Q. Which one of the following is included in circular flow? Real FlowMoney FlowBoth (1) and (2)None of these Answer: Both (1) and (2)

Q. Accounting of National Income at constant prices is known as ________ Money incomeReal incomeCurrent incomeDomestic income Answer: Real income

Q. Macro Economics Studies: Employment opportunities in the economyTheory of supply of CommoditiesElasticity of demand in ScooterPrice of wheat in the market Answer: Employment opportunities in the economy

Q. Which of the following items are excluded from GNP measurement? Purely financial transactionsTransfer of used goods and non-market goods and servicesIllegal activities and the value of leisureAll of these Answer: All of these

Q. The subject of the Study of Macro Economics is: The Principle of National IncomeThe Principle of ConsumerThe Principle of ProducerNone of these Answer: The Principle of National Income

Q. Who had made the first attempt at National Income Accounting? Prof. D.R.GadgillSimon KuznetsJ.M.KeynesGregory King Answer: Gregory King

Q. Why are the intermediate goods not included in the National Income while measuring National Income? To avoid double accountingIt decreases incomeIntermediate goods are not goodAll of these Answer: To avoid double accounting

Q. Calculation of National Income at Market Prices is known as _________ Money incomeReal incomeNon-monetary incomeNone of these Answer: Money income

Q. Which of the following is the method of measuring National Income? Income methodProduct methodExpenditure methodAll of these Answer: All of these

Q. NNPMP = ________ GNPMP – DepreciationNDPMP + Net factor income from abroadNNPFC + Net indirect taxesAll of these Answer: All of these