NCERT_CLASS_12_ECONOMICS_MACROECONOMICS

1. Take the following sentence into consideration.

1. Gross Domestic Product (GDP) is the total worth of all final goods and
   services produced within a nation's borders in a given year.
2. The GDP is adjusted for the weight of 'depreciation' to get the Net
   Domestic Product (NDP).
3. A country's GDP plus its 'revenue from outside' equals its Gross
   National Product (GNP).
4. An economy's Net National Product (NNP) is the Gross National Product
   (GNP) minus the loss due to 'depreciation.'

Select the incorrect response.

2. Take a look at the following statement on Gross Domestic Product (GDP)

1. When depreciation is added to Net National Product (NNP), the result is
   Gross Domestic Product (GDP).
2. When depreciation is subtracted from Net National Product (NNP), the
   result is Gross Domestic Product (GDP).

Select the correct response.

3. Take a look at the following statement.

1. GDP is computed by combining national private consumption, gross
   investment, government spending, and the trade balance (exports-minus-imports).
2. Private remittances: This is the net result of money that only
   Indian nationals working outside of India send home.
3. Interest on External Loans: The net result of interest payments
   in advance.

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4. hink about the following statement:

1. On the demand side, GDP is calculated by adding all of the economy's expenditures.
2. On the supply side, the gross value added is calculated by adding
   the value added by various sectors of the economy (GVA).
3. Gross domestic product and Gross value added can never be equal.
4. While GDP is a useful metric for comparing economies,  Gross value
   added is a better metric for comparing different sectors within the economy.

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5. Which of the following terms indicates correct example of durable goods ?

1. automobiles
2. furniture
3. household appliances.
4. mobile homes.

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6. Think about the following statement:

1. The total value of the end goods is added to the total value of
   the intermediate goods.
2. Wheat is classified as an intermediate good because it is found in
   the final result of a variety of foods and non-food items.
3. separately Double counting can occur when the value of intermediary
   items is counted in the final goods.

Select the correct response.

7. match the following 

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8. Due to use, wear and tear, or obsolescence, the monetary value of
an object decreases with time. is referred to as.

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9. Take a look at the following statement.

1. In a simple economy, households merely offer factor services to businesses.
2. In a simple economy, firms merely provide commodities and services to households.
3. The expenditure approach is a technique of computing GDP that takes only consumption
   and government spending into account.

Select the correct response.

10. with reference to calculating national income consider
the following statement .

1. Product method
2. Value Added Method
3. Expenditure Method
4. Income Method

Choose the correct method to calculate national income

11. Assume there is a company in the market that starts with a list
of 100 phones, believes it will sell 1000 phones in the following year,
and manufactures 1000 phones and sells 100 phones. Expects to preserve
it as a reserve. phones, on the other hand, decreased unexpectedly during
the year, with the company only selling 600 phones. As a result, the company
is left with 400 unsold phones. The company has 400+100=500 phones at the end
of the year. The 400 percent increase in inventories will be an example of this.

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12. consider  statement regarding Central Statistics Office (CSO),?

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13. The wages earned by an Indian citizen working in the United
States will be included in the.

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14. Take a look at the following statement about Undistributed Profits.

Select the most appropriate explanation for Undistributed Profits.

15. Take a look at the following statement about Net National Product (NNP).

1. If Real GDP changes, the volume of production does not change.
2. Nominal GDP simply refers to the worth of GDP at current prices.

Select the incorrect response.

16. Think about the following statement:

1. Price indices are used to calculate the rate of inflation.
2. A price index is a metric that shows the specific rise or reduction in the price of a single item.
3. A price index is a weighted average of prices for a variety of goods and services.

Select the correct response.

17. Which ministry in India publishes the WPI (Wholesale Price Index)?

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18. Think about this:

1. Central Statistics Office's Consumer Price Index
2. The Wholesale Price Index (WPI) is a measurement of the average
   change in the wholesale market price of commodities.
3. Both the WPI and the Consumer Price Index consider both
   goods and services.

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19. match the following

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