AfterBoards Logo
Skip to main contentSkip to solution

CUET Economics 2025 PYQs14 May Shift 1. Free, no login required.

Macro

past year questions, CUET Economics 2025 14 May Shift 1

National Income

past year questions, Macro, CUET Economics 2025 14 May Shift 1

Easy

The domestic services performed by women at home are categorized as:

  1. Non-monetary exchanges
  2. Externalities
  3. Personal services
  4. Social services

Solution

✅ Correct Option: 1

Option 1 -> Domestic work involves economic activities without market transactions or monetary payment.

Option 2 -> Externalities are spillover effects on third parties, not household labor.

Option 3 -> Not the standard economic classification for unpaid household work.

Option 4 -> Social services typically refer to government/organizational welfare programs.

Hence, Option 1: Non-monetary exchanges -> Domestic services performed by women at home (such as cooking, cleaning, childcare, and household management) are classified as non-monetary exchanges because they involve productive economic activities that create value but do not involve market transactions or monetary compensation. These services, while not captured in GDP calculations, represent significant economic contributions to households and society. They are exchanges of labor and care within the household without financial payment, distinguishing them from market-based economic activities. -> correct

Related questions:

2022: 16 July Shift 2

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:

2025: 13 May Shift 2

Match List-I with List-II

List-IList-II
(A) Net National Product at Market Prices (NNP_MP)(I) GNP_MP - Net Product Taxes - Net Production Taxes
(B) Gross National Product at Market Prices (GNP_MP)(II) GDP at market prices
(C) Gross National Product at Factor Cost (GNP_FC)(III) GNP_MP - Depreciation
(D) GVA at Market Prices(IV) GDP_MP + NFIA

Choose the correct answer from the options given below:

2025: 21 May Shift 1

Which of the following are true about national income and related aggregates?

(A) National income includes factor income earned from abroad but does not include factor income paid abroad.

(B) Domestic income does not include factor income earned from abroad but includes factor income paid to abroad

(C) Domestic income include both factor income earned from abroad and factor income paid to abroad

(D) National income can never be smaller than domestic Income.

Choose the correct answer from the options given below:

2022: 30 Aug Shift 2

Which of the following formula is correct ?

2026: 23 May Shift 1

Which of the following activity is a limitation to GDP as an indicator of welfare?

2023: 20 June Shift 1

Calculate operating surplus from the following.

(Rs in Cr)
aRent & Interest50
bBonus80
cProfit After Tax30
dTax rate40%

Choose the correct option.

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Economics Past Year Questions (Topic-Wise)