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
An example of non durable goods is
  • A
    TV
  • B
    Fan
  • C
    Microwave
  • D
    Milk
    Correct
2
An example of semi durable goods is
  • A
    Fan
  • B
    TV
  • C
    Milk
  • D
    Crockery
    Correct
3
An example of capital goods is
  • A
    TV
  • B
    Fan
  • C
    Plant
    Correct
  • D
    Microwave
4
Final goods are those goods
  • A
    Which are used for investment
  • B
    Which are used either for final consumption or for investment
    Correct
  • C
    which are used for final production
  • D
    Which are used for final consumption
5
In intermediate goods
  • A
    Value is yet to be added
    Correct
  • B
    Value cannot be added anymore
  • C
    Values are already added
  • D
    Value should not be added
6
In final goods
  • A
    Value is added
    Correct
  • B
    Value should not be added
  • C
    Values is not added
  • D
    Value cannot be added anymore
7
In a two sector circular flow model the two sectors are
  • A
    Government and household
  • B
    Government and financial system
  • C
    Firm and household
    Correct
  • D
    Firm and government
8
In a three sector circular flow model the three sectors are
  • A
    Government and financial system & firm
  • B
    Government and household & financial system
  • C
    Firm and government & abroad
  • D
    Firm and household & government
    Correct
9
When will the domestic income be greater than the national income?
  • A
    IF Net factor income earned from abroad is 1
  • B
    IF is negative
    Correct
  • C
    IF Net factor income earned from abroad is zero
  • D
    IF Net factor income earned from abroad is positive
10
What must be added to domestic factor income to obtain national income?
  • A
    Net factor retained earnings from abroad
  • B
    Net taxes earned from abroad
  • C
    Net factor income earned from abroad
    Correct
  • D
    Net factor interest earned from abroad
11
State which one of the following is true .
  • A
    Royalty is not a factor income
  • B
    Tax is a factor income
  • C
    Rent is a factor income
    Correct
  • D
    Subsidies is a factor payment
12
Can the gross domestic product be greater than the gross national product?
  • A
    Never
  • B
    No
  • C
    Yes
    Correct
  • D
    Can’t say
13
Can the change in inventories be in negative?
  • A
    No
  • B
    Can’t say
  • C
    Yes
    Correct
  • D
    Never
14
Can the net indirect taxes be negative?
  • A
    Can’t say
  • B
    No
  • C
    Never
  • D
    Yes
    Correct
15
Can the net factor income earned from abroad be negative?
  • A
    No
  • B
    Never
  • C
    Yes
    Correct
  • D
    Can’t say