Ch 2: National Income Accounting and Related Aggregates — Chapter Test
CSEET
📚 Economic and Business Environment
📖 Ch.2 — NATIONAL INCOME ACCOUNTING AND RELATED CONCEPTS
⭐ V1: Previous Year Question (PYQ)
⚡ Free Mode (Answers Locked)
⏱ Duration: 25 Mins
🎯 Total Marks: 20
Passed at: 10 Marks
Max Attempts: 10
Standard ICSI CSEET objective examination for National Income Accounting and Related Aggregates. 20 MCQs with instant scoring and detailed explanations.
📑 Exam Questions
20 Questions • Total 20 MarksQuestion 1:
1 Marks
Which of the following best defines Gross Domestic Product (GDP) at market price?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 2:
1 Marks
The difference between Gross National Product (GNP) at market price and Gross Domestic Product (GDP) at market price is primarily accounted for by:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 3:
1 Marks
Net Domestic Product (NDP) at market price is derived from Gross Domestic Product (GDP) at market price by:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 4:
1 Marks
If National Income (NNP at Factor Cost) is to be derived from Net National Product (NNP) at Market Price, which adjustment is required?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 5:
1 Marks
Which of the following aggregates is commonly referred to as 'National Income'?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 6:
1 Marks
Personal Income is calculated by adjusting National Income for which of the following?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 7:
1 Marks
Disposable Personal Income refers to:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 8:
1 Marks
Nominal GDP measures the value of goods and services produced in an economy using:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 9:
1 Marks
The primary purpose of calculating Real GDP is to:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 10:
1 Marks
If Nominal GDP is ₹2000 billion and Real GDP is ₹1600 billion, what is the GDP Deflator?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 11:
1 Marks
Which of the following is a component of the Value Added Method for measuring National Income?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 12:
1 Marks
The Income Method of measuring National Income sums up:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 13:
1 Marks
Which of the following would NOT be included in the calculation of National Income using the Expenditure Method?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 14:
1 Marks
In a simple two-sector economy model, the two sectors are:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 15:
1 Marks
The addition of which sector transforms a two-sector circular flow model into a three-sector model?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 16:
1 Marks
In a four-sector economy, the leakages from the circular flow of income include:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 17:
1 Marks
Net Factor Income from Abroad (NFIA) is the difference between:
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 18:
1 Marks
To convert Net National Product at Market Price (NNPmp) to Net Domestic Product at Factor Cost (NDPfc), which of the following adjustments are required?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 19:
1 Marks
Which of the following is an example of an intermediate good?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Question 20:
1 Marks
In the circular flow of income, which of the following represents an injection?
🔒 Official Model Solution
Model answers and self-evaluation solutions are available in the Premium Tier & Rankers Plan.
Advertisement