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WorksheetsGr 12 Macro Economics : NI Accounting
Total questions: 20
Worksheet time: 14mins
Study the features and Identify the goods.
i . Value is still to be added to these goods by way of further processing or resale.
ii.Value is still to be added to these goods by way of further processing or resale.
Final consumer goods.
Final producer goods
Intermediate good
durable consumer good
what is investment?
This decrease in value of fixed assets
Quantity measured over a specified period of time.
quantity measured over at a particular point of time.
Addition to its production capacity in terms of its additional acquisition of produced means of production during an accounting year
what is Stock?
Total Supply of capital goods.
Addition to the stock of unsold goods or of raw material
Quantity of a variable measured at a particular point of time
Quantity of a variable measured over a specified period of time.
---------- is a flow.
Water in a reservoir
Quantity of money supply
Income per year
Deposits with a bank
What is Leakage?
Variable which increases stock of fixed assets of the producers during the period of an accounting year.
Capacity in terms of additional acquisition of produced means of production during an accounting year.
Variables which cause a contraction in the process of production
Variables which cause an expansion in the process of production.
Gross National Product (GNPmp) is-----------
Value of all final goods and services produced within the domestic territory of a country during a period of one year.
Value of the final products and services manufactured by a country’s residents, regardless of the production location.
Sum total of factor income generated within the domestic territory of a country during a period of one year
None of the above.
GNPFC = GNPMP --
NFIA
Net Indirect tax
Depreciation
Indirect Tax
GDP mp -- _______ = NDPmp........i
NDPmp -- ________ =NDPfc ............ii
NDPfc + _________ = NNPfc ...........iii
i NFIA ii Net Indirect tax iii depreciation
i Depreciation ii NFIA iii Net Indirect tax
i depreciation, ii Net Indirect tax iii NFIA
i Net Indirect tax ii depreciation iii NFIA
What is Nominal GDP?
GDP which is computed at constant prices/ base year price
GDP which is calculated by using the current year price.
It is a real indicator of economic growth.
option 1 and 3
GDP Price Deflator =
Nominal GDPReal GDPX 100
Nominal GDPchange in real GDP X 100
Real GDPchange in nominal GDP X100
Calculate Real GDP of the year 2017.( base year is 2015)
RS 835,000
Rs 530,000
Rs 1,290,000
Rs 380,000
Calculate GDP deflator if Real GDP =200 and Nominal GDP = 250?
80
125
100
105
Will the following factor income be included in domestic factor income of India? give reason.
Profits earned by a branch of foreign bank in India
No. •As it is a foreign bank profit will not be included in the domestic factor income of India.
No. Profit of foreign bank will not be included in National Income
Yes. •As the foreign bank is situated within the domestic territory of India so it will be included in National income of India.
Yes. As the foreign bank is situated within the domestic territory of India so it will be included in the domestic factor income of India.
Will the following factor income be included in domestic factor income of India? Give reason
Remittances from non-resident Indians to their families in India
It is a transfer payment , so it is not included inn national income.
It is included in national income because it is a factor income.
It will not be included in the domestic factor income of India as it is earned outside the domestic territory of India
It will be included in the domestic factor income of India as it is the part of NFIA
Will the following be included in the national income of a country? Give reason.
•Salaries received by Indian residents working in Russian Embassy in India.
It is not included because it is a foreign embassy.
It is included in national income because it is factor income from abroad
It is included in national income because it is located in India
It is not included because it is domestic territory of Russia
Will the following be included in the national income of a country? Give reason.
Payment of interest on a loan taken by an employee from the employer.
It is not included because the loan is taken for consumption.
It is not included because the loan is transfer payment.
It is included because the loan is a part of SSI
It is included because it is a factor income
Will the following be included in the national income of a country? Give reason.
self- consumed output by a farmer .
It is included because it is imputed expenditure.
It is included because it is factor income
It is not included because it own property.
It is not included because it is not productive.
Giving reason, how the following is treated while estimating national income.
commission paid on sale of second-hand goods .
It is not included in NI because it is not productive.
It is included because it is reward for rendering productive services.
It is a windfall gain so it is excluded.
It is included because it is a transfer payment.
Calculate GVA mp
320
250
510
170
Find out sales.
Rs 5500 lakh
Rs 5000 lakh
Rs 5700 lakh
None of the above
