Economics Multiple Choice Questions (MCQs) and Answers
Most expected Economics mcqs Quiz
Q1:-Per Capita Income is :
- Income per worker
- Income Per Head
- Income per household
- Income per Industrial Unit
Ans:- Income Per head
Q2:-If direct taxes are deducted from NNP and subsidies are added , we achieve:
- Personal Saving
- NI
- Per Capita Income
- DPI
- None of the above
Ans:- NI
Q3:- Transfer Payments are not included in national income because:
- Such payments are made to persons living abroad
- They are illegal
- Double counting would result
- None of the above
Ans:- Double counting would result
Q4:- To determine the correct level of GNP, it is necessary to :
- count all imports
- Add up all savings
- Add up the values of goods and services during one year
- Add up the value of Semi-finished goods
Ans:- Add up the values of goods and services during one year
Q5:- Real National Income increases when:
- Prices of Goods are rising
- National saving increases
- Quantity of goods and services increases
- None of the above
Ans:-Quantity of goods and services increases
Q6:- It is considered as investment:
- Construction of a house
- Purchase of an old house
- salaries of college professors
- None of the above
Ans:- Construction of a house
Q7:- It is considered as transfer payments:
- Construction of a house
- Bonus of bank employees
- Unemployment allowance paid by govt
- None of the above
Ans:- Unemployment allowance paid by govt
Q8:-GNP is always:
- Less than NNP
- Greater than NNP
- Equal to NNP
- None of the above
Ans:- Greater than NNP
Q9:- The four factor payments are:
- Money , capital , salaries and income
- Wages , rent , interest and profits
- Money, Power , Price and wealth
- Wages,interest , salaries and profits
Ans:- Wages , rent , interest and profits
Q10:-It is transfer payment:
- payment of college tuition
- A social security payment
- Interest paid for a bank loan
- None of the above
Ans:- A social security payment