Categories
General Knowledge

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

Categories
General Knowledge

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

Categories
General Knowledge

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.

Categories
General Knowledge

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

Categories
General Knowledge

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

Categories
General Knowledge

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

Categories
General Knowledge

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

Categories
General Knowledge

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

Categories
General Knowledge

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

Categories
General Knowledge

The value of the vegetables a retired school teacher grows in his lawn is excluded from the calculation of national income because:

(a) Retired person’s activities are not included in
calculating national income
(b) The goods are not exchanged through the market
mechanism
(c) It would involve double counting
(d) There is no way of imputing the value of such goods