Class 12 Economics MCQ Chapter 2 National Income And Related Aggregates Question Answer English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 12 Economics MCQ Chapter 2 National Income And Related Aggregates and select need one. AHSEC Class 12 Economics Objective Type Solutions As Per AHSEC New Book Syllabus Download PDF. AHSEC Economics MCQ Class 12.
Class 12 Economics MCQ Chapter 2 National Income And Related Aggregates
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 12 Economics Multiple Choice Solutions are part of All Subject Solutions. Here we have given AHSEC Class 12 Economics MCQ in English for All Chapters, You can practice these here.
National Income And Related Aggregates
Chapter: 2
| PART – A: INTRODUCTORY MICROECONOMICS |
1. Which of the following is an example of an intermediate good?
(i) Bread bought by a household.
(ii) Steel used in car manufacturing.
(iii) Washing machine bought by a family.
(iv) Rice cooked at home.
Ans: (ii) Steel used in car manufacturing.
2. Final goods are:
(i) Used for further production.
(ii) Sold for resale.
(iii) Ready for use by final users.
(iv) Always imported.
Ans: (iii) Ready for use by final users.
3. Expenditure on which is included in national income?
(i) Intermediate goods.
(ii) Final goods.
(iii) Raw materials.
(iv) Inventory.
Ans: (ii) Final goods.
4. Gross investment is:
(i) Net investment plus depreciation.
(ii) Net investment minus depreciation.
(iii) Only new assets.
(iv) Only savings.
Ans: (i) Net investment plus depreciation.
5. Net investment is:
(i) Gross investment plus depreciation.
(ii) Gross investment minus depreciation.
(iii) Depreciation minus gross investment.
(iv) Gross investment multiplied by depreciation.
Ans: (ii) Gross investment minus depreciation.
6. Which of the following is a stock variable?
(i) National income.
(ii) Inventory at year-end.
(iii) GDP.
(iv) Production over a year.
Ans: (ii) Inventory at year-end.
7. Depreciation is:
(i) Appreciation in asset value.
(ii) Loss of value due to wear and tear.
(iii) Increase in profits.
(iv) National income.
Ans: (ii) Loss of value due to wear and tear.
8. Inventory is:
(i) Cash in hand.
(ii) Unsold stock of goods.
(iii) Bank deposit.
(iv) Loan taken.
Ans: (ii) Unsold stock of goods.
9. Flow variable is measured:
(i) At a point of time.
(ii) Over a period of time.
(iii) Once in a lifetime.
(iv) On a specific date.
Ans: (ii) Over a period of time.
10. Domestic territory includes:
(i) Only land area of the country.
(ii) Indian embassies abroad.
(iii) Foreign embassies in the country.
(iv) Tourist places.
Ans: (ii) Indian embassies abroad.
11. Normal resident is:
(i) A tourist.
(ii) Person with economic interest in the country.
(iii) Temporary visitor.
(iv) Foreign diplomat.
Ans: (ii) Person with economic interest in the country.
12. Factor income is:
(i) Lottery income.
(ii) Transfer payment.
(iii) Wage received for labour.
(iv) Old age pension.
Ans: (iii) Wage received for labour.
13. Transfer income is:
(i) Received for rendering service.
(ii) Earned by production.
(iii) Received without any productive activity.
(iv) Always included in national income.
Ans: (iii) Received without any productive activity.
14. Value added is calculated as:
(i) Output plus intermediate consumption.
(ii) Output divided by intermediate goods.
(iii) Output minus intermediate consumption.
(iv) Output multiplied by depreciation.
Ans: (iii) Output minus intermediate consumption.
15. Circular flow of income involves:
(i) Only production phase.
(ii) Only expenditure phase.
(iii) Production, distribution, and expenditure phases.
(iv) Only saving phase.
Ans: (iii) Production, distribution, and expenditure phases.
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