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Test: National Income Accounting - 1


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10 Questions MCQ Test Indian Economy for UPSC CSE | Test: National Income Accounting - 1

Test: National Income Accounting - 1 for UPSC 2022 is part of Indian Economy for UPSC CSE preparation. The Test: National Income Accounting - 1 questions and answers have been prepared according to the UPSC exam syllabus.The Test: National Income Accounting - 1 MCQs are made for UPSC 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: National Income Accounting - 1 below.
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Test: National Income Accounting - 1 - Question 1

This a MCQ (Multiple Choice Question) based practice test of Chapter 2 - National Income Accounting of Economics of Class XII (12) for the quick revision/preparation of School Board examinations

Q  Explain the meaning of non-market activities

Detailed Solution for Test: National Income Accounting - 1 - Question 1

Non market Activities -
1) Non market activities are those activities primarily undertaken for the purpose of self-consumption. These activities don't give profit as they are for self consumption.
2) The output of the non market activities is neither for sale in the market nor for earning profit. These activities can be for consumption and processing of primary products for one's own use.
3) Example : A farmer cultivates primarily for himself and his family and not for earning profit.

Test: National Income Accounting - 1 - Question 2

Nominal GNP is same as

Detailed Solution for Test: National Income Accounting - 1 - Question 2

GNP Deflator: It is clear that nominal GNP usually exceeds real GNP because of inflation. Greater the difference between nominal and real GNP, greater is the inflation. It may happen that GNP data at constant prices may not be available in the economy.

Test: National Income Accounting - 1 - Question 3

Real GNP is same as

Test: National Income Accounting - 1 - Question 4

Real flow is the flow of

Detailed Solution for Test: National Income Accounting - 1 - Question 4

Real flow is the exchange of goods and services between household and firms whereas money flow is the monetary exchange between two sectors. In real flow household sector supplies raw material, land, labour, capital and enterprise to firms and in return firms sector provides finished goods and services to household sector. Whereas in money flow, firm sector gives remuneration in the form of money to household sector a wages and salaries, rent, interest etc.

Test: National Income Accounting - 1 - Question 5

Money flow is the flow of

Detailed Solution for Test: National Income Accounting - 1 - Question 5

Inflow and Outflow of Money is called Money Flow. It includes factor payment and factor receipt.

Test: National Income Accounting - 1 - Question 6

State which one of the following is true.

Test: National Income Accounting - 1 - Question 7

Which of the following in an example of macro economics

Detailed Solution for Test: National Income Accounting - 1 - Question 7

Inflation means roaming of money that goes from one hand to other as macro economics deals with whole economy the money in this form passes from one hand to another.

Test: National Income Accounting - 1 - Question 8

Microeconomics is different from macroeconomic s as

Test: National Income Accounting - 1 - Question 9

Intermediate goods are those

Test: National Income Accounting - 1 - Question 10

Final goods are those

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