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
water in a stream is a
  • A
    Non economic concept
  • B
    Flow concept
    Correct
  • C
    Stock concept
  • D
    Hypothetical concept
2
Investment in macroeconomics is
  • A
    Addition to the stock of capital
    Correct
  • B
    Updating the stock of capital
  • C
    Reduction in the stock of capital
  • D
    Division of the stock of capital
3
Which of the following will you include while estimating domestic product of India?
  • A
    Profits earned by branch of American bank in India.
    Correct
  • B
    Rent received by resident Indian from his property in Singapore.
  • C
    Salaries paid to Koreans working in the Indian embassy in Korea
  • D
    Salaries of Indians working in Japanese Embassy in India
4
Which of the following will you include while estimating national income by expenditure method?
  • A
    Net indirect taxes
  • B
    Purchase of new car by a household
    Correct
  • C
    Change in stocks
  • D
    Purchase of raw materials by a producer
5
Which of the following will you include while estimating national income by income method?
  • A
    Purchase of raw materials by a producer
  • B
    Royalty
    Correct
  • C
    Change in stocks
  • D
    Net indirect taxes
6
Which one of the following items is not included in the estimating a country‘s national income
  • A
    Growing vegetable in a kitchen garden of the house
  • B
    Old age pension
    Correct
  • C
    Free cloth given to workers
  • D
    Commission paid to dealer in old car
7
Which of the following are not included while estimating domestic product of India?
  • A
    Retirement pensions
  • B
    Rent
  • C
    Wages
  • D
    Old age pension
    Correct
8
Which of the following are not included while estimating domestic product of India
  • A
    Financial help received by flood victims
  • B
    Interest received on debentures
  • C
    Capital gains
    Correct
  • D
    Imputed rent of self occupied houses.
9
NNP Mp = GNP mp - depreciation
  • A
    FALSE
  • B
    Can’t say
  • C
    Never
  • D
    1
    Correct
10
NDP Mp = GDPmp - depreciation
  • A
    1
    Correct
  • B
    FALSE
  • C
    Can’t say
  • D
    Never
11
NDP Fc = NDP mp – Net indirect taxes (indirect tax – subsidies)
  • A
    Can’t say
  • B
    Never
  • C
    FALSE
  • D
    1
    Correct
12
GDP Fc = NDP fc + depreciation
  • A
    FALSE
  • B
    Never
  • C
    Can’t say
  • D
    1
    Correct
13
NNP Fc = GDP mp - depreciation + Net factor income from abroad – Net indirect taxes
  • A
    FALSE
  • B
    1
    Correct
  • C
    Can’t say
  • D
    Never
14
NNP fc = NDP fc + Net factor income from abroad.
  • A
    1
    Correct
  • B
    Can’t say
  • C
    Never
  • D
    FALSE
15
Households give factors of production to firm and firms in turn supply goods and services to Households. Is it true in a two sector model?
  • A
    FALSE
  • B
    Can’t say
  • C
    1
    Correct
  • D
    Never