Class 12 Commerce National Income Accounting — practice questions
13 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Class 12 Commerce National Income Accounting in the app →Gross Domestic Product (GDP) is the market value of all final goods and services produced:Intermediate goods are excluded from national income to avoid the problem of:The value of output minus the value of intermediate consumption is called:National income can be measured by the product method, the income method and the:The fall in the value of fixed capital due to normal wear and tear is called:Gross National Product (GNP) equals GDP plus:Net National Product (NNP) is obtained by subtracting ___ from GNP:The value of national income measured at the prices actually received by factors of production is the:Market price equals factor cost plus indirect taxes minus:The circular flow of income shows the flow of goods, services and money between:In the expenditure method, national income is found by adding consumption, investment, government spending andThe branch of economics concerned with aggregates such as GDP, employment and the price level is:Income that households actually have available to spend or save, after taxes, is called: