CBSE Questions for Class 12 Commerce Economics National Income Accounting Quiz 3 - MCQExams.com

Self employed people generally earn mixed income.
  • True
  • False
Investments made by the government is _____________ investment.
  • induced
  • autonomous
  • gross
  • unplanned
Unpaid service should be _____ in the estimate of net income.
  • excluded
  • included
  • nullified
  • added
In developing countries the marginal propensity to consume is ______ than underdeveloped countries.
  • more
  • less
  • constant
  • fluctuating
_______ is the method of national income is used in the trade, hotels and restaurants sector.
  • Value added method
  • Income method
  • Expenditure method
  • None of the above
Expected rate of return on investment is called_______ of capital.
  • marginal efficiency
  • average efficiency
  • opportunity cost
  • rate of interest
With an increase in income savings naturally ________.
  • decreases
  • increases
  • becomes zero
  • constant
_______ investment refers to the investment made without reference to income or profit.
  • Induced
  • Autonomous
  • Inventory
  • Gross
_______ method of measuring national income is used in the transport communication and storage sector.
  • Value added method
  • Income method
  • Expenditure method
  • None of the above
Induced investment is made without reference to profit.
  • True
  • False
Net exports will be positive if ______.
  • import > export
  • export > import
  • export = import
  • export = zero
Net investment refers to expenditure incurred on new capital goods.
  • True
  • False
_______ of measuring national income is used in the public administration and defense sector.
  • Value added method
  • Income method
  • Expenditure method
  • None of the above
Given personal income of Rs.7510, personal income tax of Rs. 410, Consumption being Rs. 5000, Personal saving being Rs.Find the disposal income.
  • Rs. 7000
  • 6890
  • Rs. 7100
  • Rs. 6700
________ of measuring national income is used in the unregistered manufacturing sector.
  • Value added method
  • Income method
  • Expenditure method
  • None of the above
______ is the personal income minus personal income tax and miscellaneous payments to government.
  • Surplus income
  • Disposable income
  • Expendable income
  • Residual income
The value of plant and machinery used and worn out in the manufacturing of goods and services is known as _______.
  • transfer payment
  • intermediate goods
  • depreciation
  • gross block
Which of the following is an example of an intermediate goods?
  • A Tata Indica sold by a dealer of second hand cars
  • Steel and cement used to construct a flyover
  • Farming crop purchased by FCI
  • All of the above
The major difference between personal income and disposal income is _______.
  • indirect tax
  • direct taxes
  • savings
  • investment
Given personal income of Rs.8000, personal income tax of Rs.1200, Consumption Rs. 5000, Personal saving is equal to ______.
  • Rs.2000
  • Rs.2400
  • Rs.2900
  • Rs.1800
Given personal income of Rs.7510, personal income tax of Rs.410, Consumption being Rs. 5000, Personal saving will be _______.
  • Rs.7000
  • Rs.6890
  • Rs.2100
  • Rs.6700
In small sector net value added is esteemed by the ______.
  • income method
  • expenditure method
  • production method
  • survey method
_______ is that part of national income that are used by households to buy domestic consumer goods. 
  • Injection
  • Withdrawal
  • Investment
  • Consumption
From the following equation estimate Income (Y) consumption is Rs.1000 is _______.
C=Rs. 200+0.80Y$$_d$$
  • Rs. 1000
  • Rs. 1100
  • Rs. 900
  • Rs. 800
Circular flow refers to reciprocal relationship of income, ___________.
  • consumer and government
  • consumer and producers
  • producers and government
  • Government and producers
From the following equation estimate disposal income (Y) when consumption (C) is Rs. 1000.
C=Rs. 160+0.80Y$$_d$$
  • Rs. 1100
  • Rs. 800
  • Rs. 900
  • Rs. 1000
Which of these is a leakage from circular flow of income?
  • Saving
  • Investment
  • Consumption
  • Export
_________ is an expenditure on goods and services produced in domestic territory but not used by the domestic household for consumption purpose.
  • Injection
  • Withdrawal
  • Investment
  • Consumption
Given an economy's total expenditure of Rs.80,000 Cr, the income of the economy will be ________.
  • just Rs.80,000 crore
  • Rs.80,000 crore less depreciation
  • Rs.80,000 plus savings
  • Rs.80,000 crore less depreciation plus indirect taxes
Which of these is not a final goods?
  • steel fabricated structure
  • scholarship paid to meritorious students
  • milk purchased by a road side tea stall
  • brick used in construction of temporary shed for the factory
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