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CUET Economics 2022 PYQs16 July Shift 2. Free, no login required.

Macro

past year questions, CUET Economics 2022 16 July Shift 2

National Income

past year questions, Macro, CUET Economics 2022 16 July Shift 2

Hard

Identify the correct statements from the following:

A. Fees to a mechanic paid by a firm is not included in the estimation of national income

B. Income tax paid by an individual is not included in national income

C. Interest paid by a garment manufacture on a loan taken from bank is included in national income

D. Payment of old age pension will not be included in national income as it is a transfer payment

E. Insurance premium paid by household to an insurance company is not included in the estimation of national income

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 2

A: Fees to a mechanic paid by a firm is intermediate consumption, not added separately. B: Income tax is a transfer, not included. C: Interest on production loan is factor income, included. D: Old age pension is a transfer, not included. E: Household insurance premium is final consumption, so IS included. Hence A, B, C, D are correct.

Related questions:

2025: 30 May Shift 2

Consider the following statement related to Aggregate Income

(A) Aggregate revenue received by the firms is paid out to the factors of production it is considered as aggregate income.

(B) Aggregate Income can be calculated by calculating the aggregate value of goods and services produced by the firms.

(C) Income is being spent on the goods and services produced by the firms. It takes the form of aggregate expenditure received by firms.

(D) Aggregate Income can not only be calculated through aggregate expenditure. There are other methods that exist.

Which of the following combination of statements best explains the concept of Aggregate Income?

2023: 20 June Shift 1

Final goods are those goods.

2026: 6 June Shift 1

The benefits (or harms) a firm or an individual causes to another for which they are not paid (or penalised). What it is called?

2025: 28 May Shift 1

Consider the following statement related to investment:

(A) The common notion is that investment is using money to buy physical or financial assets.

(B) From an economist's view, investment is capital formation.

(C) While measuring the final output, the portion which comprises capital goods, is the Gross Investment of an Economy.

(D) The common and economic view regarding investment does not make any difference. It is the same.

Choose the correct answer from the options given below:

  1. (A), (B) and (C) only
  2. (A), (B) and (D) only
  3. (A), (B), (C) and (D)
  4. (B), (C) and (D) only

2025: 21 May Shift 1

What is required to be added to Net National Product at market prices to obtain National Disposable Income?

2026: 13 May Shift 1

Match List-I with List-II

List-IList-II
(A) Net National Product at market price (NNP_MP)(I) C+I+G+X-M
(B) Gross Domestic Product at market price (GDP_MP)(II) GDP_MP +NFIA
(C) Gross Domestic Product (GDP_FC)(III) GNP_MP - Depreciation
(D) Gross National Product (GNP_MP)(IV) GDP_MP - NIT

Choose the correct answer from the options given below:

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