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Rajasthan Board Class 12 (RBSE) National Income Accounting — practice questions

Explore 12 free National Income Accounting questions in Rajasthan Board Class 12 (RBSE) Economics. Open each question or exercise to read its content, reference answers and available explanation.

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National Income Accounting questions and exercises with answers

Showing questions 1–12 of 12.

Intermediate goods are excluded from national income to avoid the problem of:Read the answer and worked solution →The value of output minus the value of intermediate consumption is called:Read the answer and worked solution →National income can be measured by the product method, the income method and the:Read the answer and worked solution →The fall in the value of fixed capital due to normal wear and tear is called:Read the answer and worked solution →Gross National Product (GNP) equals GDP plus:Read the answer and worked solution →Net National Product (NNP) is obtained by subtracting ___ from GNP:Read the answer and worked solution →The value of national income measured at the prices actually received by factors of production is the:Read the answer and worked solution →Market price equals factor cost plus indirect taxes minus:Read the answer and worked solution →The circular flow of income shows the flow of goods, services and money between:Read the answer and worked solution →In the expenditure method, national income is found by adding consumption, investment, government spending and:Read the answer and worked solution →The branch of economics concerned with aggregates such as GDP, employment and the price level is:Read the answer and worked solution →Income that households actually have available to spend or save, after taxes, is called:Read the answer and worked solution →

Worked practice questions

Intermediate goods are excluded from national income to avoid the problem of:

  1. taxation
  2. double counting
  3. depreciation
  4. inflation
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Correct answer: B. double counting

Counting intermediate goods would inflate output — double counting so only final goods count.

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The value of output minus the value of intermediate consumption is called:

  1. value added
  2. depreciation
  3. disposable income
  4. national debt
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Correct answer: A. value added

Value added = value of output − intermediate consumption.

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National income can be measured by the product method, the income method and the:

  1. ratio method
  2. expenditure method
  3. balance sheet method
  4. sampling method
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Correct answer: B. expenditure method

The three methods: product (value added), income, and expenditure.

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