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61.

GNP is always:

A.	Less than NNP	B.	Greater than NNP
C.	Equal to NNP	D.	Greater in many years but less in others

62.

The four factor payments are:

A.	Money, capital, salaries, and income	B.	Wages, rent, interest and profits
C.	Money, power, prices and wealth	D.	Wages, interest, salaries and income

63.

Macroeconomics is concerned with:

A.	Aggregate economic activity	B.	Spending decisions of households
C.	How to produce goods	D.	How to but stocks and bonds

64.

Which of the following is not macroeconomics:

A.	Inflation	B.	Unemployment
C.	The level of output in the economy	D.	Level of wages in garment industry

65.

A closed economy is best described as one in which:

A.	There are no monopolies	B.	No corporations
C.	No externalities	D.	No international trade

66.

In economics, one or more persons living in a joint family are called a:

A.	Business firm	B.	Social gathering
C.	Super family	D.	Household

67.

The largest type of income in the Pakistan is:

A.	Compensation f employees	B.	Proprietors income
C.	Rental income	D.	Corporate profits

68.

An open economy:

A.	Must be a democracy	B.	Is one without taxes
C.	Is that interacts with other economies	D.	Means world economy

69.

Which of the following is transfer payment:

A.	Paument of college tuition fee	B.	Payment for social security
C.	Payment of interest	D.	Payment for a leased car

70.

Which of the following is counted in GDP:

A.	Sale of used car	B.	Purchase of shares of PSO (company)
C.	A TV set produced this year but not sold	D.	The leisure enjoyed by people