Maximum Mark 20 Question 1) Which of the following is a transfer payment ? Answers Option 1 Rent Option 2 Wage Option 3 Pension Option 4 Profit Question 2) Gross value added = Factor Cost + Depreciation + ___ Answers Option 1 Net Investment Option 2 Net Indirect Tax Option 3 Subsidy Option 4 Savings Question 3) The term used to refer the benefits (or harm) a firm or an individual causes to another firm or an individual for which they are not paid is Answers Option 1 Transfer payments Option 2 Welfare Option 3 Externalities Option 4 Internal economies Question 4) Pick out the correct equation Answers Option 1 GDP = GNP + NFIA Option 2 NNP = GNP - Depreciation Option 3 NNP = GNP - NIT Option 4 NDP = GDP - NIT Question 5) Flow of goods and services from one sector to another sector is called Answers Option 1 Money Flow Option 2 Circular flow Option 3 Factor Income Option 4 Real Flow Question 6) The textile owner increases his inventory of cloth morethan his expected sale for the expansion of his shop. Which of the following term is used to denote this ? Answers Option 1 Planned Accumulation Option 2 Planned decumulation Option 3 Unplanned accumulation Option 4 Unplanned decumulation Question 7) Net addition to the existing stock of capital is called Answers Option 1 Depreciation Option 2 National Income Option 3 Investment Option 4 Per capita income Question 8) Under Income Method of finding National Income GDP ≡ W + P + In + __ Answers Option 1 C Option 2 R Option 3 G Option 4 X - M Question 9) Goods meant either for final consumption or for investment are called Answers Option 1 Capital goods Option 2 Intermediate goods Option 3 Consumption goods Option 4 Final goods Question 10) A balanced budget multiplier is unity implies that ₹ 100 increase in 'G' increases National Income by Answers Option 1 100 Option 2 150 Option 3 80 Option 4 50 Question 11) Give one word National Income ÷ Population Answers Option 1 GDP Option 2 Per capita income Option 3 Disposable income Option 4 PI Question 12) GDP + _____ = GNP Answers Option 1 PI Option 2 NIT Option 3 Depreciation Option 4 NFIA Question 13) Find the odd one out GNP, NNP, CSO, GDP Answers Option 1 GNP Option 2 NNP Option 3 GDP Option 4 CSO Question 14) Arrange in order Concepts Terms i) Value of output - Intermediate concepts a. GNP ii) GDP + NFIA b. NNP iii) GNP - Depreciation c. Value added iv) NNPMP - NIT d. NNPFC Answers Option 1 i)b, ii)c, iii)d, iv)a Option 2 i)c, ii)a, iii)b, iv)d Option 3 i)d, ii)c, iii)b, iv)a Option 4 i)a, ii)c, iii)d, iv)b Question 15) When does GDP and GNP of an economy become equal ? Answers Option 1 When net factor income from abroad is positive Option 2 When net factor income from abroad is zero Option 3 When net factor income from abroad is negative Option 4 None of the above Question 16) When does NFIA become negative ? Answers Option 1 NDP = NNP Option 2 NDP > NNP Option 3 NNP < NDP Option 4 None of the above Question 17) NFIA is included in : Answers Option 1 NNPFC Option 2 NDPFC Option 3 GDPFC Option 4 All of the above Question 18) Which among the following is a flow concept ? Answers Option 1 Wealth Option 2 Capital Option 3 Foreign exchange reserve Option 4 Export Question 19) GNP - Depreciation is called Answers Option 1 PCI Option 2 GDP Option 3 NI Option 4 NNP Question 20) GDP Deflator is equal to Answers Option 1 Option 2 Option 3 Option 4 Real gdp - Nominal GDP Enable JavaScript
