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1. Read the following figure carefully and choose the correct pair from the alternatives given below:

 
 
 
 

2. Which of the following item will not be included while calculating national income
by the value added method?

 
 
 
 

3. Foreign embassies in India are a part of India’s:

 
 
 
 

4. Product method of calculating national income is also known as:

 
 
 
 

5. Which of the following is a Macroeconomic study?

 
 
 
 

6. Foreign embassies in India are a part of India’s:

 
 
 
 

7. Goods purchased for satisfaction of wants are:

 
 
 
 

8. ___________ are those goods which require further processing or must be resale in the same year.

 
 
 
 

9. Statement 1: Net investment is a stock concept.

Statement 2 : Capital is a flow concept.

 
 
 
 

10. Which of the following item will not be included while calculating NDPMP?

 
 
 
 

11. Assertion (A): Machine purchased is always a final good.

Reason (R): Final goods directly satisfy the needs of consumers or investment on fixed assets.

 
 
 
 

12. In the production of sugar, sugarcane is a/an:

 
 
 
 

13. Statement 1: JM Keynes was a British economist.

Statement 2: JM Keynes was actively involved in international diplomacy during the years following the First World War.

 
 
 
 

14. In which case net indirect taxes be equal to zero?

 
 
 
 

15. Statement 1: Macroeconomics is a study of individual markets of demand and supply and the players or the decisionmaker seen as trying to maximise their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers).

Statement 2: Even a large company is ‘micro’ in the sense that it had to act in the interest of its own shareholders and not necessarily in the interest of the country as a whole.

 
 
 
 

16. Which of the following is not a factor payment?

 
 
 
 

17. Which of the following item will not be included while calculating national income by income method?

 
 
 
 

18. Which of the following is/are economic agents?

 
 
 
 

19. Suppose, following data is presented for an imaginary economy:

Sr. No Particulars Amount ( in lakhs)
(i)

(ii)

(iii)

(iv)

(v)

 Depreciation

Domestic Sales

Change in Stocks

Exports

Single use producer goods

 20

200

(–) 10

10

120
 
 
 
 

20. The study of groups and broad aggregates of the economy is known as __________ .

 
 
 
 

21. Read the following figure carefully and choose the correct pair from the alternatives given below:

 
 
 
 

22. Choose the correct alternative to be filled in the given blank.

 
 
 
 

23. Goods purchased for the following purpose are final goods:

 
 
 
 

24. Inventory is a __________ concept whereas the change in inventory is a __________ concept.

 
 
 
 

25. Read the following figure carefully and choose the correct pair from the alternatives given below:

 
 
 
 

26. Which of the following leads to depreciation?

 
 
 
 

27. Flow of Goods and Services and factors of production across different sectors in a barter economy is known as:

 
 
 
 

28. Statement 1: Market price is the difference between factor cost and net subsidies.

Statement 2: Depreciation is added to net investment to convert into gross investment.

 
 
 
 

29. Net National Product at Factor cost is called:

 
 
 
 

30. NI = Domestic Income, when:

 
 
 
 

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