National Income and Related Aggregates Test

Result

National Income and Related Aggregates Test - 10

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Weekly Quiz Competition

Question 1
1 / -0

Can the net factor income earned from abroad be positive?

A
Yes

B
No

C
Never

D
Can’t say

Solution

If income earned from abroad by citizens is greater than income earned by non residents in the Concerned country.
Question 2
1 / -0

Can the net indirect taxes be positive?

A
Yes

B
No

C
Never

D
Can’t say

Solution

If indirect taxes are greater than subsidies.
Question 3
1 / -0

Can the change in inventories be in positive?

A
Yes

B
No

C
Never

D
Can’t say

Solution

If current period's ending inventory is greater than last Period's ending inventory
Question 4
1 / -0

Which of the following method/s is/are used to calculate national income in India?

A
Expenditure method

B
Production method

C
Income method

D
All of these
Question 5
1 / -0

Net income from property and entrepreneurship is a component of

A
Net factor income from abroad.

B
Net investment.

C
Depreciation

D
Gross investment

Solution

It's as per the definition .
Question 6
1 / -0

Stocks of fish in open seas and rivers is

A
Included in net income from abroad .

B
Excluded from net income from abroad.

C
Excluded from national income .

D
Included in national income .

Solution

A necessary condition for an activity to be treated as productive is that it must be carried out under the instigation, control and responsibility of an institutional unit. Stocks of fish in open seas are not produced under the supervision of an institutional unit.
Question 7
1 / -0

Second hand goods are

A
Excluded from the GDP of a country .

B
Included in depreciation .

C
Included in net income from abroad.

D
Included in the GDP of a country.

Solution

Second hand goods don't add to the current flow of goods in an economy. They have been calculated in the GDP of a previous year. Counting them in GDP would lead to double counting.
Question 8
1 / -0

Stock is a

A
Hypothetical concept

B
Dynamic concept

C
Static concept

D
Non economic concept

Solution

Stocks donot pertain to changes like flows do.
Question 9
1 / -0

Flow is a concept which is

A
is measured at a particular period of time.

B
is measured after a particular point of time.

C
is measured at a particular point of time.

D
Cannot be measured at a particular point of time.

Solution

Flows always pertain to specific period of time in economics.
Question 10
1 / -0

Flow is a

A
Dynamic concept

B
Hypothetical concept

C
Static concept

D
Non economic concept

Solution

It refers to periodic changes in stock.

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Re-Attempt Weekly Quiz Competition

National Income and Related Aggregates Test - 10

Result

National Income and Related Aggregates Test - 10

Score

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Rank

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SHARING IS CARING

Question 1

Yes

No

Never

Can’t say

Solution

Question 2

Yes

No

Never

Can’t say

Solution

Question 3

Yes

No

Never

Can’t say

Solution

Question 4

Expenditure method

Production method

Income method

All of these

Question 5

Net factor income from abroad.

Net investment.

Depreciation

Gross investment

Solution

Question 6

Included in net income from abroad .

Excluded from net income from abroad.

Excluded from national income .

Included in national income .

Solution

Question 7

Excluded from the GDP of a country .

Included in depreciation .

Included in net income from abroad.

Included in the GDP of a country.

Solution

Question 8

Hypothetical concept

Dynamic concept

Static concept

Non economic concept

Solution

Question 9

is measured at a particular period of time.

is measured after a particular point of time.

is measured at a particular point of time.

Cannot be measured at a particular point of time.

Solution

Question 10

Dynamic concept

Hypothetical concept

Static concept

Non economic concept

Solution

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