National Income Test 1 Online Mcqs Preparation Malik Asghar — April 23, 2018 in Economics • add comment National Income Test 1 Online Mcqs Preparation 1. Transfer payments are not included in national income because:A. Double counting would resultB. There is no method to account for theseC. They are illegalD. Such payments are made to persons living abroad Loading... 2. Real national income increases when:A. Prices of goods are rising B. National savings increaseC. None of the aboveD. Quantity of goods and services increases Loading... 3. To determine the correct level of GNP, it is necessary to:A. Add up the values of goods and services during one year B. Count all importsC. Add up all savingsD. Add up the value of semi finished goods Loading... 4. It is considered as investment:A. Salaries of college professorsB. Both (a) & (b)C. Construction of a houseD. Purchase of an old house Loading... 5. If indirect taxes are deducted from NNP and subsidies are added, we achieve:A. NIB. DPIC. Per capita incomeD. Personal savings Loading... 6. NI = NE is an:A. Equation B. None of theseC. IdentityD. Function Loading... 7. Per capita income is:A. Income per industrial unitB. Income per headC. Income per household D. Income per worker Loading... 8. It is considered as transfer payments:A. Free medical care to officersB. Unemployment allowance paid by govtC. Bonus of bank employeesD. Salaries of employees Loading... 9. GNP is always:A. Any of (a), (b), (c)B. Less than NNP C. Equal to NNPD. Greater than NNP Loading... 10. The four factor payments are:A. Wages, rent, interest and profitsB. Wages, interest, salaries and incomeC. Money, capital, salaries, and income D. Money, power, prices, and wealth Loading... Loading...
