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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

Medium

Which of the following indicates the sum total of Net National Product at market prices and other current transfers from the rest of the world:

  1. Private Income.
  2. National Disposable Income.
  3. Gross Value Added.
  4. Transferred Income.

Solution

✅ Correct Option: 2

Option 1 -> Private Income refers to income received by the private sector (households and enterprises), not the sum of NNP and transfers.

Option 2 -> National Disposable Income is defined as NNP at market prices plus net current transfers from abroad, which matches the question.

Option 3 -> Gross Value Added measures production value minus intermediate consumption, not related to transfers.

Option 4 -> Transferred Income is not a standard national income accounting term.

Hence, National Disposable Income -> National Disposable Income (NDI) is calculated as Net National Product at Market Prices + Net Current Transfers from Rest of the World. It represents the total income available to a nation for final consumption and saving. Net current transfers include items like remittances, gifts, and grants received from abroad minus those sent abroad. This measure shows the actual income that residents of a country can dispose of, making it a comprehensive indicator of a nation's command over resources -> correct

Related questions:

2025: 29 May Shift 2

Arrange the following statements in the context of the calculation of Gross National Product at Market price.

(A) Add Net factor income from abroad.

(B) Calculate values of output.

(C) Determine sales for the country.

(D) Deduct intermediate consumption.

Choose the correct answer from the options given below:

2025: 16 May Shift 1

Suppose the GDP at market price of a country in a particular year was Rs 2,100 crores. Depreciation was Rs 50 crores. The value of Indirect taxes was Rs 250 crores, Subsidies was Rs 150 crores and National Income was Rs 1250 crores. Calculate the aggregate value of net factor income from abroad.

2025: 30 May Shift 1

Calculate the value of Real GDP for the year 2023

YearOutput(units)Market Price (in Rs)
202215010
202320020

2025: 31 May Shift 1

Calculate Net National Product at factor cost (NNPFC_{FC}).

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  3. Rs. 3140 crores
  4. Rs. 3500 crores

2024: 16 May

Identify the correct statement in the context of Circular Flow of Income in an economy

2026: 15 May Shift 1

The Central Statistics Office (CSO) of the Government of India has been reporting the GDP at factor cost and at market prices. In its revision in January, 2015 the CSO replaced GDP at factor cost with __________

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