CUET Economics - Macro - National Income | Free Questions - Page 8

Q1:

2025: 13 May Shift 1

Macro

>

National Income

Medium

Arrange the following steps of calculation of National income in sequence.

(A) Deduction of intermediate cost

(B) Estimation of value of output

(C) Add net factor income from abroad

(D) Deduction of depreciation and NIT

Choose the correct answer from the options given below:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (D), (A), (B)

Correct Answer

Option 3

Correct Answer

Explanation

Q2:

2025: 13 May Shift 1

Macro

>

National Income

Medium

Arrange the following steps of estimation of National Income by income method in the proper sequence.

(A) Identification and classification of producing firms.

(B) Estimation of NDPFC

(C) Estimation of NNPFC

(D) Classification of factor Income.

Choose the correct answer from the options given below:

(A), (B), (C), (D)

(A), (C), (B), (D)

(A), (D), (B), (C)

(A), (B), (D), (C)

Correct Answer

Option 3

Correct Answer

Explanation

Q3:

2025: 13 May Shift 1

Macro

>

National Income

Easy

When goods and services are evaluated at constant prices, the measured value is known as ........

Nominal GDP.

Inventory.

Inflation.

Real GDP.

Correct Answer

Option 4

Correct Answer

Explanation

Q4:

2025: 13 May Shift 1

Macro

>

National Income

Medium

Match List-I with List-II

List-I	List-II
(A) Gross Domestic Product at Market Price	(I) NDPMP - Net Product Taxes - Net Production Taxes
(B) Net Domestic Product at Factor Cost	(II) GVA at basic prices - Net Production Taxes
(C) GVA(Gross Value Added) at factor cost	(III) C+I+G+(X-M)
(D) Gross National Product at Factor Cost	(IV) GNPMP - Net Product Taxes - Net Production Taxes

Choose the correct answer from the options given below:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (III), (B) - (I), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 2

Correct Answer

Explanation

Q5:

2025: 13 May Shift 1

Macro

>

National Income

Easy

The index of prices of a given basket of commodities which are bought by the representative consumer is known as :

Consumer Price Index

Wholesale Price Index.

Capital Good Index.

Inflation.

Correct Answer

Option 1

Correct Answer

Explanation

Q6:

2025: 13 May Shift 1

Macro

>

National Income

Easy

To measure consumer price index (CPI) which of the following years are taken into consideration?

(A) Current Year.

(B) Preceeding Year.

(C) Base Year.

(D) Succeeding Year.

Choose the correct answer from the options given below:

(A), (B) and (D) only

(A) and (C) only

(A), (B) and (C) only

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation

Q7:

2024: 16 May

Macro

>

National Income

Easy

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

Household receives factor services from firms.

Household invests while firm saves.

Firms produce goods and services.

Household supplies factor services to Government.

Correct Answer

Option 3

Correct Answer

Explanation

Q8:

2024: 16 May

Macro

>

National Income

Easy

The value of Nominal GDP is USD 1100 and the value of Real GDP is USD 1000. Find the value of GDP deflator:

0.9

1.1

1

0.8

Correct Answer

Option 2

Correct Answer

Explanation

Q9:

2024: 16 May

Macro

>

National Income

Easy

(A) Stocks are defined over a period of time.

(B) Flows are defined over a period of time.

(C) Flows are defined at a particular point of time.

(D) Stocks are defined at a particular point of time.

(E) GVA at factor costs + Indirect Taxes – Subsidies = GVA at market prices

Identify the correct statement:

(A), (C) and (E) only

(B), (C) and (D) only

(B), (D) and (E) only

(C), (D) and (E) only

Correct Answer

Option 3

Correct Answer

Explanation

Q10:

2024: 16 May

Macro

>

National Income

Easy

Nominal Interest Rate =

Real Interest Rate $\times$ Inflation Rate

Real Interest Rate $-$ Inflation rate

Real Interest Rate $/$ Inflation rate

Real Interest Rate $+$ Inflation rate

Correct Answer

Option 4

Correct Answer

Explanation

Q11:

2023: 20 June Shift 1

Macro

>

National Income

Hard

Calculate operating surplus from the following.

		(Rs in Cr)
a	Rent & Interest	50
b	Bonus	80
c	Profit After Tax	30
d	Tax rate	40%

Choose the correct option.

Rs.110 Cr

Rs.130 Cr

Rs.80 Cr

Rs.100 Cr

Correct Answer

Option 4

Correct Answer

Explanation

Q12:

2023: 20 June Shift 1

Macro

>

National Income

Medium

Match List I with List II

LIST I	LIST II
A. Stocks	I. Expected constant loss in value of a capital
B. Flows	II. Unexpected destruction of capital
C. Depreciation	III. Have time dimension
D. Capital loss	IV. Do not have any time dimension

Choose the correct answer from the options given below:

A-I, B-II, C-III, D-IV

A-IV, B-III, C-I, D-II

A-III, B-IV, C-II, D-I

A-IV, B-III, C-II, D-I

Correct Answer

Option 2

Correct Answer

Explanation

Q13:

2023: 20 June Shift 1

Macro

>

National Income

Hard

Calculate the factor income from Abroad from the following.

		(Rs in core)
(a)	NNP at market price	550
(b)	Net Indirect taxes	30
(c)	NVA at factor cost	540
(d)	Factor income to Abroad	50

Rs.70 Crore

Rs.90 Crore

Rs.30 Crore

Rs.50 Crore

Correct Answer

Option 3

Correct Answer

Explanation

Q14:

2023: 20 June Shift 1

Macro

>

National Income

Medium

Identify the correct formula of calculating of domestic income by Expenditure Method.

$GDP_{MP} = PFCE + GFCE + NDCF - NE$

$GDP_{MP} = PFCE - GFCE + GDCF - NE$

$GDP_{MP} = PFCE + GFCE + GDCF + NE$

$GDP_{MP} = PFCE - GFCE - NDCF + NE$

Correct Answer

Option 3

Correct Answer

Explanation

Q15:

2023: 20 June Shift 1

Macro

>

National Income

Hard

Calculate compensation of employees from the following items:

Items	Rs in Crores
Profit after tax	20
Interest	45
$GDP_{MP}$	200
Goods and service tax	10
Depreciation	50
Rent	25
Corporate tax	5

Choose the correct option.

45 Cores

42 Cores

50 Cores

44 Cores

Correct Answer

Option 1

Correct Answer

Explanation

Q16:

2023: 20 June Shift 1

Macro

>

National Income

Easy

When at a particular price level, aggregate demand for final goods equals aggregate supply of final goods, the final goods or product in market reaches its equilibrium. Aggregate demand for final goods consist of ex-ante consumption, ex-ante investment, government spending etc. The rate of increase in ex-ante consumption due to a unit increase in income is called marginal propensity to consume.

Final goods are those goods.

Which are used in the process of production

Which are used as an intermediate good

Which are purchased for the purpose of reselling in the same year

Which are either used for consumption or for investment

Correct Answer

Option 4

Correct Answer

Explanation

Q17:

2023: 11 June Shift 3

Macro

>

National Income

Easy

Net Indirect tax refers to :

Indirect tax + subsidies

Indirect tax - subsidies

Indirect tax x subsidies

Indirect tax / subsidies

Correct Answer

Option 2

Correct Answer

Explanation

Q18:

2023: 11 June Shift 3

Macro

>

National Income

Easy

If we deduct depreciation from $GNP_{mp}$ the measure of aggregate income that we obtain is called :

$GDP_{mp}$

$NNP_{mp}$

$NDP_{mp}$

$NDP_{FC}$

Correct Answer

Option 2

Correct Answer

Explanation

Q19:

2023: 11 June Shift 3

Macro

>

National Income

Medium

Match List - I with List - II.

List - I | List - II

(A) Indirect Tax | (I) GDP of India

(B) Stock | (II) Corporate Tax

(C) Flow | (III) Goods and Service Tax

(D) Direct Tax | (IV) Natural Wealth of an Economy

Choose the correct answer from the options given below :

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

(A)-(II), (B)-(I), (C)-(IV), (D)-(III)

(A)-(II), (B)-(IV), (C)-(I), (D)-(III)

(A)-(III), (B)-(I), (C)-(IV), (D)-(II)

Correct Answer

Option 1

Correct Answer

Explanation

Q20:

2023: 11 June Shift 3

Macro

>

National Income

Hard

Which of the following is a part of Domestic product of India ?

(A) Gifts given by employer to his employees

(B) Profits earned by branches of country's bank in other countries

(C) Profits earned by foreign companies in India

(D) Purchase of goods by foreign tourists

Choose the correct answer from the options given below :

(A) and (B) Only

(B) and (C) Only

(C) Only

(C) and (D) Only

Correct Answer

Option 4

Correct Answer

Explanation

Q21:

2023: 11 June Shift 3

Macro

>

National Income

Easy

__________ refer to the benefits (or harms) a firm or an individual causes to another for which they are not paid (or penalised).

Consumer price index

Non monetary exchanges

Externalities

Distribution of GDP

Correct Answer

Option 3

Correct Answer

Explanation

Q22:

2023: 11 June Shift 3

Macro

>

National Income

Medium

From the following data calculate net domestic product at factor cost.

S.No.	Item	Rs. crore
(i)	Depreciation	20
(ii)	Gross National Products at factor cost	1000
(iii)	Net factor income from abroad	30
(iv)	Net indirect taxes	10

Rs. 1050 crores

Rs. 900 crores

Rs. 1020 crores

Rs. 950 crores

Correct Answer

Option 4

Correct Answer

Explanation

Q23:

2023: 1 June Shift 1

Macro

>

National Income

Hard

Which out of the following will be included in National Income ?

(A) Ramesh sold his car for Rs. 5,00,000 which he used for 2 years

(B) Interest paid on car loan taken by Mohan

(C) Interest on debentures

(D) Radha purchased goods worth Rs. 1000 to prepare cakes to be sold in an exhibition

(E) Profit earned by Reliance Industries from their branch in London

Choose the correct answer from the options given below :

(B), (C), (E) Only

(D), (C), (E) Only

(C) and (E) Only

(A), (B), (C), (E) Only

Correct Answer

Option 3

Correct Answer

Explanation

Q24:

2023: 1 June Shift 1

Macro

>

National Income

Medium

Arrange the following steps of calculating National Income by value added method in the proper sequence.

(A) Calculate Gross value of output

(B) Calculate Gross value added

(C) Calculate value of output in Primary, Secondary and Tertiary sector

(D) Calculate National Income

Choose the correct answer from the options given below :

(A), (B), (C), (D)

(B), (A), (C), (D)

(C), (A), (B), (D)

(C), (B), (A), (D)

Correct Answer

Option 3

Correct Answer

Explanation

Q25:

2023: 1 June Shift 1

Macro

>

National Income

Medium

Match List - I with List - II.

	List - I		List - II
(A)	Inventories	(I)	GNP - Depreciation
(B)	Rent	(II)	GDP + NFIA
(C)	GNP	(III)	Capital
(D)	NNP	(IV)	Factor Payment

Choose the correct answer from the options given below :

(A)-(IV), (B)-(III), (C)-(I), (D)-(II)

(A)-(II), (B)-(I), (C)-(III), (D)-(IV)

(A)-(I), (B)-(II), (C)-(IV), (D)-(III)

(A)-(III), (B)-(IV), (C)-(II), (D)-(I)

Correct Answer

Option 4

Correct Answer

Explanation

Q26:

2023: 1 June Shift 1

Macro

>

National Income

Hard

To find Gross value added, arrange the following in sequence :

(A) Import

(B) Export

(C) Domestic sales

(D) Domestic purchase of Raw material

(E) Change in inventories

Choose the correct answer from the options given below :

(A), (B), (D), (C), (E)

(B), (D), (A), (E), (C)

(C), (B), (E), (D), (A)

(C), (D), (A), (B), (E)

Correct Answer

Option 3

Correct Answer

Explanation

Q27:

2023: 1 June Shift 1

Macro

>

National Income

Medium

Match List - I with List - II.

	List - I		List - II
(A)	Value of output	(I)	Sales + Change in stock
(B)	Operating surplus	(II)	Sales + Change in stock - Intermediate consumption
(C)	Profit	(III)	Rent + Interest + Royalty + Profit
(D)	Value added	(IV)	Corporation tax + Undistributed profit + Dividend

Choose the correct answer from the options given below :

(A)-(I), (B)-(IV), (C)-(III), (D)-(II)

(A)-(II), (B)-(I), (C)-(IV), (D)-(III)

(A)-(I), (B)-(III), (C)-(IV), (D)-(II)

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

Correct Answer

Option 3

Correct Answer

Explanation

Q28:

2023: 30 May Shift 1

Macro

>

National Income

Easy

What will be the GDP by Income Method in crore ?

	Firm A	Firm B
Wages	20	60
Profits	30	90

80 Crore

200 Crore

110 Crore

150 Crore

Correct Answer

Option 2

Correct Answer

Explanation

Q29:

2023: 30 May Shift 1

Macro

>

National Income

Medium

Net National Product at factor cost (NNP_FC) is defined as :

Value of output received by the factors of production belonging to a country in a year

The sum of the income earned by all factors in the production in the form of wages, profit, rent and interest etc. belonging to a country during a year. It includes net factor income from Abroad

The value of all final goods and services produced by the normal residents of country

The Gross domestic product at market price less net product taxes

Correct Answer

Option 2

Correct Answer

Explanation

Q30:

2023: 30 May Shift 1

Macro

>

National Income

Easy

The Household receive transfer payments from Government and firms (Pension, Scholarship, Prizes, etc.) They are a part of :

Company Income

Government Income

Pocket Income

Personal Income

Correct Answer

Option 4

Correct Answer

Explanation

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