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State PSC Organisations — practice questions — page 2

Explore 267 free Organisations questions in State PSC Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Organisations questions and exercises with answers

Showing questions 31–60 of 267.

Who wrote An Enquiry into the Nature and Cause of the Wealth of Nations?Read the answer and worked solution →A good meant for final use that passes through no more stages of production is a:Read the answer and worked solution →Steel sheets used to make cars and copper used for utensils are examples of:Read the answer and worked solution →Tools, implements and machines used in production are called:Read the answer and worked solution →Televisions and automobiles, durable goods bought for final consumption, are called:Read the answer and worked solution →The common measuring rod used to add up different goods and services is:Read the answer and worked solution →Value of a firm's output minus the value of intermediate goods it used is its:Read the answer and worked solution →Depreciation of capital is also known as:Read the answer and worked solution →Gross value added minus depreciation gives:Read the answer and worked solution →The stock of unsold finished or semi-finished goods a firm carries into the next year is its:Read the answer and worked solution →Addition to the stock of capital of a firm is known as:Read the answer and worked solution →How many major categories of investment are there?Read the answer and worked solution →GDP by the product method is the sum of what across all firms?Read the answer and worked solution →By the expenditure method, GDP equals C plus I plus G plus X minus:Read the answer and worked solution →Among the expenditure components of GDP, which is the most unstable?Read the answer and worked solution →Which body replaced GDP at factor cost with GVA at basic prices in January 2015?Read the answer and worked solution →Land revenue and stamp and registration fees are examples of:Read the answer and worked solution →GVA at basic prices plus net product taxes gives GVA at:Read the answer and worked solution →GDP plus net factor income from abroad equals:Read the answer and worked solution →GNP minus depreciation equals:Read the answer and worked solution →NNP at market prices minus net indirect taxes is called:Read the answer and worked solution →Personal income minus personal tax and non-tax payments gives:Read the answer and worked solution →Catch the final goodsRead the answer and worked solution →Pop the income aggregatesRead the answer and worked solution →Run the GDP exampleRead the answer and worked solution →Slice the GDP methodsRead the answer and worked solution →Stock or flowRead the answer and worked solution →Sort the GDP methodsRead the answer and worked solution →Type the numberRead the answer and worked solution →National income bingoRead the answer and worked solution →

Worked practice questions

Who wrote An Enquiry into the Nature and Cause of the Wealth of Nations?

  1. Adam Smith
  2. John Keynes
  3. Karl Marx
  4. David Ricardo
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Correct answer: A. Adam Smith

1. He was a pioneer of economics. 2. Adam Smith wrote the Wealth of Nations. 3. It asked what makes nations rich or poor. _Source: syllabus Introductory Macroeconomics, Chapter 2, National Income Accounting._

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A good meant for final use that passes through no more stages of production is a:

  1. Input good
  2. Final good
  3. Raw material
  4. Intermediate
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Correct answer: B. Final good

1. Once sold it leaves the active economic flow. 2. Such an item is a final good. 3. Its use, not its nature, makes it final. _Source: syllabus Introductory Macroeconomics, Chapter 2, National Income Accounting._

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Steel sheets used to make cars and copper used for utensils are examples of:

  1. Intermediate goods
  2. Final consumer goods
  3. Consumer durables
  4. Capital machines
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Correct answer: A. Intermediate goods

1. They are inputs for other products. 2. They are intermediate goods. 3. They are not counted in GDP directly. _Source: syllabus Introductory Macroeconomics, Chapter 2, National Income Accounting._

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