in estimation of national income:

1.Illegal income

2.ervices of house wifes

3.Imports

4.All are not included

Posted Date:-2021-08-14 07:10:31


Question:
  The largest part of national income goes to:

1.Consumption

2.Investment

3.Saving

4.Transfer payment

Posted Date:-2021-08-14 07:10:31


Question:
  The largest type of income in the Pakistan is: 

1.Compensation f employees

2.Proprietors income

3.Rental income

4.Corporate profits

Posted Date:-2021-08-14 07:10:31


Question:
  There are methods of measuring national income:

1.5

2.2

3.1

4.3

Posted Date:-2021-08-14 07:10:31


Question:
  This statement is true

1.Inflation does not play any role in distribution of national income

2. Inflation plays unfavourable role in distribution of national income

3.Inflation plays favourable role in distribution of national income

4. Inflation brings equality in aggregate demand and aggregate demand and aggregate supply

Posted Date:-2021-08-14 07:10:31


Question:
  Transfer payments include:

1.Daily wages pensions

2.Pensions Zakat

3.Zakat taxes

4.Taxes pocket money

Posted Date:-2021-08-14 07:10:31


Question:
  Which is a flow concept:

1.Number of my shirts

2.My total wealth

3.My monthly income

4.Money supply

Posted Date:-2021-08-14 07:10:31


Question:
  Which is the largest figure:

1.NNP

2.GNP

3.DPI

4.PI

Posted Date:-2021-08-14 07:10:31


Question:
  Which of the following is NOT macroeconomics:

1.Inflation

2.Unemployment

3.The level of output in the economy

4.Level of wages in export industry

Posted Date:-2021-08-14 07:10:31


Question:
 A TV set purchased from a retail store is an example of:

1.Intermediate good

2.Capital good

3.Surplus good

4.Final good

Posted Date:-2021-08-14 07:10:31


Question:
 If C = 200 and I = 40 then Y will equal to:

1.160

2.240

3.200

4. None of these

Posted Date:-2021-08-14 07:10:31


Question:
 If we compare GDP and GNP  then:

1.GNP = GDP - net income from abroad

2.GNP = GDP + net income from abroad

3. GNP = NNP - net income from abroad

4.GNP = NNP + net income from abroad

Posted Date:-2021-08-14 07:10:31


Question:
 It is added to GDP to get GNP

1.Depreciation allowance

2.Direct taxes

3.Subsidies

4.Net income from abroad

Posted Date:-2021-08-14 07:10:31


Question:
 It is avoided to make correct estimate of national income:

1.Free services

2.Double counting

3.Export earnings

4.All of the above

Posted Date:-2021-08-14 07:10:31


Question:
 It is deducted from GNP to get NNP:

1.Indirect taxes

2.Depreciation

3. Direct taxes

4.Transfer payment

Posted Date:-2021-08-14 07:10:31


Question:
 To avoid double counting when GDP is estimated  economists:

1.Use GDP deflator

2.Calculte value added at each stage of production

3.Use retail prices

4.Use price of only intermediate goods

Posted Date:-2021-08-14 07:10:31


Question:
 Transfer payments mean:

1.Bank loans

2.The payment without work

3.Tax payments

4.Payments made to all factors of production

Posted Date:-2021-08-14 07:10:31


Question:
 Undistributed profits are considered:

1. Income earned but not received

2.Income received but not earned

3.Income earned and received

4.None of the above

Posted Date:-2021-08-14 07:10:31


Question:
 Which of the following is transfer payment: 

1.Paument of college tuition fee

2.Payment for social security

3.Payment of interest

4.Payment for a leased car

Posted Date:-2021-08-14 07:10:31


Question:
An open economy: 

1.Must be a democracy

2.Is one without taxes

3.Is that interacts with other economies

4.Means world economy

Posted Date:-2021-08-14 07:10:31


Question:
Circular flow of income links:

1.Income expenditure

2.Exports Imports

3.Govt. taxes Govt. expenditure

4.Saving and investment

Posted Date:-2021-08-14 07:10:31


Question:
GDP stands for:

1.Great domestic progress

2.Grand development plan

3. Gross domestic product

4.Gross domestic plan

Posted Date:-2021-08-14 07:10:31


Question:
Gross national product is:

1.Total annual monetary receipts by the prople

2.Total annual spending in the economy

3.Total market value of final goods and services produced by the economy

4.All of the above

Posted Date:-2021-08-14 07:10:31


Question:
If government increases taxes  private savings: 

1.Increase

2.Decrease

3.Become negative

4.Do not change

Posted Date:-2021-08-14 07:10:31


Question:
If savings exceed investment then:

1.National income rises

2.National income falls

3.National income is not affected

4.None of the above

Posted Date:-2021-08-14 07:10:31


Question:
If we deduct direct taxes from personal income  we get

1.Net national income

2.Personal saving

3.Disposable income

4.Percapita income

Posted Date:-2021-08-14 07:10:31


Question:
In economics persons having a joint family budget are called:

1.Community

2.Gathering

3.Household

4.Organization

Posted Date:-2021-08-14 07:10:31


Question:
In equilibrium position of national income:

1.S > 1

2.S < 1

3. S = 1

4.All are true

Posted Date:-2021-08-14 07:10:31


Question:
Investment spending includes the purchase of:

1.Stocks (shares)

2.Government bonds

3.Residential construction

4.All of the above

Posted Date:-2021-08-14 07:10:31


Question:
It is transfer payment:

1.Payment of pocket money to children

2.Financial support to old parents

3.Broker s commission in some auction

4. (a) and (c) of above

Posted Date:-2021-08-14 07:10:31


Question:
Macroeconomics is concerned with:

1. Aggregate economic activity

2.Individual decision units

3.How to produce goods

4.How to buy stocks and bonds

Posted Date:-2021-08-14 07:10:31


Question:
National income is estimated by:

1.Product import and export methods

2.Product income and consumption methods

3.Product income and market methods

4.Product income and expenditure methods

Posted Date:-2021-08-14 07:10:31


Question:
National income of a country does not include:

1.Self services low wages

2.Donations and high salaries

3. Corporate taxes and gifts

4.Illegal incomes and unreported incomes

Posted Date:-2021-08-14 07:10:31


Question:
Personal income includes:

1.Direct taxes

2.Indirect taxes

3.Depreciation

4.None of the above

Posted Date:-2021-08-14 07:10:31


Question:
Personal income includes:

1.Transfer payments

2.Indirect taxes

3.Depreciation

4.All of the above

Posted Date:-2021-08-14 07:10:31


Question:
Select the correct statement:

1.Transfer payment are included in national income

2.Depreciation allowance is a part of GNP

3. Taxes are not included in NNP

4.GDP means Gross Direct Production

Posted Date:-2021-08-14 07:10:31


Question:
The goods which are used directly by the people are called:

1.Consumer goods

2.Capital good

3.Direct good

4.None of these

Posted Date:-2021-08-14 07:10:31


Question:
This statement is true

1. NI = rent + interest + wages + profit

2.NI = rent + interest + wages + taxes

3. NI = Govt. expenditure + interest + wages + profit

4.NI = rent + interest + wages + pensions

Posted Date:-2021-08-14 07:10:31


Question:
Total value of all final goods and services produced in a country during one year is:

1.NNP

2.GNP

3.GDP

4.NI

Posted Date:-2021-08-14 07:10:31


Question:
We measure national income by this method:

1.Expenditure method

2. Income method

3.Product method

4.Any of the above

Posted Date:-2021-08-14 07:10:31


Question:
When national income is estimated by expenditure method  we include:

1.All govt. expenditure

2. All household expenditure

3.All expenditure of the business sector

4.All of the above

Posted Date:-2021-08-14 07:10:31


Question:
Which measure has the larger value (for Pakistan):

1.NNP

2.GNP

3.GDP

4.NI

Posted Date:-2021-08-14 07:10:31


Question:
Which of the following is counted in GDP: 

1.Sale of used car

2.Purchase of shares of PSO (company)

3.A TV set produced this year but not sold

4.The leisure enjoyed by people

Posted Date:-2021-08-14 07:10:31


Question:
Which of the following would NOT be included in GNP:

1.Government support to the very poor

2.Government purchase of an airplane

3.Payment for construction of highway

4.The salary paid for the President s secretary

Posted Date:-2021-08-14 07:10:31


Question:
Which statement is true?

1.NNP = GNP - Depreciation

2. NNP = NI

3.NNP - DPI

4. None of these

Posted Date:-2021-08-14 07:10:31


Question:
Which statement is true?

1.Nationl Expenditure = National income

2. Nationl Expenditure = National income + National savings

3.Nationl Expenditure = National income + Taxes

4.Nationl Expenditure = National income - Taxes

Posted Date:-2021-08-14 07:10:31


Question:
Which statement is true?

1. National Income = National expenditure - indirect taxes

2. NI = GNP - NNP

3. NI = NNP - indirect taxes

4.NI = PI

Posted Date:-2021-08-14 07:10:31


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