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


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


Question:
  Direct taxes are not included in:

1.NNP

2.PI

3.DPI

4.(a) and (c) of above


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

1.Transfer payment

2.Income from abroad

3.Illegal income

4.Exports


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


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


Question:
  The largest part of national income goes to:

1.Consumption

2.Investment

3.Saving

4.Transfer payment


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

1.Compensation f employees

2.Proprietors income

3.Rental income

4.Corporate profits


Question:
  There are methods of measuring national income:

1.5

2.2

3.1

4.3


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


Question:
  Transfer payments include:

1.Daily wages pensions

2.Pensions Zakat

3.Zakat taxes

4.Taxes pocket money


Question:
  Which is a flow concept:

1.Number of my shirts

2.My total wealth

3.My monthly income

4.Money supply


Question:
  Which is the largest figure:

1.NNP

2.GNP

3.DPI

4.PI


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


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


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

1.160

2.240

3.200

4. None of these


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


Question:
 It is added to GDP to get GNP

1.Depreciation allowance

2.Direct taxes

3.Subsidies

4.Net income from abroad


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


Question:
 It is deducted from GNP to get NNP:

1.Indirect taxes

2.Depreciation

3. Direct taxes

4.Transfer payment


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


Question:
 Transfer payments mean:

1.Bank loans

2.The payment without work

3.Tax payments

4.Payments made to all factors of production


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


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


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


Question:
Circular flow of income links:

1.Income expenditure

2.Exports Imports

3.Govt. taxes Govt. expenditure

4.Saving and investment


Question:
GDP stands for:

1.Great domestic progress

2.Grand development plan

3. Gross domestic product

4.Gross domestic plan


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


Question:
If government increases taxes  private savings: 

1.Increase

2.Decrease

3.Become negative

4.Do not change


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


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

1.Net national income

2.Personal saving

3.Disposable income

4.Percapita income


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

1.Community

2.Gathering

3.Household

4.Organization


Question:
In equilibrium position of national income:

1.S > 1

2.S < 1

3. S = 1

4.All are true


Question:
Investment spending includes the purchase of:

1.Stocks (shares)

2.Government bonds

3.Residential construction

4.All of the above


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


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


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


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


Question:
Personal income includes:

1.Direct taxes

2.Indirect taxes

3.Depreciation

4.None of the above


Question:
Personal income includes:

1.Transfer payments

2.Indirect taxes

3.Depreciation

4.All of the above


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


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


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


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


Question:
We measure national income by this method:

1.Expenditure method

2. Income method

3.Product method

4.Any of the above


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


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

1.NNP

2.GNP

3.GDP

4.NI


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


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


Question:
Which statement is true?

1.NNP = GNP - Depreciation

2. NNP = NI

3.NNP - DPI

4. None of these


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


Question:
Which statement is true?

1. National Income = National expenditure - indirect taxes

2. NI = GNP - NNP

3. NI = NNP - indirect taxes

4.NI = PI


More MCQS

  1. Class 9th Economics
  2. Class 10th Economics
  3. Economics Development
  4. Social Economics -Development
  5. Sectors of Indian Economy
  6. Indian Economy for Competitive Examinations
  7. Economics Bank System MCQS
  8. Economics National Income MCQS Set-1
  9. Economics National Income MCQS Set-2
  10. Economic Growth and Development
  11. Economics Money Banking and International Trade
  12. Economics Nature and Scope of Economics
  13. Economics Production and Production Function
  14. Economic Development and Planning
  15. Economics Balance of Payments
  16. Economics Central Bank
  17. Economics Equilibrium Of National Income
  18. Economics International Economic Organisations
  19. Economics Business and Finance
  20. Economics Economics and Commercial Geography
  21. Economics International Economic Organisations set-2
  22. Economics Money and Value of Money
  23. Economics Demand and Supply Set-1
  24. Economics Economy of Pakistan
  25. Economics Public Finance
  26. Economics Scale Of Production and Laws of Returns
  27. Economics Transport Communication and Human Resources
  28. Economics Wages Rent Interest and Profit
  29. Economics Demand and Supply Set-2
  30. Economics Great Economists and Their Work Set-1
  31. Economics Great Economists and Their Work Set-2
  32. Economics Market and Revenue Curves
  33. Economics Market Equilibrium
  34. Economics National Income Accounting Set-1
  35. Economics World Economy
  36. Economics National Income Accounting Set-2
  37. MCQ Indian Economy Set 5
  38. MCQ Indian Economy Set 1
  39. MCQ Indian Economy Set 2
  40. MCQ Indian Economy Set 3
  41. MCQ Indian Economy Set 4
  42. Indian Economy MCQs Part 1
  43. Indian Economy MCQs Part 2
Search
R4R Team
R4Rin Top Tutorials are Core Java,Hibernate ,Spring,Sturts.The content on R4R.in website is done by expert team not only with the help of books but along with the strong professional knowledge in all context like coding,designing, marketing,etc!