National Income Accounting CBSE Questions & Answers

National Income Accounting

This is Economics Class 12 National Income Accounting CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Explain the meaning of non-market activities
  • A
    Economic
  • B
    Non marketable
    Correct
  • C
    Involuntary
  • D
    Production
2
Nominal GNP is same as
  • A
    GNP less Net factor income from abroad
  • B
    GNP at current prices
    Correct
  • C
    Real GNP
  • D
    GNP at constant prices
3
Real GNP is same as
  • A
    Nominal GNP
  • B
    GNP at current prices
  • C
    GNP at constant prices
    Correct
  • D
    GNP less Net factor income from abroad
4
Real flow is the flow of
  • A
    Goods only
  • B
    Money
  • C
    Goods and services
    Correct
  • D
    Services only
5
Money flow is the flow of
  • A
    Goods and services only
  • B
    Goods only
  • C
    Services only
  • D
    Factor payments
    Correct
6
State which one of the following is true.
  • A
    Gross domestic capital formation is always greater than gross fixed capital formation.
  • B
    Capital formation is a flow
    Correct
  • C
    Bread is always a consumer good.
  • D
    Nominal GDP can never be less that real GDP
7
Which of the following in an example of macro economics
  • A
    Producer’s equilibrium
  • B
    Price determination
  • C
    Consumer’s equilibrium
  • D
    Inflation
    Correct
8
Microeconomics is different from macroeconomic s as
  • A
    Microeconomics deals with prices only
  • B
    Microeconomics deals with government’s decisions
  • C
    Microeconomics deals with individual behaviour
    Correct
  • D
    Microeconomics deals with economic behaviour
9
Intermediate goods are those
  • A
    Which are for resale
    Correct
  • B
    Which capital can buy
  • C
    Which are sold
  • D
    Which are for long term use
10
Final goods are those
  • A
    Which are for long term use
  • B
    Which capital can buy
  • C
    Which are for resale
  • D
    Which are for final consumption
    Correct
11
An example of transfer payments is
  • A
    Retirement pension
  • B
    Employers’ contribution for social security
  • C
    Old age pension
    Correct
  • D
    Free meals in the company canteen
12
An example of factor payments is
  • A
    Employees’ contribution for social security
  • B
    Employers’ contribution for social security
    Correct
  • C
    Old age pension
  • D
    Retirement pension
13
Consumption goods are those which are bought to satisfy wants
  • A
    By producers only
  • B
    By investors only
  • C
    By banks only
  • D
    By consumers
    Correct
14
An example of consumption goods is
  • A
    machine
  • B
    plant
  • C
    Fruits
    Correct
  • D
    Coal
15
An example of durable goods is
  • A
    Pepsi
  • B
    Fan
    Correct
  • C
    Milk
  • D
    Coal