National Income Accounting Test 1 Mcqs Preparation Online

1. Which of the following is closest to the concept of economic production?

A. Addition to the value of commodities

B. Manufacture of goods

C. Addition to the stock of goods and services for future use

D. Sale of goods and services for profit

2. Identify economic stock from among the following?

A. Bank deposit of a household

B. Production of food grains during the Kharif season

C. Purchase of food grains by a household

D. Depreciation of machinery

3. Purchase of a ceiling fan by a household is treted in national income accounting as a part of?

A. Capital formation

B. Intermediate consumption

C. Consumption at the time of its purchase

D. Consumption over a long period of time

4. A closed economy is one which?

A. Does not trade with other countries

B. Does not have a coastal line

C. Is not a member of the United Nations Organisation

D. Does not possess any means of international transport

5. Which of the following is an economic activity?

A. Medical facilities rendered by a charitable dispensary

B. Teaching one's own child at home

C. A housewife doing household duties

D. Listening to music on the radio

6. Who among the following is a non-resident of India?

A. A person of Indian origin working at the World Bank, Washington, DC

B. A person of Indian origin employed in the UNO office at New Delhi

C. An Indian tourist in Europe

D. The Indian manager of the Punjab National Bank branch office in London

7. Which of the following is an economic flow?

A. Demand for machinery

B. Current account of a household in a bank

C. Population of a country

D. National capital

8. Which of the following is a characteristic feature of a modern economy?

A. Self-sufficient village economy

B. Diversity in production of commodities D. Static technology

C. Predominance of agriculture

D. Diversity in production of commodities

9. Corporate enterprises refer to?

A. Business houses maintaining a separate profit and loss account

B. Business houses that obtain loans from the public

C. Business houses that are independent of their owners

D. Business houses that obtain loans from a bank

10. The traditional economy is characterised by?

A. Capital-intensive process of production

B. Organisation of production for self-consumption

C. Division of labour and specialisation

D. Increasing state intervention

National Income Accounting Test 1 Mcqs Preparation Online

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