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Tamil Nadu HSC (Class 12) National Income — practice questions

Explore 14 free National Income questions in Tamil Nadu HSC (Class 12) Economics. Open each question or exercise to read its content, reference answers and available explanation.

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National Income questions and exercises with answers

Showing questions 1–14 of 14.

Sort: GDP includes or excludes?Read the answer and worked solution →Which Nobel laureate first introduced the concept of national income?Read the answer and worked solution →Net National Product at factor cost is also known as:Read the answer and worked solution →Per capita income is obtained by dividing national income by:Read the answer and worked solution →Gross National Product at market prices equals GDP at market prices plus:Read the answer and worked solution →The financial year in India runs from:Read the answer and worked solution →Net Domestic Product is calculated as:Read the answer and worked solution →If net factor income from abroad is deducted from Net National Product, the result is:Read the answer and worked solution →Factor cost is obtained from market price by:Read the answer and worked solution →Disposable income is arrived at by taking personal income and:Read the answer and worked solution →Among these aggregates, which is the largest figure?Read the answer and worked solution →The textbook states that India's national income estimates carry a margin of error of at least:Read the answer and worked solution →The Physical Quality of Life Index is described as a better indicator of:Read the answer and worked solution →In social accounting, public enterprises such as Post Offices and railways are classified under which sector?Read the answer and worked solution →

Worked practice questions

Sort: GDP includes or excludes?

Read exercise and reference answers
Items
  1. Item
    Sale of a new car
    Answer
    left
  2. Item
    Restaurant meal
    Answer
    left
  3. Item
    Construction of a new house
    Answer
    left
  4. Item
    Resale of a used car
    Answer
    right
  5. Item
    Stock market transactions
    Answer
    right
  6. Item
    Unpaid housework
    Answer
    right
Categories
Left
Included
Right
Excluded

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Which Nobel laureate first introduced the concept of national income?

  1. Alfred Marshall
  2. Simon Kuznets
  3. Ragnar Frisch
  4. Paul Samuelson
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Correct answer: B. Simon Kuznets

1. National income provides a comprehensive measure of the economic activities of a nation and denotes the country's purchasing power. 2. The textbook states that Nobel laureate Simon Kuznets first introduced the concept of national income. 3. A boxed note in the same chapter describes him as the creator of GDP in 1932. 4. Marshall and Samuelson appear in the chapter for their definitions and epigraph respectively, and Frisch belongs to Chapter 1 for coining micro and macro. _Source: TN HSC Class 12 Economics (Samacheer Kalvi, Govt of Tamil Nadu), Ch 2 "National Income", §2.1_

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Net National Product at factor cost is also known as:

  1. Domestic income
  2. Per capita income
  3. National income
  4. Personal income
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Correct answer: C. National income

1. Net National Product at market price measures the market value of output. 2. NNP at factor cost is instead the total of income payments made to the factors of production. 3. It is obtained by deducting indirect taxes from NNP at market price and adding subsidies. 4. The textbook states that this figure, NNP at factor cost, is what is known as national income. _Source: TN HSC Class 12 Economics (Samacheer Kalvi, Govt of Tamil Nadu), Ch 2 "National Income", §2.4.4_

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