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WorksheetsCHAPTER 2:NATIONAL INCOME ACCOUNTING
Total questions: 10
Worksheet time: 5mins
1.How many approaches in calculating national income?
4
3
2
1
2.When will GDP at market price be equal to GDP at factor cost ?
Indirect taxes=subsidy
indirect taxes >subsidy
indirect taxes < subsidy
none of these
3.Which one of the following is NOT included in National Income?
Old age pension
salary
wages
bonus
4. The national income is
a. NNP at factor cost
b. NNP at market price
c. GNP at market price
d. GNP at factor cost
5.The value of the output of all goods and services produced within a country in a year.
total output
Gross Domestic Product
national income
net domestic product
6.When a nation's exports exceed its imports and is calculated as exports - imports
trade surplus
trade deficit
inventory
gross domestic product
7.When a nation's imports exceed its exports and is calculated as imports -exports
inventory
gross domestic product
trade surplus
trade deficit
8.Which of the following is a final expenditure ?
Car purchased by a dealer
Vegetables purchased by a restaurant
Milk purchased by a tea-maker
Car purchased by a household
9.Which is an example of a final good or service
Coffee Beans at Starbucks
T-Shirt at Polo Store
Lumber at furniture store
Wheat at a bakery
10.What is depreciation?
Capital loss
Fixed capital loss
Consumption of fixed capital
None
