National Income Test 7 Online Mcqs Preparation

1. GNP is always:

A. Equal to NNP

B. Greater than NNP

C. Greater in many years but less in others

D. Less than NNP

2. The four factor payments are:

A. Money, capital, salaries, and income

B. Wages, interest, salaries and income

C. Wages, rent, interest and profits

D. Money, power, prices and wealth

3. Which of the following is transfer payment:

A. Payment of interest

B. Payment for a leased car

C. Payment of college tuition fee

D. Payment for social security

4. In economics, one or more persons living in a joint family are called a:

A. Super family

B. Business firm

C. Household

D. Social gathering

5. Which of the following is counted in GDP:

A. A TV set produced this year but not sold

B. Sale of used car

C. Purchase of shares of PSO (company)

D. The leisure enjoyed by people

6. Macroeconomics is concerned with:

A. Aggregate economic activity

B. How to produce goods

C. How to but stocks and bonds

D. Spending decisions of households

7. Which of the following is not macroeconomics:

A. Unemployment

B. The level of output in the economy

C. Level of wages in garment industry

D. Inflation

8. A closed economy is best described as one in which:

A. There are no monopolies

B. No international trade

C. No externalizes

D. No corporations

9. An open economy:

A. Means world economy

B. Must be a democracy

C. Is that interacts with other economies

D. Is one without taxes

10. The largest type of income in the Pakistan is:

A. Rental income

B. Corporate profits

C. Proprietors income

D. Compensation of employees

National Income Test 7 Online Mcqs Preparation

National Income Test 7 Online Mcqs Preparation

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National Income Test 7 Online Mcqs Preparation

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