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#### National Income One Mark Questions

12th Standard EM

Reg.No. :
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Economics

Time : 00:45:00 Hrs
Total Marks : 25
20 x 1 = 20
1. Which is the largest figure?

(a)

Disposable income

(b)

Personal Income

(c)

NNP

(d)

GNP

2. Tertiary sector is also called as __________sector

(a)

Service

(b)

Income

(c)

Industrial

(d)

Production

3. Per capita income is obtained by dividing the National income by__________

(a)

Production

(b)

Population of a country

(c)

Expenditure

(d)

GNP

4. NNP stands for___________

(a)

Net National Product

(b)

National Net product

(c)

National Net Provident

(d)

National Net Provident

5. When net factor income from abroad is deducted from NNP, the net value is__________

(a)

Gross National Product

(b)

Disposable Income

(c)

Net Domestic Product

(d)

Personal Income

6. The value of NNP at production point is called_________

(a)

NNP at factor cost

(b)

NNP at market cost

(c)

GNP at factor cost

(d)

Per capita income

7. PQLI is the indicator of_____________

(a)

Economic growth

(b)

Economic welfare

(c)

Economic welfare

(d)

Economic development

8. The largest proportion of national income comes from___________

(a)

Private sector

(b)

Local sector

(c)

Public sector

(d)

None of the above

9. GNP stands for

(a)

Net National Product

(b)

Gross Net Product

(c)

Gross Net Provident

(d)

Gross National Product

10. GDP stands for

(a)

Gross Domestic Product

(b)

Gross Direct Product

(c)

Gross Domestic Provident

(d)

Gross Derived Product

11. Formula for calculating NNP at factor cost.

(a)

$\frac{Nominal\ GDP}{Real\ GDP}\times 100$

(b)

NNP at Market Prices - Indirect taxes + Subsidies.

(c)

GNP - Depreciation allowance

(d)

Output = Income = Expenditure

12. Value of output =

(a)

Sales + Change in stock

(b)

Sales - Change in stock

(c)

Sales $\div$ Change in stock

(d)

Sales x Change in stock

13. Percapita Income =

(a)

National Income - Population

(b)

Personal Income

(c)

National Income $\div$ Population

(d)

National Income x Population

14. GDP calculate at market price is known as __________.

(a)

GDP at factor price

(b)

NDP at factor price

(c)

GNP at factor price

(d)

GDP at Market price

15. GDP by expenditure at ________ price.

(a)

Factor price

(b)

Market price

(c)

Real price

(d)

All the above

16. ______ income is never equal to the national income.

(a)

Disposal Income

(b)

Percapita Income

(c)

Personal Income

(d)

GDP Deflate

17. _________ Income is the buying power of nominal income.

(a)

Gross Income

(b)

Real Income

(c)

Percapita Income

(d)

National Income

18. Output = Income = _________

(a)

Price

(b)

Expenditure

(c)

Income

(d)

None of these

19. _________ reflects the economic welfare of the country.

(a)

Personal Income

(b)

Percapita Income

(c)

Disposal Income

(d)

All of these

20. __________ Framework is useful for economists as well as policy makers.

(a)

Social Accounting

(b)

Statistics

(c)

Capital Gains

(d)

None of these

21. 5 x 1 = 5
22. GDP by expenditure method at market prices

23. (1)

GNP - Depreciation allowance

24. Net domestic product

25. (2)

C+I+G+(X-M)

26. NNP

27. (3)

GDP -Depreciation

28. Disposable income

29. (4)

Personal income - Direct tax

30. GDP - deflator

31. (5)

$\frac{Nominal GDP}{Real GDP}\times100$