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

Identify which of the following is not included while estimating national income?

Match List-I with List-II

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It may be incorrect to treat GDP as an index of the welfare of the country for the following reasons.

(A) Externalities.

(B) Distribution of GDP is not uniform.

(C) Monetary exchanges.

(D) Non-monetary exchanges.

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Identify which of the following statements is true about the final goods?

From the following, which will be included in the National Income?

Which of the following is a stock variable?

Which of the following goods undergo wear and tear, thus gradually replaced over time?

If in an economy value of Net factor Income from Abroad is 200 cores and the Factor Income to Abroad is 40 crores. Identify the value of Factor Income from Abroad.

Arrange the statements in sequence of GDP composition on the expenditure side as per the annual report, Reserve Bank of India.

(A) Gross Domestic Investment.

(B) Private Final Consumption Expenditure.

(C) Government Final Consumption Expenditure.

(D) Net Exports.

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A firm produces Rs 1000 worth of goods per year. Rs 200 is the value of intermediate goods used by it during the year and Rs 100 is the value of capital consumption. What is the net value of total production?

The current transfers from the rest of the world such as gifts, aids, etc. are included in ________.

A country in the year 2000 produced 100 units of bread at price of Rs 10 per bread. GDP at current price was Rs 1,000. In 2001 the same country produced 110 units of bread at price Rs 15 per bread. What is the GDP deflator?

Match List-I with List-II

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Which government body is responsible for reporting GDP in India ?

1. Department of Revenue
2. Central Board of Direct Taxes
3. Central Statistics Office
4. Niti Ayog

Personal Disposable Income is?

1. The part of Aggregate Income which belongs to the household.
2. The part of Aggregate Income which belongs to the Government.
3. The part of Aggregate Income which belongs to the firm.
4. The part of Aggregate Income which belongs to the rest of the world.

Match List-I with List-II

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1. (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
2. (A) - (II), (B) - (IV), (C) - (III), (D) - (I)
3. (A) - (I), (B) - (IV), (C) - (III), (D) - (II)
4. (A) - (IV), (B) - (I), (C) - (III), (D) - (II)

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

The basis of the difference in income and product method of National Income Accounting is best deciphered by which of the following?

1. Product method measures the aggregate value of final goods and services produced by all the firms.
2. Income method measures the sum total of consumption expenditure.
3. Product method refers to the final consumption expenditure on the goods and services produced by the firm.
4. Income method refers to the fixed cost of the goods and services produced by the firm.

Which of the following is correct regarding National Income Accounting ?

1. In order to compare the GDP figures of the same countries at different points of time, nominal GDP is used.
2. In order to compare the GDP figures of different countries, real GDP is used.
3. Flows are defined at a particular point of time.
4. Stocks are defined over a period of time.

This is the index of prices of a given basket of commodities which are bought by the representative customer. Two years under consideration are kept – one is the base year, the other is the current year. First, the cost of purchase of a given basket of commodities in the base year is calculated. Then the cost of purchase of the same basket in the current year is calculated. Then we express the latter as a percentage of the former.

This index is called :

1. Customer Index Pricing
2. Consumer Index Pricing
3. Consumer Price Index
4. Customer Price Index

Gross Domestic Product at Market Price is the?

1. Gross Domestic Product at market price less net product taxes.
2. Market value of all final goods and services produced within a domestic territory of a country measured in a given financial year.
3. Expenditure to maintain the current GDP level.
4. Income earned by factors in the form of interest, profit, wages within the domestic territory of a country.

Which statements are true in terms of basic national income aggregates:

(A) GNP at factor cost measures the value of output received by the factors of production belonging to a country in a year.

(B) GDP is the market value of all intermediate goods and final goods and services produced within a domestic territory of a country measured in a year.

(C) NDP at factor cost is the income earned by the factors in the form of wages, profits, rent, interest, etc., within the domestic territory of a country.

(D) GDP at factor cost is gross domestic product at market prices, less net product taxes.

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Match List-I with List-II

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An annual allowance for wear and tear of capital goods is defined as?

Match List-I with List-II

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Which of the following are included while calculating national income by expenditure method?

(A) Expenditure on single-use producer goods purchased by firms.

(B) Expenditure incurred by a private trust running an orphanage on the education of the children.

(C) Expenditure incurred by the government on building dams and bridges across the nation.

(D) Expenditure by foreigners on the final goods produced in the country.

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What is required to be subtracted from personal income in order to obtain personal disposable income?

The value of the nominal GNP of an economy was Rs 5000 crores in a particular year. The value of GNP of that country during the same year, evaluated at the prices of same base year, was Rs 6000 crores. What is the value of the GNP deflator of the year.

There are 2496 students in a school as on 1st April 2023. During the session, there were 186 new admissions whereas 43 students withdrew from the school. At the end of the session, there were 2539 students in the school, out of whom 1800 were boys and the rest were girls. In this case, which of the following figures represent a flow variable?

Which of the following statements is true?

(A) Gross domestic income is a subset of national income.

(B) Corporate profit tax is a factor in income earned by the government.

(C) The production of wheat by a farmer retained by himself for his self-consumption will be included in the national income of the country.

(D) All capital goods are producer goods, but all producer goods are not necessarily capital goods.

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