CSS :: National Income Accounting
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1. |
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 |
Answer: Option A
Explanation:
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2. |
Which of the following is closest to the concept of economic production? |
A. |
Sale of goods and services for profit |
B. |
Manufacture of goods |
C. |
Addition to the value of commodities |
D. |
Addition to the stock of goods and services for future use |
Answer: Option C
Explanation:
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3. |
Which of the following is a characteristic feature of a modern economy? |
A. |
Predominance of agriculture |
B. |
Self-sufficient village economy |
C. |
Diversity in production of commodities |
D. |
Static technology |
Answer: Option C
Explanation:
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4. |
Identify economic stock from among the following: |
A. |
Depreciation of machinery |
B. |
Production of food grains during the Kharif season |
C. |
Purchase of food grains by a household |
D. |
Bank deposit of a household |
Answer: Option D
Explanation:
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5. |
Which of the following is an economic flow? |
A. |
National capital |
B. |
Demand for machinery |
C. |
Current account of a household in a bank |
D. |
Population of a country |
Answer: Option B
Explanation:
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6. |
A closed economy is one which: |
A. |
Does not trade with other countries |
B. |
Does not possess any means of international transport |
C. |
Does not have a coastal line |
D. |
Is not a member of the United Nations Organisation |
Answer: Option A
Explanation:
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7. |
The traditional economy is characterised by: |
A. |
Division of labour and specialisation |
B. |
Organisation of production for self-consumption |
C. |
Capital-intensive process of production |
D. |
Increasing state intervention |
Answer: Option B
Explanation:
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8. |
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. |
The Indian manager of the Punjab National Bank branch office in London |
D. |
An Indian tourist in Europe |
Answer: Option A
Explanation:
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9. |
Purchase of a ceiling fan by a household is treted in national income accounting as a part of: |
A. |
Capital formation |
B. |
Consumption over a long period of time |
C. |
Consumption at the time of its purchase |
D. |
Intermediate consumption |
Answer: Option C
Explanation:
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10. |
Corporate enterprises refer to: |
A. |
Business houses maintaining a separate profit and loss account |
B. |
Business houses that obtain loans from a bank |
C. |
Business houses that obtain loans from the public |
D. |
Business houses that are independent of their owners |
Answer: Option D
Explanation:
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