CBSE Questions for Class 12 Commerce Economics National Income Accounting Quiz 6 - MCQExams.com

National income may be computed under _________ method.
  • product
  • income
  • expenditure
  • all of the above
Which of the following is not, by definition, equal to National Income?
  • National Product
  • National Expenditure
  • National Output
  • National Wealth
GNP excludes _________.
  • rental incomes
  • interest payments
  • dividends
  • government transfer payments
Product Method focuses on measurement of National Income at _______________.
  • phase of Production of Goods and Services
  • phase of Income Distribution
  • phase of Income Disposition
  • all of the above
National income at market prices, plus subsidies, but less indirect taxes is equal to which one of the following?
  • Gross national income
  • National income at factor cost
  • Private income before cost
  • Net consumer income
NNP at MP = NNP at FC, when there is ____________.
  • no direct tax
  • no indirect tax
  • no subsidy
  • no indirect tax and no subsidy
Which will increase GNP?
  • A rise in the Market Price
  • A surplus in Budget
  • An increase in Investment
  • A deficit in Budget
_________ method is suitable for measuring National Income in the case of Agricultural sector.
  • Product
  • Income
  • Expenditure
  • All of the above
Income method focusses on measurement of National Income at ______________________.
  • phase of Production of Goods and Services
  • phase of Income Distribution
  • phase of Income Disposition
  • all of the above
Value Added Method is used to measure _______________.
  • national income
  • domestic income
  • gross income
  • personal income
The production method of calculating national income is also known as _______________.
  • value added method
  • income method
  • expenditure method
  • none of the above
_____________ method is suitable for measuring National Income in the case of construction sector.
  • Product
  • Income
  • Expenditure
  • All of the above
______________ method is also called value added method of computing national income.
  • Product
  • Income
  • Expenditure
  • All of the above
The Net Values Added method of measuring National Income is also known as ______________.
  • Net Output Method
  • Production Method
  • Industry of Origin Method
  • All of the above
Expenditure Method focusses on measurement of National Income at _____________________.
  • phase of Production of Goods and Services
  • phase of Income Distribution
  • phase of Income Disposition
  • all of the above
___________ method is suitable for measuring National Income in the case Small Scale Sector.
  • Product
  • Income
  • Expenditure
  • All of the above
_____________ method is suitable for measuring National Income in the case of Developed Countries where all persons file their income-tax returns.
  • Product
  • Income
  • Expenditure
  • All of the above
Which of the following items are included in computing National Income under Income Method?
  • Transfer Incomes
  • Illegal Incomes
  • Incomes earned by Owners of Primary Factors of Production
  • All of the above
National income figures are __________.
  • very exact
  • practically exact
  • only estimates
  • money
Under Expenditure Method, Consumption Expenditure + Net Domestic Investment equals _____________.
  • Gross Domestic Expenditure
  • Gross National Expenditure
  • Net Domestic Expenditure
  • Net National Expenditure
In which of the following approaches is National Income measured by calculating the Total Value of the Final Output of a country?
  • Income Approach
  • Product Approach
  • Expenditure Approach
  • No such measures exist, where final output of a country is considered for measuring National Income
Under Expenditure Method, Consumption Expenditure + Net Domestic Investment + Net Foreign Investment equals _____________.
  • Gross Domestic Expenditure
  • Gross National Expenditure
  • Net Domestic Expenditure
  • Net National Expenditure
Under expenditure Method, Consumption Expenditure + Net Domestic Investment + Replacement Expenditure equals ______________.
  • Gross Domestic Expenditure
  • Gross National Expenditure
  • Net Domestic Expenditure
  • Net National Expenditure
The annual flow of Factor Earnings in the form of Wages,Rents,Interests and Profits accrued from Labour, Land, Capital and Organization respectively are taken into account  in which of the following approaches to measuring National Income?
  • Income Approach
  • Expenditure Approach
  • Product Approach
  • All the approaches consider Factor Earnings
Net Value Added is equal to _____________________.
  • Payments accruing to Factors of Production
  • Compensation to Employees
  • Wages plus Rent plus Imputed Rent
  • Value of Output minus Depreciation
Which of the following items are included in computing National Income under Product Method?
  • Own account production of Fixed Assets by Government,Enterprises and Households
  • Production for Self-Consumption,
  • Imputed Rent of owner-occupied houses
  • All of the above
Income Method does not include _____________.
  • rent
  • mixed incomes
  • pensions
  • all of the above
GNP is a poor measure of welfare because it does not show ____________.
  • composition of output
  • population level
  • price level
  • all of the above
A refrigerator operating in a chemist's shop is an example of ______________.
  • free good
  • final good
  • intermediate good
  • consumer good
$$NNP_{fc}$$ =  ________.
  • $$GNP_{fc}$$-Depreciation
  • $$NNP_{mp}$$- indirect taxes
  • $$GNP_{mp}$$- depriciation
  • $$GNP_{fc}$$-net indirect taxes
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