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National Income Model Question Paper

12th Standard EM

    Reg.No. :
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Economics

Time : 02:00:00 Hrs
Total Marks : 60
    10 x 1 = 10
  1. Net National product at factor cost is also known as

    (a)

    National Income

    (b)

    Domestic Income

    (c)

    Per capita Income

    (d)

    Salary

  2. Tertiary sector is also called as __________sector

    (a)

    Service

    (b)

    Income

    (c)

    Industrial

    (d)

    Production

  3. NNP stands for___________

    (a)

    Net National Product

    (b)

    National Net product

    (c)

    National Net Provident

    (d)

    National Net Provident

  4. The average income of the country is________

    (a)

    Personal Income

    (b)

    Per capita income

    (c)

    Inflation Rate

    (d)

    Disposal Income

  5. The largest proportion of national income comes from___________

    (a)

    Private sector

    (b)

    Local sector

    (c)

    Public sector

    (d)

    None of the above

  6. A country which has no economic relations with other countries in termed as

    (a)

    Open economy

    (b)

    Closed economy

    (c)

    Planned economy

    (d)

    Command economy

  7. 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

  8. Net Domestic = GDP - _________.

    (a)

    NNP

    (b)

    NDP

    (c)

    GNP

    (d)

    Depreciation

  9. The difference between value of exports and imports of goods and services is known as

    (a)

    X-M

    (b)

    G+I

    (c)

    X x M

    (d)

    All the above

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

    (a)

    Gross Income

    (b)

    Real Income

    (c)

    Percapita Income

    (d)

    National Income

  11. 5 x 1 = 5
  12. Product Method

  13. (1)

    Economic Welfare

  14. Expenditure method

  15. (2)

    Industry sector

  16. Secondary sector

  17. (3)

    Net National Product

  18. NNP

  19. (4)

    Double counting

  20. PQLI

  21. (5)

    Outlay method

    2 x 2 = 4
  22. Concepts of National Income
    (a) Gross National Product
    (b) Gross Domestic Product
    (c) Net National Product
    (d) Output = Income = Expenditure

  23. Per Capita Income
    (a) The total income of a country
    (b) The average income of a person
    (c) National Income / Population
    (d) GDP / Population

  24. 8 x 2 = 16
  25. Define National Income.

  26. What is the difference between NNP and NDP?

  27. Trace the relationship between GNP and NNP

  28. Define GDP deflator

  29. Write the formula for calculating NDP.

  30. What do you mean by Real Income?

  31. What is Gross Domestic Product?

  32. What are capital gains?

  33. 5 x 3 = 15
  34. Differentiate between personal and disposable income.

  35. Give short note on Expenditure method

  36. List out the uses of national income

  37. What is Depreciation?

  38. What are the steps involved in income method?

  39. 2 x 5 = 10
  40. Explain the importance of national income

  41. Discuss the importance of social accounting in economic analysis

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