12th ECONOMICS Online Chapter-2 (2023-2024)

____ provides a comprehensive measure of the economic activities of a nation.

• a) money income

• b) real income

• c)national income

• d) fiscal income

Nobel laureate __________ first introduced the concept of national income

• a) Paul Samuelson

• b) Simon Kuznets

• c) William Johnson

• d) J.M. Keynes

Net Domestic Product = ___________ - Depreciation.

• a) GNP

• b) GDP

• c) NNP

• d)Personal Income

_________ is the creator of GDP.

• a) William Donald

• b) Robert Marker

• c) Alfred Marshall

• d)Simon Kuznets

_______ is the individuals income after the payments of income tax.

• a) National income

• b) Disposable income

• c) Per capita income

• d) Real income

The total of income payment made to factors of production is called ____.

• a) NNP at marginal cost

• b) NNP at factor cost

• c) GNP at Marginal cost

• d) GNP at factor cost

The average income of a person of a country in a particular year is called ____.

• a) disposable income

• b) real income

• c) personal income

• d) per capita income

________ is the buying power of nominal income.

• a) National income

• b) Percapita income

• c) Nominal income

• d) Real income

Match the Following:

1. GDP – (a) GDP – Depreciation

2. NDP - (b) GNP - Depreciation

3. GNP - (c) C+I+G+ (X-M)

4. NNP - (d) C+I+G+(X-M) + (R-P)

• (1) –c (2) – a (3) – d (4) - b

• (1) –a (2) – a (3) – b (4) - d

• (1) –c (2) – c (3) – d (4) - b

• (1) –a (2) – b (3) – d (4) - b

State whether the statement are true or false.

(i) NNP = GNP – Depreciation allowance

(ii) Depreciation is also called as Capital Consumption Allowance

• a) Both (i) and (ii) are true

• b) Both (i) and (ii) are false

• c) (i) is true but (ii) is false

• d) (i) is false but (ii) is true