NCERT Mcqs Questions Class 12 Economics-II Chapter 2 With Easy PDF

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NCERT Mcqs Questions Class 12 Economics-II Chapter 2 With Easy PDF, Mcqs Questions Class 12 Economics-II Chapter 2, Mcqs Questions Class 12 Economics-II Chapter 2 With Easy PDF


NCERT Mcqs Questions Class 12 Economics-II Chapter 2 With Easy PDF


Class12th 
Chapter Name National income Accounting
Chapter numberChapter 2
Part B
BoardCBSE
Book NCERT
SubjectEconomics
Medium English
Study MaterialsMCQs
Download PDFClass 12 Economics Chapter 2 PDF

NCERT Mcqs Questions Class 12 Economics II Chapter 2 With Easy PDF

NCERT Mcqs Questions Class 12 Economics-II Chapter 2 With Easy PDF


1. To find out the value addition of various production units, they include-

(a) Price of intermediate goods only

(b) Value of final goods and services

(c) Price of final goods only

(d) Price of all goods

2. GNP can measure wastage-

(a) Average price level of specific goods and services

(b) Average price level of all goods and services

(c) price rise

(d) decrease in price

3.andNational income and domestic factor income are equal when– 

(a) net factor income earned from abroad is zero

(b) Happiness export is zero

(c) net factor income earned from abroad is negative

(d) net exports are positive

4. Trading of financial assets-

(a) is included in GNP.

(b) is not included in GNP

(c) neither of a nor b

(d) both (a) and (b)

5. Which of the following is not a part of gross investment– 

(a) business investment

(b) Government investment

(c) Housing investment

(d) Buying and selling of old goods within the domestic border

6. National disposable income is-

(a) NNP at mp + net current transfer payments from abroad

(b) GDP + NFIA 

(c) NNP at fc + net current transfer payments from abroad

7. The book on national income and its components was written by

(a) Simon Kuznets

(b) Richard Stone

(c) J. M. Keynes

(d) David Ricardo

8. The standard form of national income accounting was prepared by-

(a) Richard Stone

(b) Simon Kuznets

(c) J. M. Keynes

(d) Adam Smith

9. National income was written in British India-

(a) B. C. Mahalanovis

(b) D.R. Gadgil

(c) V.K. R.S. V. Rao

(d) Ambedkar

10. The total monetary value of all goods and services produced within the country’s borders in a year is called .

(a) Gross Domestic Product (GDP)

(b) Net Domestic Product (NDP)

(c) National Income

(d) Personal Income

11. If goods and services are to be valued at the current price of the year, it will be valued at ………

(a) fixed price

(b) current price

(c) Cost price

(d) abnormal price

12. Net exports will be negative if.. 

(a) exports are more than imports

(b) Exports and imports are equal

(c) Imports are more than exports

(d) none of the above

13. Sale of second hand goods is not included in GDP

(a) It is not a product of the current year

(b) These goods are available at low rates

(c) These goods are less useful

(d) These items have a short life

14. The commission received by the broker on the sale of second hand goods is included in the gross domestic product.It is included because…………

(a) It is receipt of commission in cash

(b) It is income from services in the current category.

(c) The services of a broker are very important

(d) Commission is added to the price of goods

15. Indirect taxes are not included in national income because

(c) It affects the price of the commodity

(d) It is the income of the government

16. Income from theft, dacoity, smuggling, pick-pocketing etc. is not included in national income.is done because

(a) It is not the result of flow of income

(b) These are illegal activities

(c) These are antisocial activities

(d) Income is easily obtained.

17. Pension and non-employment allowances are ……….

(a) Transfer income

(b) income generated

(c) Mixed income

(d) income received

18. Income from black market is not included in national income because

(a) It is low value income

(b) This income is unknown.

(c) It is illegal income

(d) Income tax is not payable on this income

19. To find out the Gross Domestic Product at market price, ………. is subtracted from the Gross National Product at market price.

(a) Depreciation

(b) Net indirect tax

(c) Net income from abroad

(d) none of the above

20. For the calculation of national income at factor cost is used-

(a) working method

(b) Product method

(c) working method

(d) Final Expenditure Method

21. If indirect taxes are subtracted from Gross National Product at market price and subsidies are included, we get

(a) Gross National Product at factor cost

(b) National product at market price

(c) Net National Product at factor cost

(d) personal income

22. Product method is used to measure the contribution of agriculture sector to national income because …….

(a) Agricultural products are available at given prices.

(b) The number of farmers is very large.

(c) Agriculture is a broad sector

(d) everyone can use the produce produced by agriculture

23. Price rise is determined by ……. 

(a) cost price + profit

(b) selling price loss

(c) serial price + intermediate goods

(d) Selling price – cost of intermediate goods

24. Income pattern of financial sector like- Banks, Corporations, Companies etc.It is used to do because……….

(a) This sector fetches a huge income

(b) Data related to income is easily obtained.

(c) This sector has more income than expenditure

(d) These organizations are bigger in size.

25. The profit of .. is distributed as dividend.

(a) private enterprise

(b) Public company

(c) Partnership firm

(d) Government Institutions

26. Final expenditure method has very limited use in the calculation of national income, because-

(a) All the income is not spent

(b) Information related to expenditure is incomplete

(c) Expenditure is very high

(d) income less than expenditure

27. National income is calculated from…..

(a) Income method

(b) Product method

(c) Expenditure method

(d. All of the above

28. Non-wage income includes income from ……. 

(a) Rent

(b) interest

(c) profit

(d. All of the above

29. Finance for managing the finance of final expenditure is received from …….

(a) household sector

(b) Firm sector

(c) Government Sector

(d. All of the above


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