Economics Test 1
Total Questions: 34
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A ) To add up the values of goods and services during one year ✅
B ) Add up all savings
C ) To count all imorts
D ) To add up the values of semi-finished goods
A ) Less than NNP
B ) Greater than NNP ✅
C ) Equal to NNP
D ) Any of i,ii,iii
A ) Money, Capital, Salaries and income
B ) Wages,rent, interest and profits ✅
C ) Money,power,prestige and wealth
D ) Wages,interest, salaries and income
A ) Bank loans
B ) The payment without work ✅
C ) Tax payments
D ) Payments made to all factors of production
A ) National Expenditure=National income ✅
B ) National Expenditure=National income+National Production
C ) National Expenditure=National income+National Taxes
D ) National Expenditure=National income -Taxes
A ) GNP=GDP-net income from abroad
B ) GNP=GDP+net income from abroad ✅
C ) GNP=NNP-net income from abroad
D ) GNP=NNP+net income from abroad
A ) Intermediate goods
B ) Capital goods
C ) Surplus goods
D ) Final goods ✅
A ) Total sales in the economy
B ) Total monetary transactions in an economy
C ) The market value of all goods and services produced in an economy ✅
D ) Total spending in an economy
A ) A loan from a bank
B ) A loan from one's parents
C ) Gifts and donations
D ) A broker's commission ✅
A ) Gross Investment minus household Investment
B ) Gross Investment minus govt. Investment
C ) Gross Investment minus capital consumption allowance ✅
D ) None of these
A ) NI
B ) NNP
C ) GNP ✅
D ) Consumption
A ) Household's purchases of food
B ) Household's purchases of a car
C ) Household's payment of rent for an apartment
D ) Household's purchase of stock in any XYZ corporation ✅
A ) Increase in taxation
B ) Increase in savings
C ) Increase in govt spending ✅
D ) Decrease in consumption spending
A ) Investment
B ) Subsidies
C ) Taxation ✅
D ) Consumption
A ) 5%
B ) 14.4% ✅
C ) 25%
D ) 35%
A ) 3rd
B ) 4th
C ) 6th ✅
D ) 8th
A ) 1%
B ) 1.73% ✅
C ) 1.9%
D ) 4%
A ) 320
B ) 1046 ✅
C ) 950
D ) 1520
A ) An increase in indirect taxes
B ) An increase in manager's salaries
C ) An increase in progressive taxation ✅
D ) An increase in the rate of inflation
A ) 20%
B ) 30% ✅
C ) 40%
D ) 50%
A ) 194
B ) 1950
C ) 1955 ✅
D ) 1960
A ) 20%
B ) 24% ✅
C ) 28%
D ) 26%
A ) 28%
B ) 18% ✅
C ) 8%
D ) Undetermined
A ) 700 billion
B ) 1700 billion ✅
C ) 2700 billion
D ) 3700 billion
A ) 25% ✅
B ) 35%
C ) 45%
D ) 55%
A ) Is the same as economic growth
B ) Means improvement in lifestyle ✅
C ) Exists when there is equal distributed of income
D ) All tof these
A ) Increase in nominal GNP
B ) Increase in real GNP ✅
C ) Increase in personal incomes
D ) Increas in government revenue
A ) Increasing demand for goods
B ) Increasing supply of goods ✅
C ) Increasing money supply
D ) Decreasing taxes
A ) Availability of gold in the country
B ) Availability of dollars in the country
C ) Demand of money in the country ✅
D ) Tax collection
A ) The number of times a unit of money changes hands daily
B ) The number of times a unit of money changes hands monthly
C ) The number of times a unit of money changes hands annually ✅
D ) The number of times a unit of money changes value
A ) 0.25
B ) 4 ✅
C ) 0.4
D ) 4 Billion rupees
A ) Remains constant
B ) Double
C ) Half ✅
D ) None of these
A ) Those living one pension
B ) Those living on their savings
C ) Those who are repaying borrowed money ✅
D ) Those who have lent money
A ) Increases by 100%
B ) Decreases by 100% ✅
C ) Decreases by 200%
D ) Does not change