Q. Goods purchased for the following purpose are final goods: For the satisfaction of wants For investment in firm Both 1 and 2 None of the above Answer: Both 1 and 2
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Q. If factor income received from abroad is equal to factor income paid abroad, then which of the following is not a valid statement? National income = Domestic Income NDP at FC + Depreciation = GNP at FC NDP at FC + Depreciation = GNP at MP All are valid Answer: NDP at FC +
Q. Foreign embassies in India are a part of India’s Economic territory Geographical territory both a) and b) None of the above Answer: Geographical territory
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Q. The Japanese Embassy in India is a part of the domestic territory of India Japan Both 1 and 2 International Area Answer: Japan
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Q. Which of the following is an example of Non-durable good? Milk Bread Both 1 and 2 Clothes Answer: Both 1 and 2
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Q. A refrigerator purchased by a confectionery shop is an example of Final good Intermediate good Capital good Both 1 and 3 Answer: Both 1 and 3
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Q. Addition to the capital stock of an economy is termed as: Investment Capital loss Consumption of fixed capital All of these Answer: Investment
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Q. Unforeseen obsolescence of fixed capital assets during production is Consumption of fixed capital Capital loss Income loss None of the above Answer: Capital loss
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Q. Sugar purchased by a Sweet shop is an……good, while it is a ……good when it is purchased by a consumer Capital, final final, intermediate intermediate, final final, producer Answer: intermediate, final
Q. Depreciation of fixed capital assets refers to: Normal wear and tear Foreseen obsolescence Normal wear and tear & foreseen obsolescence Unforeseen obsolescence Answer: Normal wear and tear & foreseen obsolescence
