Economics - National Income And The Standard Of Living
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This is the MCQs of Economics
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Question 1 of 24
1. Question
Gross National Product equals:
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Question 2 of 24
2. Question
Net National Product equals:
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Question 3 of 24
3. Question
The standard of living is often measured by:
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Question 4 of 24
4. Question
In a recession:
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Question 5 of 24
5. Question
In a boom:
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Question 6 of 24
6. Question
GDP plus net property income from abroad equals what?
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Question 7 of 24
7. Question
To adjust GDP from market prices to factor cost:
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Question 8 of 24
8. Question
To adjust from Gross National Product to Net National Product:
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Question 9 of 24
9. Question
In a recession a government:
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Question 10 of 24
10. Question
A higher GDP per capita may not means that the quality of life has really improved because:
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Question 11 of 24
11. Question
An example of a transfer payment is:
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Question 12 of 24
12. Question
The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
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Question 13 of 24
13. Question
Which of the following would be excluded from UK GDP fro 2005? The sale of
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Question 14 of 24
14. Question
Gross Domestic Product can be measured as the sum of:
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Question 15 of 24
15. Question
Pakistan’s Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
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Question 16 of 24
16. Question
Gross Domestic Product is the sum of the market value of the
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Question 17 of 24
17. Question
If nominal GDP in 2005 exceeds nominal GDP in 2004, then the production of output
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Question 18 of 24
18. Question
If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is
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Question 19 of 24
19. Question
GDP would include which of the following?
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Question 20 of 24
20. Question
Real GDP is measured in ____ prices while nominal GDP is measured in ____ prices.
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Question 21 of 24
21. Question
If Pakistan’s GDP exceeds Pakistan’s GNP, then:
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Question 22 of 24
22. Question
UK GDP would exclude which of the following?
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Question 23 of 24
23. Question
How is your purchase in Pakistan of a Rs40,000 BMW automobile that was produced entirely in Germany recorded in the Pakistan’s GDP accounts?
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Question 24 of 24
24. Question
If your grandparents buy a newly built retirement home, this transaction would affect:
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