Practice Exam 2 Question 1) In order to avoid the problem of double counting we use Answers Option 1 Income method Option 2 Value added method Option 3 Expenditure method Option 4 Distributed share method Feedback Wrong click Correct selection ! Wrong click Incorrect click Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2) Net Investment = Gross Investment - ___ Answers Option 1 Depreciation Option 2 Indirect Tax Option 3 Net Factor Income Option 4 Factor Payment Feedback Correct selection ! Wrong click Wrong click Incorrect click Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3) Net contribution made by a firm in production process is called Answers Option 1 Expenditure method Option 2 Income method Option 3 Value added Option 4 None of the above Feedback Wrong click Wrong click Correct selection ! Incorrect click Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4) Value of output = Price × ___ Answers Option 1 Demand Option 2 Supply Option 3 Quantity Option 4 None of the above Feedback Incorrect click Wrong click Correct selection ! Incorrect click Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 5) Match the following A B i) NNP a. GDP - NFIA ii) GNP b. Personal Income - Direct Taxes iii) Value Added c. GNP - Depreciation iv) GDP at market prices d. Value of output - Intermediate consumption v) Disposable income e. GDP at factor cost - Net Indirect Tax Answers Option 1 i)b, ii)c, iii)d, iv)a, v)e Option 2 i)c, ii)a, iii)d, iv)e, v)b Option 3 i)d, ii)c, iii)b, iv)a, v)e Option 4 i)a, ii)c, iii)d, iv)b, v)e Feedback Wrong click Correct selection ! Wrong click Incorrect click Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6) Find the odd one out Gift, Bonus, Donation, Saving Answers Option 1 Gift Option 2 Donation Option 3 Bonus Option 4 Saving Feedback Wrong click Wrong click Incorrect click Correct selection ! Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 7) Write one word A variable defined at a perticular point of time Answers Option 1 Stock Option 2 Inventory Option 3 Flow Option 4 Income Feedback Correct selection ! Wrong click Wrong click Incorrect click Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8) Select consumption good Answers Option 1 Tractor Option 2 Clothing Option 3 Road Option 4 Raw Cotton Feedback Wrong click Correct selection ! Wrong click Incorrect click Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9) The index of prices of a given basket of commodities which are bought by a representative consumer is Answers Option 1 WPI Option 2 CPI Option 3 PPI Option 4 GDP Feedback Wrong click Correct selection ! Wrong click Incorrect click Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10) Which of the following shows budget deficit ? Answers Option 1 G - T Option 2 X - M Option 3 T - S Option 4 S - I Feedback Correct selection ! Wrong click Wrong click Incorrect click Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback)
