Q. Which of the following is not included in inventory investment? Change in the stock of finished goods Change in the stock of semi-finished goods Change in the stock of raw material Change in sales during the year Answer: Change in sales during the year
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Q. Compensation of employees includes: wages and salaries in cash wages and salaries in kind pension on retirement all of these Answer: all of these
Q. Increase in the price of commodities due to an increase in taxes assumes relevance in the estimation of NNP at MP because: taxes are compulsory payments taxes are trAnswer:fer payments taxes are paid out of the income of the households taxes cause a rise in the market price of the commodities which otherwise would
Q. Difference between closing stock and opening stock during an accounting year is known as: increase in stock change in stock decrease in stock None of these Answer: change in stock
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Q. Which of the following items is not included while estimating the GNP of a country at market price? Sales of the enterprises Indirect taxes Remittances by NRIs Subsidy Answer: Remittances by NRIs
Q. Own account production of services is not included in national income because: services are different from goods services are not productive it is difficult to measure the market value of such services None of these Answer: it is difficult to measure the market value of such services
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Q. As a result of double counting, national income is: over-estimated Under-estimated correctly estimated not estimated for the entire year of accounting Answer: over-estimated
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Q. Which of the following is not an element of final consumption expenditure? Household expenditure on food Government final consumption expenditure Household expenditure on education Expenditure on raw material Answer: Expenditure on raw material
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Q. Which of the following items is not included while estimating national income by the Income method? Rent Mixed income Fixed investment Undistributed profits Answer: Fixed investment
Q. Gross domestic capital formation is the sum total of: expenditure on fixed assets gross domestic fixed capital formation and change ins stock net domestic fixed capital formation + inventory investment + depreciation both 2 and 3 Answer: both 2 and 3
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