GNP – depreciation is called (a) GDP (b) NNP (c) PCI (d) PI Answer: (b) NNP Question 2. National Income Multiple Choice Questions :- MCQs. Financial accounts regard depreciation as period cost which varies with the lapse of time, whereas in cost accounts depreciation is regarded as variable expense. The average income of a country is called A. Calculate the aggregate value of depreciation. MEPA Course National Income Accounting 10th January, 2019 Macroeconomics • Macroeconomics is concerned. RE: Indian Economy - National Income - MCQs with answers - Part 1 -Sk (08/30/18) Yes GNP is GDP of a country added with its income from abroad. National Income Accounting and related concepts -MCQs ... Q.17 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. Also explore over 273 similar quizzes in this category. When goods and services are produced in a year valued at current years prices is called (a) Real GDP (b) GDP at constant prices ... 40.The smallest national income accounting aggregate is usually ... 42. But in cost accounts, the basis may be machine hours, units of output, etc. Disposable income C. Inflation rate D. Real national income. Ans: National Income = Rs.850 crores = Rs.1100 crores. Kerala Plus Two Macroeconomics Chapter Wise Questions and Answers Chapter 2 National Income Accounting Plus Two Economics National Income Accounting One Mark Questions and Answers Question 1. P = Prices of goods and services prevailing during the current accounting year. Per capita income B. D) the increase in the economy's stock of … Per capita income B. PART B-INTRODUCTORY MACRO ECONOMICS Unit VI: NATIONAL INCOME AND RELATED AGGREGATES: KEY CONCEPTS Macro Economics: Its meaning Consumption goods, capital goods, final goods, intermediate goods, stock and flow, gross investment and depreciation. 2. Try this amazing Economics Quiz: National Income Trivia Questions! base year’s price is called National Income at Constant Prices. The GDP deflator is equal to i) Real GDP-Nominal GDP […] RE: Indian Economy - National Income - MCQs with answers - Part 1 -Brinda Manuel (09/06/18) For 8th question answer is a or b? The value of national income adjusted for inflation is called A. Personal Income: Although national income is the sum total of all individuals’ personal income, it is observed that received income is smaller than the earned income. 1 Answer to 31) In national-income accounting, "depreciation" refers to A) a term used in accounting, not economics. 3. Disposable income C. Inflation rate D. Real national income. Interest on the national debt is included in a.NNP b.GNP c.Personal income d.National income Ans .C 43. When goods and services produced by normal residents within and outside of a country in a year valued at constant price i.e. National Income at Constant Prices :It is also called as real national income. B) the amount by which the capital stock is depleted during the accounting period. quiz which has been attempted 2796 times by avid quiz takers. NNP at factor cost is the NNP at the production point right ? For instance, income of a person is a flow which is earned during a week or a month or any other period. This is because first a company has to pay corporate income tax (T C) to the government out of its earned income. ... • Depreciation is an accounting concept. 1. The value of Indirect taxes – Subsidies was Rs 150 crores and National Income was Rs 850 crores. ... whose magnitude can be measured over a period of time are called flow variables. C) net investment. 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