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Assignment-1: National Income

Authored by Rosy Sulochana

Other

12th Grade

Used 1+ times

Assignment-1: National Income
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15 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is a method to measure the National Income?

  1. Expenditure method

  1. Income method

  1. Product method

  1. All of the above

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is the definition of a closed economy?

where the money supply is totally controlled by the government

where deficit financing takes place

where there are no exports to other countries

where there are no investment is made

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is included in the National Income of a country?

  1. Rent

  1. Interest

  1. Wages

  1. Rent, Interest, Wages, Salary, Profits

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The difference between gross and net is:

Subsidies

Depreciation

NFIA

Net Indirect Tax

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Product means:

Intermediate goods

Transfer payments

Final goods and services

Both (a) and (b)

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Market price is the:

Market value

Money value

Transfer value

None of the above

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In closed economy, which of the following Sectors is not included?

Household

Local Firms

Local Government

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