11th Principles of Economics MCQS Chapter 9

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11th Principles of Economics MCQS
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Expenses of wears and tears of machinery are called
Non productive expenses
Productive expenses
Depreciation expenses

Period in national income counting is
Four years
One year
Three years
Two years

Concept of equilibrium level of national income in comprehensive way was presented by
Professor hicks
Professor Lipsay
Professor keynes
Professor Marshall

What remains after the deduction of direct tax from the personal income

Gross national product means
Total of monetary value of goods and services produced during a year in the economy
Total of price of all goods produced in a country in year
Total of goods and services produced in the economy during a year
Total of price of all consumer goods produced in the economy during a year

One of the following is not included in net national product
Capital formation
Consumer goods and capital goods
Consumer goods
Capital goods

Quantity of goods and services which is consumed during a year is called national income. This definition of national income is stated by the economist
Adam smith

Individual income means
Total of incomes of entrepreneurs of the country
Income of a particular person
Income of a family
Total of incomes received from any means by the people

Which thing of the following should be subtracted from gross national product to get net national product
Income received from foreign country
Depreciation allowance
Indirect taxes
Direct taxes

If we subtract direct taxes from personal income, we get
Personal savings
Net national income
Disposable personal income
Net domestic income

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