Top 80+ Solved Introductory Economics 2 MCQ Questions Answer
Q. Which of the following is an example of Transfer Income?
a. bonus
b. unemployment allowance
c. compensation from the employer
d. all of these
Q. Which of the following is an example of an intermediate good?
a. car sold by a dealer of second hand cars
b. steel and cement used to construct a flyover
c. fertilizers purchased by a farmer
d. all of these
Q. Out of the following, which aggregate represents 'National Income'?
a. nnp mp
b. gnp fc
c. nnp fc
d. gnp mp
Q. if facor income received from abroad is equal to factor income paid abroad, then which ofthe following is not a valid statement?
a. national income = domestic income
b. ndp fc + depreciation = gnp fc
c. ndp fc + depreciation = gnp mp
d. all are valid
Q. Cororate tax is not a part of :
a. personal income
b. naional income
c. domestic income
d. private income
Q. If economic subsidies are added to and Indirect taxes are substracted from the nationalincome at market prices, then it will be equal to :
a. domestic income
b. national income
c. gnp at market price
d. gdp at factor cost
Q. In which type of economy, domestic income is equal to national income?
a. open economy
b. closed economy
c. both a and b
d. neither a nor b
Q. Which of the following ia a part of National Income?
a. old age pension
b. unemployment allowance
c. profit
d. scholarship
Q. NDP at FC is less than National Income when:
a. net factor income from abroad is positive
b. net factor income from abroad is negative
c. net factor income from abroad is zero
d. net exports are positive
Q. National income is equal to:
a. domestic product plus factor income earned from abroad
b. domestic product plus net factor income earned from abroad
c. domestic product mins factor income earned from abroad
d. domestic product plus export minus imports
Q. is the net amount available to households for consuption and saving
a. national income
b. personal income
c. personal disposable income
d. government income
Q. GNP exceeds NNP by:
a. amount of total taxes
b. government expenditure
c. transfer payments
d. difference between gross investment and net investment
Q. "Income method" is also known as:
a. distributive share method
b. income disposal method
c. industrial origin method
d. none of these