CUET Economics: MacroNational Income. Free, no login required.

Identify which of the following statements is incorrect with reference to an economy?

Identify the correct sequence with regard to externalities:

(A) Leads to negative externalities.

(B) Production by the refining industry pollutes nearby rivers.

(C) Causes harm to people.

(D) Dependent may loose their livelihood.

Choose the correct answer from the options given below:

The value of nominal GDP is $1100 and the value of real GDP is $1000. Find the value of GDP deflator.

Which of the following are correct statements regarding Gross Domestic Product (GDP)?

(A) GDP is a measure of the welfare of a country.

(B) Real GDP is measured at current market prices.

(C) Expenditure method estimate =Income Method estimate =Product Method estimate=GDP of a country.

(D) Gross National Product at factor cost = GDP$_{MP}$ + Net factor income from abroad.

Choose the correct answer from the options given below:

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

Which of the following constitutes as 'leakages' from the circular flow of income.

(A) Domestic Savings.

(B) Imports.

(C) Outward Foreign Direct Investment.

(D) Investment.

Choose the correct answer from the options given below:

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

Whatever is left over is appropriated by the entrepreneur is called ..................

1. Profit.
2. Interest.
3. Subsidies.
4. Capital.

Addition to the stock of physical capital and changes in the inventory of a producer is known as:

1. Asset Appreciation.
2. Consumption.
3. Stock.
4. Investment.

Which of the following approach measures economic activity by adding the aggregate value of final goods and services newly produced in a nation during a fixed period of time?

From the following find the statements related to GDP and the welfare of the economy

(A) The domestic services that women perform at home are considered in the calculation of GDP.

(B) Harmful effects caused due to carbon emissions from factory production are not counted as GDP.

(C) The rise in GDP may be concentrated in the hands of very few individuals or firms.

(D) Higher levels of GDP always ensure higher welfare.

Choose the correct answer from the options given below:

Which statement is not related to the inventory.

Match List-I with List-II

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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?

Consider the following statement

Net Investment = Rs. 5 Cr.

Gross Investment = Rs 7.73 Cr.

Find the value of Depreciation

Consider the following data:

Nominal GDP : 1900

Real GDP : 1300

What is the GDP deflator in the above conditions ?

The well-being and wealth of the economy may not resonate only with possession of resources. It should ....................

Which of the following includes replacement investment?

Which of the following makes GDP an inappropriate index of welfare?

(A) Distribution of GDP.

(B) Externalities.

(C) Non-monetary exchanges.

(D) Price Index.

Choose the correct answer from the options given below:

Which of the following transaction is not included in national income?

Match List-I with List-II

Choose the correct answer from the options given below:

Arrange the steps to calculate Net National Product at market Price by Income Method.

(A) Identify and add factor Income (Rent, wages, interest and profit).

(B) Add Net factor income from abroad.

(C) Add Net Indirect Taxes.

(D) Add mixed income of self-employed.

Choose the correct answer from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below:

Calculate the value of Real GDP for the year 2023

Expenditure on the purchase of capital goods refers to ___________.

Identify the flow variable from the following:

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: