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MAcro Eco

The document contains multiple choice questions related to national income accounting concepts and measures. It tests understanding of key terms like GDP, GNP, NDP, consumption, investment, government expenditure, exports, imports and how national income is calculated. It also includes questions on human development indicators, inflation, exchange rates, purchasing power parity and the relationship between inflation and unemployment.

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Bhavan Yadav
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70 views9 pages

MAcro Eco

The document contains multiple choice questions related to national income accounting concepts and measures. It tests understanding of key terms like GDP, GNP, NDP, consumption, investment, government expenditure, exports, imports and how national income is calculated. It also includes questions on human development indicators, inflation, exchange rates, purchasing power parity and the relationship between inflation and unemployment.

Uploaded by

Bhavan Yadav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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National ____ is a yardstick through which progress of an economy is

measured.
A. income
B. expense
C. export
D. import
ANSWER: A

If we add value of inputs as well as final goods, it is called _____


counting.
A. Single
B. Double
C. Multi
D. mixed
ANSWER: B

____ account is related to a given period, that is financial year.


A. Fixed
B. Capital
C. GDP
D. Fluctuation
ANSWER: C

Products produced during the earlier year annot be includded in the


current year ___.
A. GDP
B. Capital
C. Fixed
D. Fluctuation
ANSWER: A

The three measures of national income give rise to the '____'.


A. triple identity
B. double identity
C. single identity
D. normal identity
ANSWER: A

In India national income measures are published by ______.


A. Central Statistical Organization
B. State Statistical Organization
C. National Statistical Organization
D. International Statistical Organization
ANSWER: A

Human development takes into account as per ____.


A. capita income
B. life expectation
C. level of literacy
D. all of the above
ANSWER: D

Goods and services produced ___ the country, are included in the GDP of
that particular country.
A. within
B. outside
C. beyound
D. inside
ANSWER: A

The concept of national income is a _____ measure.


A. monetary
B. conceptual
C. informative
D. adaptive
ANSWER: A

______ appear in national income accounts to make three total balance.


A. errors and ommission
B. Calculations
C. Balance sheet
D. Trial and Balance
ANSWER: A

In the _____method national income is estimated by adding the value of


all final goods and services.
A. input
B. output
C. fixed
D. fluctation
ANSWER: B

The ____ people invest their own money besides the borrowed money.
A. unemployed
B. Self employed
C. Deployed
D. underemployed
ANSWER: B

In order to avoid ____ counting only expenditure on final goods and


services should be included.
A. Single
B. double
C. triple
D. normal
ANSWER: B

National income=_____
A. C+I+G+(X+M)
B. C+I+G+(X-M)
C. C+I+G-(X+M)
D. C+I-G+(X-M)
ANSWER: B

The ___ is calculated on original cost of asset.


A. Capital
B. depreciation
C. inflation
D. recession
ANSWER: B

Changes in ___ are included in GNI.


A. stock
B. Goods and services
C. inventories
D. capital
ANSWER: C

Under ___ method the national income is estimated by adding the value of
all final goods and services.
A. output
B. input
C. cost
D. direct
ANSWER: A

In ___ Depreciation method, the price of equipment is remained constant.


A. Capital
B. Stock
C. Input
D. Output
ANSWER: A

A country which has no economic relations with other countries is called


as _____ economy.
A. Open
B. closed
C. moderate
D. different
ANSWER: B
The income earned by ____ people invest their own money besides the
borrowed money.
A. selfemployed
B. deployed
C. self estemmed
D. unemployed
ANSWER: A

The income of selfempolyed is also called as _____.


A. income
B. self income
C. mixed income
D. expense
ANSWER: C

National income by ____ method is the sum of


consumption,expenditure,total investment,govt expenditure.3
A. expenditure
B. income
C. deferred
D. expense
ANSWER: A
In the ___ method only the incomes that have been earned in return for
productive services are included.
A. expenditure
B. income
C. deferred
D. expense
ANSWER: B

NDP=GDP-______.
A. Depriciation
B. Export
C. Import
D. Sales
ANSWER: A

___ is defined as the value of all final goods and services during a
given period of time.
A. GNP
B. GDP
C. NDP
D. LDP
ANSWER: B

____ is calculated by subtracting depriciation from GDP.


A. NDP
B. GDP
C. GNP
D. PDP
ANSWER: A

In the process of production, capital in the form of _____ capital is


worn out.
A. financial
B. physical
C. monetary
D. normal
ANSWER: B

A country which has no ____ relations with other coutries is called as


closed economy.
A. political
B. cultural
C. economic
D. social
ANSWER: C

The _____ between nominal GDP and real GDP is the price of GDP.
A. difference
B. surplus
C. variety
D. marginal
ANSWER: A
____ is a continuous increase in the general price level.
A. Defaltion
B. Recession
C. Inflation
D. Export
ANSWER: C

PPP indicates ____.


A. Real Value
B. Nominal Value
C. Capital Value
D. Issue value
ANSWER: A

India ranks among _____.


A. High Human Development Group
B. Medium Human Development Group
C. Low Human Development Group
D. Neither
ANSWER: B

The point when ADF and ASF intersect is called ____.


A. Total demand
B. Effective demand
C. Equilibrium price
D. Inflationary Gap
ANSWER: B

Keynes theory is also called as _____.


A. General Theory
B. Common Theory
C. Natural Theory
D. Manmade Theory
ANSWER: A

___ employment is defined as a situation where all those willing and able
to work at the rate are employed.
A. Full
B. Below
C. Under
D. Above
ANSWER: A

The LRPC is ___hence does not accept a trade-off.


A. verticle
B. Straight
C. Horizontal
D. Upwards
ANSWER: A
The difference between nominal GDP and real GDP is the price of _____.
A. GNP
B. GDP
C. NPN
D. GLP
ANSWER: B
_____ theory between inflation and unemployment is a short-run
phenomenon.
A. Trade-Off
B. Trade-on
C. Trade-cut
D. Trade-put
ANSWER: A

Another term coined to express the natural rate of unemployment is ____.3


A. LSUR
B. LSPR
C. LSPD
D. LSPO
ANSWER: A

India ranks among ____.


A. High Human Development Group
B. Medium Human Development Group
C. Moderate Human Development Group
D. Slow Human Development Group
ANSWER: B

____ is based on the single price.


A. PPP
B. CCC
C. PLP
D. PHP
ANSWER: A

Multidimensional poverty index brings out the rael or ____ in a country.


A. rich
B. poverty
C. wealth
D. political
ANSWER: B

HDI value of India in 2016 HDI report is ____.


A. 0.408
B. 0.582
C. 0.624
D. 0.527
ANSWER: C

____ measures the quality of life.


A. HDI
B. HKI
C. HNP
D. HLK
ANSWER: A

_____ is a composite measure of health,education and income.


A. HDI
B. HKI
C. HNP
D. HLK
ANSWER: A

____ are calculated on the basis of both internationally and domestically


traded commodities.
A. Income indices
B. Price Indices
C. Export Indices
D. Import Indices
ANSWER: B

_____ rate is the price of one currency in terms of another currency.


A. Exchange
B. Import
C. Export
D. Current
ANSWER: A

_____ countries in the HDI range less than 550 grouped in this category.
A. Moderate Human Development Group
B. High Human Development Group
C. Medium Human Development Group
D. Low Human Development Group
ANSWER: D

Standard of living is measured by ____ per capita.


A. GNP
B. GDP
C. GNI
D. GLP
ANSWER: B
GDP deflator is used to calculate the _____ rate.
A. defaltion
B. inflation
C. export
D. import
ANSWER: B

The interest paid on money borrowed either from bank or anywhere else is
called _____.
A. interest
B. depreciation
C. cost
D. tax
ANSWER: A

___ is the price paid for the use of money.


A. depreciation
B. cost
C. tax
D. interest
ANSWER: D
_____ interest rate shows the increase in rupees.
A. Nominal
B. Logical
C. Special
D. Interest
ANSWER: A

The ____ interest rate tells us the rise in purchasing power.


A. Real
B. Nominal
C. Logical
D. Special
ANSWER: A

____ is the price paid for the use of money.


A. depreciation
B. cost
C. tax
D. interest
ANSWER: D

Real income is worked out on the basis of _____.


A. Constant price
B. Both
C. Current price
D. None of these
ANSWER: A

The term parity means _____.


A. Equality
B. Quantity
C. Inequality
D. Quality
ANSWER: A

______ refers to the value of money in terms of the quantity of goods it


can buy.
A. Purchasing Power
B. Extra Power
C. Human Power
D. Legancy Power
ANSWER: A

The _____ is a curve shows the short run trade-off between inflation and
unemployment.
A. Philip Curve
B. Serve Curve
C. Phantom Curve
D. Downward Curve
ANSWER: A

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