The standard of living in a country is represented by its ?
A. National income
B. Per capita income
C. Poverty ratio
D. None of these
Transfer payments means ?
A. Bank loans
B. The payment without work
C. Tax payments
D. Payments made to all factors of production
We measure national income by this method ?
A. Expenditure method
B. Income method
C. Product method
D. All of the above
Which of the following is a withdraw from the circular flow income stream ?
A. Investment
B. Subsidies
C. Taxation
D. Consumption
Economic development ?
A. Is the same as economic growth
B. Means improvement in lifestyle
C. Exists when there is equal distribution of income
D. All of the above
Gross National income is always more than Net National income because it includes ?
A. Foreign income
B. Capital consumption allowance
C. Indirect taxes
D. Direct taxes
According to the law of demand. When ?
A. Price increase demand decreases
B. Price decreases demand decreases
C. Price increased demand increases
D. None of these
When the stock market is rising it is ?
A. Bearish
B. Bullish
C. Hottest
D. Rising up
Economic development is measured on the basis of ?
A. Increase in nominal GNP
B. Increase in real GNP
C. Increase in personal income
D. Increase in government revenue
Pakistan’s fiscal years starts from?
A. 1st September
B. 1st January
C. 1st April
D. 1st July
