National Income Test 1 Online Mcqs Preparation

1. To determine the correct level of GNP, it is necessary to:

A. Add up the values of goods and services during one year

B. Add up the value of semi finished goods

C. Count all imports

D. Add up all savings

2. GNP is always:

A. Equal to NNP

B. Any of (a), (b), (c)

C. Less than NNP

D. Greater than NNP

3. It is considered as investment:

A. Construction of a house

B. Salaries of college professors

C. Both (a) & (b)

D. Purchase of an old house

4. Real national income increases when:

A. National savings increase

B. Quantity of goods and services increases

C. Prices of goods are rising

D. None of the above

5. The four factor payments are:

A. Wages, rent, interest and profits

B. Money, power, prices, and wealth

C. Money, capital, salaries, and income

D. Wages, interest, salaries and income

6. Per capita income is:

A. Income per head

B. Income per household

C. Income per industrial unit

D. Income per worker

7. It is considered as transfer payments:

A. Free medical care to officers

B. Unemployment allowance paid by govt

C. Salaries of employees

D. Bonus of bank employees

8. NI = NE is an:

A. Equation

B. Identity

C. None of these

D. Function

9. Transfer payments are not included in national income because:

A. Such payments are made to persons living abroad

B. There is no method to account for these

C. Double counting would result

D. They are illegal

10. If indirect taxes are deducted from NNP and subsidies are added, we achieve:

A. DPI

B. Per capita income

C. NI

D. Personal savings

National Income Test 1 Online Mcqs Preparation

National Income Test 1 Online Mcqs Preparation

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National Income Test 1 Online Mcqs Preparation

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