General Knowledge MCQs [Quiz 54]

Q1. Which of the following activity will be considered as investment?
(a) Construction of a new house
(b) Purchasing a newly floated share of a joint stock company
(c) Building a new factory
(d) All the above

Q2. Real national income increases if
(a) Volume of goods and services increases
(b) Prices of goods and services increase
(c) Consumer’s real income decrease
(d) None of the above one

Q3. Identity the false statement among the followings.
(a) If prices rise, real income also rises
(b) In calculating national income, retirement pension are excluded
(c) Stock of goods not sold by the producer, is excluded from GNP
(d) None of the above one

Q4. Per capita income is:
(a) Average income of the working class
(b) Average income of the people of a country during a year
(c) Average income of labourers only
(d) None of the above one

Q5. Which of the following is a real cause for low per capita income of Pakistan?
(a) There is lack of Natural resources
(b) These is over-population
(c) Unfavourable climatic conditions
(d) All of the above

Q6. Economic development means:
(a) Increase in agricultural production of a country
(b) Increase in mineral resources of the country
(c) Increase in real national income and standard of the living of the people of country
(d) Increase in consumption expenditure of the country

Q7. Which of the following statement is false?
(a) Economic development is a process whereby an economy real national income increases over a long period of time
(b) Economic development is measured by the rate of population increases
(c) As a result of economic development of a country, the share of industrial sector in the national income increases
(d) Per capita income is a better measure of economic development than the national income.

Q8. Which of the changes below is most likely to lead directly to an increase in the income growth rate?
(a) An increase in wages
(b) An increase in interest rates
(c) An increase in the balance of payments deficit
(d) An increase in capital investment

Q9. Economic planning means:
(a) Planning family size by limiting the number of children
(b) Making decisions as to what is to be produced, how when and where it is to be produced and to whom it is to be allocated on the basis of comprehensive survey of the economic system as a whole
(c) Planning to increase agricultural and industrial production
(d) None of the above

Q10. How much of GDP is spent on Agricultural Research in Pakistan?
(a) 0.02 percent
(b) 0.6 percent
(c) 1.5 percent
(d) 1.9 percent

Updated: 5th September 2019 — 10:03 PM

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