CBSE Questions for Class 12 Commerce Economics National Income Accounting Quiz 9 - MCQExams.com

________ refers to the income which accrues to private sector from all the sources within and outside the country.
  • Private income
  • Personal income
  • Factor income
  • Transfer income
________ refers to gross market value of all final goods and services produced by the normal residents of a country during a period of one year.
  • GNP at MP
  • GNP at FC
  • NNP at MP
  • NNP at FC
__________refers to gross money value of all final goods and services produced by the normal residents of a country during a period of one year.
  • GNP at MP
  • GNP at FC
  • NNP at MP
  • NNP at FC
_________ refers to gross money value of all final goods and services produced within the domestic territory of a country during a period of one year.
  • GDP at MP
  • GDP at FC
  • NDP at MP
  • NDP at FC
_________ refers to net money value of all final goods and services produced by the normal residents of a country during a period of one year.
  • GNP at MP
  • GNP at FC
  • NNP at MP
  • NNP at FC
_________ is the sum total of all the incomes that are actually received by households from all the sources.
  • Private income
  • Personal income
  • National income
  • Personal disposable income
_____________ refers to the income which is available to the whole country for disposal.
  • National disposal income
  • Private income
  • Personal income
  • Personal disposal income
Which of the following is a final good?
  • Seeds used by a farmer on his field
  • Tyres purchased by a transport company
  • Unsold stock of goods lying with the seller
  • Computer purchased by dealer
According to _________ method, all the incomes that accrue to the factors of production by way of wages, profits, rent, interest, etc. are assumed up to obtain the national income.
  • Value added
  • Income
  • Expenditure
  • All of the above
__________ refers to that part of personal income which is actually available at the disposal of households.
  • Private income
  • Personal income
  • Personal disposable income
  • Personal tax
What is/are excluded from the personal disposable income?
  • Personal taxes
  • Miscellaneous receipts of government
  • Both A and B
  • None of the above
Which of the following correctly represents value of National Income?
  • COE + OS + MIXED INCOME + NFIA
  • COE + OS - MIXED INCOME + NFIA
  • COE - OS - MIXED INCOME + NFIA
  • COS - OS - MIXED INCOME - NFIA
Gross investment is equal to
  • net investment - depreciation
  • expenditure on the purchase of intermediate as well as final goods
  • net investment + depreciation
  • None of the above
Expenditure of the producers on the purchase of capital goods causes
  • fixed investment
  • inventory investment
  • gross investment
  • net investment
Which of the following is the cause of unexpected obsolescence?
  • Natural calamities
  • Change in demand
  • Change in technology
  • both b and c
Intermediate goods are those goods
  • which have yet not crossed the boundary line of production
  • which are purchased by one firm from the other firm for resale
  • both a and b
  • none of these
Goods that are used by the producers for several years and are of high value are called
  • intermediate goods
  • capital goods
  • consumption goods
  • none of these
Electric goods like tubelights and bulbs are examples of
  • durable consumer goods
  • semi-durable consumer goods
  • non-durable consumer goods
  • all of these
Depreciation is the
  • loss of value of fixed assets in use due to normal wear and tear
  • loss of value of fixed assets in use due to normal rate of accidental damages
  • loss of value of fixed assets in use due to foreseen obsolescence
  • all of these
Stock of man-made goods which are used for further production is called
  • investment
  • capital stock
  • capital formation
  • both a and c
Goods that are used-up in a single act of consumption are called
  • durable consumer goods
  • semi-durable consumer goods
  • non-durable consumer goods
  • non-material consumer goods
Which of the following is a stock variable?
  • Interest on capital
  • Distance between Delhi and Goa
  • Expenditure of money
  • All of these
A two thousand rupee note is an example of
  • Stock variable
  • Flow variable
  • either stock or flow
  • neither stock or flow
Loss of value of fixed assets owing to unexpected obsolescence is called
  • capital formation
  • capital loss
  • unexpected loss
  • depreciation
Flow of goods and services across different sectors of the economy is called
  • real flow
  • circular flow
  • moetary flow
  • inventory flow
The producer sector depends on the household sector for the supply of
  • goods and services
  • factors of production
  • both a and b
  • none of these
Expenditure on Final Goods =
  • Consumption expenditure + Investment expenditure
  • Consumption expenditure - Investment expenditure
  • Consumption expenditure x Investment expenditure
  • Consumption expenditure + Investment expenditure
Quantity measured at a particular point of time is called
  • flow variable
  • stock variable
  • fixed inventory
  • none of these
Which of the following is a component of profit?
  • Undistributed profit
  • Dividends
  • Corporation profit tax
  • All of these
Operating Surplus =
  • Compensation of employees + Rent + Interest + Profit
  • Rent + Interest + Profit
  • Compensation of employees + Mixed income of self-employed
  • Compensation of employees + Rent + Interest + Profit + Mixed income of self-employed
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