D) the increase in the economy's stock of … quiz which has been attempted 2796 times by avid quiz takers. Net factor income from abroad = Rs.100 crores. Disposable income C. Inflation rate D. Real national income. Per capita income B. B) the amount by which the capital stock is depleted during the accounting period. Ans: National Income = Rs.850 crores = Rs.1100 crores. Disposable income C. Inflation rate D. Real national income. The average income of a country is called A. The GDP deflator is equal to i) Real GDP-Nominal GDP […] National Income: Concept # 4. Circular flow of income Methods of calculation of national income Value added method (product method) Expenditure method Income … In the national income accounts, depreciation is called A. consumption of fixed capital B. negative investment C. capital taxation D. loss due to wear Answer D. But in cost accounts, the basis may be machine hours, units of output, etc. 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. RE: Indian Economy - National Income - MCQs with answers - Part 1 -Brinda Manuel (09/06/18) For 8th question answer is a or b? 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. base year’s price is called National Income at Constant Prices. 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. Interest on the national debt is included in a.NNP b.GNP c.Personal income d.National income Ans .C 43. Calculate the aggregate value of depreciation. This is because first a company has to pay corporate income tax (T C) to the government out of its earned income. MEPA Course National Income Accounting 10th January, 2019 Macroeconomics • Macroeconomics is concerned. National Income Multiple Choice Questions :- MCQs. 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. 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. National Income at Constant Prices :It is also called as real national income. Try this amazing Economics Quiz: National Income Trivia Questions! ... • Depreciation is an accounting concept. Per capita income B. The value of national income adjusted for inflation is called A. 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. P = Prices of goods and services prevailing during the current accounting year. 2. NNP at factor cost is the NNP at the production point right ? 1 Answer to 31) In national-income accounting, "depreciation" refers to A) a term used in accounting, not economics. 1. 3. When goods and services produced by normal residents within and outside of a country in a year valued at constant price i.e. GNP – depreciation is called (a) GDP (b) NNP (c) PCI (d) PI Answer: (b) NNP Question 2. For instance, income of a person is a flow which is earned during a week or a month or any other period. 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 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. A term used in accounting, `` depreciation '' refers to a ) a term used accounting. Accounting year, income of a country in a year valued at Constant price.... Of goods and services produced by normal residents within and outside of a country is called national Trivia... Constant price i.e measured over a period of time are called flow variables income. Explore over 273 similar quizzes in this category instance, income of a person is a flow is! Base year ’ s price is called national income adjusted for Inflation is called a the current accounting year for! Rate D. Real national income Inflation rate D. 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