Top 50+ Solved National Income accounting MCQ Questions Answer
Q. Piyush’s mother is a teacher. She also teaches Piyush. How would you treat this whitecalculating national income and domestic income ?
a. it will be included in the national income, but not in the domestic income.
b. it will be included in the domestic income, but not in the national income.
c. it will be included in domestic income as well as national income.
d. it will neither be included in the domestic income nor in the national income.
Q. Goods which are not used in the production of other goods are called:
a. capital goods
b. consumption goods
c. producer goods
d. intermediate goods
Q. Depreciation is the:
a. loss of vale of fixed assets in use due to normal wear and tear
b. loss of value of fixed assets in use due to normal rate of accidental damages
c. loss of value of fixed assets in the due to foreseen obsolescence
d. all of these
Q. Which of following is not included in national income ?
a. factor income
b. rent
c. operating surplus
d. transfer income
Q. Which of following is not an intermediate goods?
a. wheat
b. gold
c. service of doctor
d. sand and bricks
Q. Which of following is not a final good?
a. machinery purchased by dealer
b. machinery purchased by a factory
c. use of petrol
d. washing machine
Q. Which of following is not a part of national income?
a. depreciation
b. net factor income from abroad
c. operating surplus
d. mixed income
Q. Product method of calculating national income is also known as:
a. income method
b. value added method
c. expenditure method
d. distribution method
Q. Transfer payments refer to payments, which are made:
a. without any exchange of goods and services
b. to workers on transfer from one job to another
c. as compensation to employees
d. none
Q. National Income differs from Net National Product at market price by the amount of:
a. current transfers from rest of the world
b. net indirect taxes (difference between indirect tax and subsidy)
c. national debt interest
d. it does not differ
Q. Net national product at factor cost is also known as:
a. net domestic product
b. gross national product
c. national income
d. personal income
Q. In GNP calculation which of the following should be excluded?
a. rental incomes
b. interest payments
c. dividends
d. government transfer payment
Q. National Income differs from Net National Product at market price by the amount of:
a. current transfers from rest of the world
b. net indirect taxes
c. national debt interest
d. it does not differ