Corporate tax is levied on:
1.Landlords
2.Municipal corporations
3.Joint stock companies
4.Importers
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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
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Direct taxes are not included in:
1.NNP
2.PI
3.DPI
4.(a) and (c) of above
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If we include it national income will be over-estimated:
1.Transfer payment
2.Income from abroad
3.Illegal income
4.Exports
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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
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It is not included in estimation of national income:
1.Illegal income
2.ervices of house wifes
3.Imports
4.All are not included
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The largest part of national income goes to:
1.Consumption
2.Investment
3.Saving
4.Transfer payment
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The largest type of income in the Pakistan is:
1.Compensation f employees
2.Proprietors income
3.Rental income
4.Corporate profits
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There are methods of measuring national income:
1.5
2.2
3.1
4.3
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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
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Transfer payments include:
1.Daily wages pensions
2.Pensions Zakat
3.Zakat taxes
4.Taxes pocket money
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Which is a flow concept:
1.Number of my shirts
2.My total wealth
3.My monthly income
4.Money supply
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Which is the largest figure:
1.NNP
2.GNP
3.DPI
4.PI
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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
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A TV set purchased from a retail store is an example of:
1.Intermediate good
2.Capital good
3.Surplus good
4.Final good
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If C = 200 and I = 40 then Y will equal to:
1.160
2.240
3.200
4. None of these
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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
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It is added to GDP to get GNP
1.Depreciation allowance
2.Direct taxes
3.Subsidies
4.Net income from abroad
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It is avoided to make correct estimate of national income:
1.Free services
2.Double counting
3.Export earnings
4.All of the above
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It is deducted from GNP to get NNP:
1.Indirect taxes
2.Depreciation
3. Direct taxes
4.Transfer payment
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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
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Transfer payments mean:
1.Bank loans
2.The payment without work
3.Tax payments
4.Payments made to all factors of production
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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
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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
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An open economy:
1.Must be a democracy
2.Is one without taxes
3.Is that interacts with other economies
4.Means world economy
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Circular flow of income links:
1.Income expenditure
2.Exports Imports
3.Govt. taxes Govt. expenditure
4.Saving and investment
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GDP stands for:
1.Great domestic progress
2.Grand development plan
3. Gross domestic product
4.Gross domestic plan
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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
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If government increases taxes private savings:
1.Increase
2.Decrease
3.Become negative
4.Do not change
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If savings exceed investment then:
1.National income rises
2.National income falls
3.National income is not affected
4.None of the above
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If we deduct direct taxes from personal income we get
1.Net national income
2.Personal saving
3.Disposable income
4.Percapita income
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In economics persons having a joint family budget are called:
1.Community
2.Gathering
3.Household
4.Organization
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In equilibrium position of national income:
1.S > 1
2.S < 1
3. S = 1
4.All are true
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Investment spending includes the purchase of:
1.Stocks (shares)
2.Government bonds
3.Residential construction
4.All of the above
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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
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Macroeconomics is concerned with:
1. Aggregate economic activity
2.Individual decision units
3.How to produce goods
4.How to buy stocks and bonds
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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
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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
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Personal income includes:
1.Direct taxes
2.Indirect taxes
3.Depreciation
4.None of the above
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Personal income includes:
1.Transfer payments
2.Indirect taxes
3.Depreciation
4.All of the above
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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
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The goods which are used directly by the people are called:
1.Consumer goods
2.Capital good
3.Direct good
4.None of these
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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
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Total value of all final goods and services produced in a country during one year is:
1.NNP
2.GNP
3.GDP
4.NI
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We measure national income by this method:
1.Expenditure method
2. Income method
3.Product method
4.Any of the above
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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
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Which measure has the larger value (for Pakistan):
1.NNP
2.GNP
3.GDP
4.NI
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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
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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
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Which statement is true?
1.NNP = GNP - Depreciation
2. NNP = NI
3.NNP - DPI
4. None of these
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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
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Which statement is true?
1. National Income = National expenditure - indirect taxes
2. NI = GNP - NNP
3. NI = NNP - indirect taxes
4.NI = PI
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