national income mcqs

Q. Given GDP at mp = 100, subsidies = 5 and depreciation = 10, then NDP at fc equals : 95 100 105 115 Answer: 95

Q. Economic territory of a country is also called : Geographical territory Political frontiers Domestic territory All the above Answer: Domestic territory

Q. A ‘resident’ of a country is one : Who was born in that country Who lives in that country Who is citizen of that country Who lives, earns, spends and accumulates in that country Answer: Who lives, earns, spends and accumulates in that country

Q. Economics territory is one in which the following move freely : People Goods Capital All the above Answer: All the above

Q. A firm hires the services of a chartered accountant and pays fees. For the firm, payment of fess is:- Final expenditure Intermediate expenditure Investment expenditure Capital expenditure Answer: Intermediate expenditure

Q. Capital loss is:- Normal wear and tear of fixed capital goods Foreseen obsolescence Unforseen obsolescence All the above Answer: Unforseen obsolescence

Q. Food Items purchased by a production unit are Single-use consumer goods Durable use consumer goods Single-use Capital goods Durable use capital goods Answer: Single-use Capital goods

Q. Purchase of refrigerator by a restaurant is:- Consumption expenditure on durable good Consumption expenditure on non-durable good Intermediate expenditure Final expenditure Answer: Final expenditure

Q. Fixed capital at the end of the year 2013 was ₹ 50 crore and at the end of the year 2014 ₹ 55 crore. Closing stock at the end of year 2013 and 2014 was respectively ₹ 10 crore and ₹ 5 crore respectively. Gross investment during 2014 is :- 0 5 10 15

Q. Capital at the end of the year 2012 was ₹ 100 crore and at the end of the year 2013 was ₹ 110 crore. Depreciation during the year 2013 was ₹ 5 crore. Gross investment during 2013 is:- ₹ 5 crore ₹ 10 crore ₹ 15 crore ₹ 110 crore Answer: ₹ 10 crore