1.GNP at MP = ______
(A) GDPMP – Depreciation
(B) GDPMP + Depreciation
(C) GDPMP ÷ Depreciation
(D) GDPMP + Net factor income from abroad
2.NDPMP = ________
(A) GDPMP – Depreciation
(B) GDPFC + Net factor income from abroad
(C) NNPFC + Net indirect taxes
(D) All of these
3.NNPMP = ________
(A) GNPMP – Depreciation
(B) NDPMP + Net factor income from abroad
(C) NNPFC + Net indirect taxes
(D) All of these
4.GDPFC =
(A) GDPMP – Net indirect taxes
(B) GDPMP + Net indirect taxes
(C) GDPMP + Subsidies
(D) GDPMP – Indirect taxes
5. NDPFC =
(A) GDPFC – Indirect taxes
(B) GDPFC – Depreciation
(C) GDPFC + Economic subsidy
(D) All of these
6. NNPFC =
(A) GNPFC – Depreciation
(B) NNPMP + Economic subsidy – Indirect taxes
(C) NDPMP + Net factor income from abroad
(D) All of these
7. Food Items purchased by a production unit are
a) Single-use consumer goods
b) Durable use consumer goods
c) Single-use Capital goods
d) Durable use capital goods
8. 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:-
a) ₹ 5 crore
b) ₹ 10 crore
c) ₹ 15 crore
d) ₹ 110 crore
9. 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 :-
a) 0
b) 5
c) 10
d) 15
10. Capital loss is:-
a) Normal wear and tear of fixed capital goods
b) Foreseen obsolescence
c) Unforseen obsolescence
d) All the above
11. A firm hires the services of a chartered accountant and pays fees. For the firm, payment of fess is:-
a) Final expenditure
b) Intermediate expenditure
c) Investment expenditure
d) Capital expenditure
12. Purchase of refrigerator by a restaurant is:-
a) Consumption expenditure on durable good
b) Consumption expenditure on non-durable good
c) Intermediate expenditure
d) Final expenditure
13. National income is the sum of factor income accruing to
(i) Nationals
(ii) Economic territory
(iii) Residents
(iv) Both residents and non-residents
14. Who had made the first attempt at National Income Accounting?
(i) Prof. D.R.Gadgill
(ii) Simon Kuznets
(iii) J.M.Keynes
(iv) Gregory King
15. Which of the following is not a component of domestic income?
(i) Operating surplus
(ii) Compensation of employees
(iii) Net factor income from abroad
(iv) Mixed income
16. Net capital formation causes
(i) Increase in production capacity
(ii) Increase in depreciation
(iii) Increase in profits
(iv) Increase in cost
17. Accounting of National Income at constant prices is known as
(i) Money income
(ii) Real income
(iii) Current income
(iv) Domestic income
18. Calculation of National Income at Market Prices is known as
(i) Money income
(ii) Real income
(iii) Non-monetary income
(iv) None of these
19. NNPMP = __
(A) GNPMP – Depreciation
(B) NDPMP + Net factor income from abroad
(C) NNPFC + Net indirect taxes
(D) All of these
20. GDPFC =
(A) GDPMP – Net indirect taxes
(B) GDPMP + Net indirect taxes
(C) GDPMP + Subsidies
(D) GDPMP – Indirect taxes
21. NDPFC =
(A) GDPFC – Indirect taxes
(B) GDPFC – Depreciation
(C) GDPFC + Economic subsidy
(D) All of these
22. NNPFC =
(A) GNPFC – Depreciation
(B) NNPMP + Economic subsidy – Indirect taxes
(C) NDPMP + Net factor income from abroad
(D) All of these
23. Which of the following is the method of measuring National Income?
(A) Income method
(B) Product method
(C) Expenditure method
(D) All of these
24. Why are the intermediate goods not included in the National Income while measuring National Income?
(A) To avoid double accounting
(B) It decreases income
(C) Intermediate goods are not good
(D) All of these
25. Who had made the first attempt at National Income Accounting?
(A) Prof. D.R.Gadgill
(B) Simon Kuznets
(C) J.M.Keynes
(D) Gregory King
