WorksheetsEco I National Income
Total questions: 19
Worksheet time: 6mins
Stock variable is defined as a variable which is :
Measured over a period of time
Measured at a particular point of time
Cannot be measured
None of these
Net Domestic Product at factor cost is called:
Domestic Income
National Income
Private Income
Personal Income
In which case Net Indirect taxes be equal to zero:
Indirect taxes < subsidies
Indirect taxes > subsidies
Indirect taxes = subsidies
None of the above
GNP at MP = ______
GDPMP – Depreciation
GDPMP + Depreciation
GDPMP ÷ Depreciation
GDPMP + Net factor income from abroad
Which one of the following is included in circular flow?
Real Flow
Money Flow
Both (a) and (b)
None of these
In what kind of Economy is GNP = GDP ?
Mixed Economy
closed Economy
Open economy
Capitalist Economy
Which one is true?
GNP = GDP + Depreciation
NNP = GNP + Depreciation
NNP = GNP – Depreciation
GNP = NNP – Depreciation
Which of the following transactions will be included in National Income?
Payment of fees to a lawyer engaged by a firm
Purchase by foreign tourists
Rent free house to an employee by an employer.
Wheat grown by a farmer,but used entirely for family’s consumption
(a) is an economic variable that is measured over a specific period of time. It is a dynamic concept.
(a) are the economic assistance given by the government for the general welfare.
Choose the correct option:
Income from gifts is included in the national income.
True
False
The difference between value of output and value added is:
Depreciation
Intermediate consumption
Net indirect taxes
NFIA
National Income differs from Net National Product at market price by the amount of:
Current transfers from rest of the world
Net Indirect Taxes
National debt interest
it does not differ
Which statement is correct for nominal GDP?
i. Nominal GDP is calculated based on current prices.
ii. Nominal GDP is calculated based on the base prices.
iii. Data on Nominal GDP shows an accurate picture of the economy as compared to real GDP.
Only ii, iii
only ii
only i
i, iii
The value of which work is added in the calculation of GDP?
Housewives' works
A teacher teaching his own child
The value of resale of old shares
Construction of new house by an artisan
Which one is included in the calculation of National Income?
New Final Goods and Services
Earned Income of Indian Companies in Abroad
Expenses made by Foreign Tourists in the country
All the above
Investment refers to addition to the (a) of an economy. For example purchase of machinery, construction of the metro.
