National Income MCQ

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National Income MCQ

National Income MCQ

41. 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

42. Depreciation is the:

A. Loss of vale of fixed assets in use due to normal wear and tear

B. Loss of value of fixed assets in use due to normal rate of accidental damages

C. Loss of value of fixed assets in the due to foreseen obsolescence

D. All of these

43. Which of following is not included in national income?

A. Factor income

B. Rent

C. Operating surplus

D. Transfer income

44. Which of following is not a capital good?

A. Use of Machine tools

B. Raw Material

C. Advocate’s Services

D. Heavy Machinery

45. Which of following is not an intermediate goods?

A. Wheat

B. Gold

C. Service of Doctor

D. Sand and Bricks

46. Which of following is not a final good?

A. Machinery purchased by dealer

B. Machinery purchased by a factory

C. Use of petrol

D. Washing machine

47. Which of following is not a part of national income?

A. Depreciation

B. Net factor income from abroad

C. Operating surplus

D. Mixed income

48. Product method of calculating national income is also known as:

A. Income method

B. Value added method

C. Expenditure method

D. Distribution method

49. Transfer payments refer to payments, which are made:

A. Without any exchange of goods and services

B. To workers on transfer from one job to another

C. As compensation to employees

D. None

50. National Income differs from Net National Product at market price by the amount of:

A. Current transfers from rest of the world

B. Net Indirect Taxes (difference between Indirect tax and subsidy)

C. National debt interest

D. it does not differ

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