I choose the correct answers 5*1=5
1. The study of national income is related to
a) Micro economics b)macro economics
c)both micro and macro d)none of the above
2. NNP =GNP………………
a)deduction b)depreciation
c)investment d)none of the above
3. the value of GDP at the current prevailing price is
a)real GDP b)GDP at factor cost
c) nominal GDP d)NDP
4. By deducting undistributed profit from national income we get
a) PDI b)personal income
c) private income d) subsidies
5. measuring the sum total of all factor payments will be called
a)product method b)expenditure method
c)income method d)none of the above
II fill in the blanks 5*1=5
[ stock,final, depreciationcost, inventory, negative , valueadded ]
1. …………………….goods will not pass through any more stages of production
2. …………………..are defined at a particular point of time.
3. ……………………….is an annual allowance for wear and tear of a capital good.
4. ……………………is a stock variable.
5. Pollution is an example for ………………..externalities.
III Match the following 5*1=5
A B
1. Labour non monetary exchange
2. GDP personal disposable income
3. Inventory gross domestic product
4. PDI stock variable
5. Domestic service wages
IV Answer the following questions in one word sentence each 5*1=5
1. What do you mean by final goods?
2. Expand CPI?
3. Expand GNPMP?
4. Give the meaning of GDP?
5. Give the meaning of depreciation?
6. Write two types of externalities?
V answer the following questions in 2 sentences each (any 5) 5*2=10
1. What all four factors of production mention its rewards?
2. Distinguish between stock and flow. Give example?
3. Mention three methods of measure GDP?
4. Write the equation of GDP MP and GDPFC ?
5. Write the difference between nominal and real GDP?
6. Write different types of macroeconomic identities?
VI answer the following questions in 8 to 12 sentences for each (any 2) 2*5=10
1. Explain circular flow of income of an economy?
2. Write a note on externalities?
3. Explain unplanned accumulation and decumulation of inventories?
