Economics MCQ Class 12 Chapter 2 | National Income Accounting | Economics Quiz for Class 12 and Other Competitive Exams

Economics MCQ Class 12 Chapter 2: Check the below NCERT MCQ Questions for Economics MCQ Class 12 Chapter 2 with Answers Pdf free download. Economics MCQ Class 12 Chapter 2 Questions for Economics with Answers were prepared based on the latest exam pattern. We have provided Economics MCQ Class 12 Chapter 2 with Answers to help students understand the concept very well.

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Economics MCQ Class 12 Chapter 2


1. NNPMP = ________
(A) GNPMP – Depreciation
(B) NDPMP + Net factor income from abroad
(C) NNPFC + Net indirect taxes
(D) All of these

View Answer

(D) All of these


2. Why are the intermediate goods not included in the National Income while measuring National Income?
(A) To avoid double accounting
(B) It decreases income
(C) Intermediate goods are not good
(D) All of these

View Answer

(A) To avoid double accounting


3. GNP at MP = ______
(A) GDPMP – Depreciation
(B) GDPMP + Depreciation
(C) GDPMP ÷ Depreciation
(D) GDPMP + Net factor income from abroad

View Answer

(A) GDPMP – Depreciation


4. Calculation of National Income at Market Prices is known as _________.
(A) Money income
(B) Real income
(C) Non-monetary income
(D) None of these

View Answer

(A) Money income


5. General Price Level is studied in:
(a) Micro Economics
(b) Macro Economics
(c) Both (a) and (b)
(d) None of these

View Answer

(b) Macro Economics


6. Who had made the first attempt at National Income Accounting?
(A) Prof. D.R.Gadgill
(B) Simon Kuznets
(C) J.M.Keynes
(D) Gregory King

View Answer

(D) Gregory King


7. NDPMP = ________
(A) GDPMP – Depreciation
(B) GDPFC + Net factor income from abroad
(C) NNPFC + Net indirect taxes
(D) All of these

View Answer

(A) GDPMP – Depreciation


8. Employment Theory is related to :
(a) Static Economics
(b) Micro Economics
(c) Macro Economics
(d) None of these

View Answer

(c) Macro Economics


9. Which one of the following is included in ‘Stock’?
(a) Quantity of Money
(b) Wealth
(c) Quantity of wheat stored in a warehouse
(d) All the above

View Answer

(d) All the above


10. Which one is included inflow ?
(a) Consumption
(b) Investment
(c) Income
(d) All of these

View Answer

(b) Investment


11. GDPFC =
(A) GDPMP – Net indirect taxes
(B) GDPMP + Net indirect taxes
(C) GDPMP + Subsidies
(D) GDPMP – Indirect taxes

View Answer

(A) GDPMP – Net indirect taxes


12. Increase in Stock of Capital is known as:
(a) Capital Loss
(b) Capital Profit
(c) Capital Formation
(d) None of these

View Answer

(c) Capital Formation


13. Which one of the following is included in circular flow?
(a) Real Flow
(b) Money Flow
(c) Both (a) and (b)
(d) None of these

View Answer

(c) Both (a) and (b)


14. Which of the following is included in real flow?
(a) Flow of Goods
(b) Flow of Services
(c) Both (a) and (b)
(d) None of these

View Answer

(c) Both (a) and (b)


15. Which of the following is sPktock ?
(a) Wealth
(b) Saving
(c) Export
(d) Profit

View Answer

(a) Wealth


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