Answer: Option A. -> net domestic product of India
Answer: (a)
Domestic Product is the ross money value of all final goods and services produced in the domestic territory of a country during a year.
National Product is the gross money value of all final goods and services produced by the normal residents of a country during a year. It includes net factor income from abroad.

Answer: Option B. -> Central Statistical Organisation
Answer: (b)
Since 1955 the national income estimates are being prepared by Central Statistical Organization.
The CSO uses different methods like the Product Method, Income Method and Expenditure method for various sectors in the process of estimating the National Income.

Answer: Option C. -> the amount of capital invested per unit of output
Answer: (c)
Capital Output Ratio is the ratio of capital used to produce output over a period of time. This ratio has a tendency to be high when capital is cheap as compared to other inputs.
For instance, a country with abundant natural resources can use its resources in lieu of capital to boost its output; hence the resulting capital-output ratio is low. The capital-output ratio tends to increase if the capital available in a country is cheaper than the other inputs.
Therefore, the countries that are rich in natural resources have a low capital-output ratio. This is because they can easily substitute capital with natural resources in order to increase the output. When countries use their natural resources instead of capital then COR reduces.

Answer: Option C. -> production of goods
Answer: (c)Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called “State Excise” duty. The Excise duty on rest of goods is called “Central Excise” duty.

Answer: Option B. -> Opening Stock + Net Investment – Capital Losses
Answer: (b)
Closing stock refers to the goods remaining unsold during the year. It includes finished products, raw materials, or work in progress and is deducted from the period's costs in the balance sheets.
The amount of closing stock (properly valued) is used to arrive at the cost of goods sold in a periodic inventory system with the following calculation:
Opening stock + Purchases - Closing stock = Cost of goods sold.

Answer: Option B. -> consumption
Answer: (b)
The processing of agricultural products;
The production of grain by threshing;
The production of flour by milling;
The curing of skins and the production of leather;
The production and preservation of meat and fish products; 
The preservation of fruit by drying, bottling, etc.;
The production of dairy products such as butter or cheese;
The production of beer, wine or spirits; the production of baskets and mats; etc,
comes under processing of primary commodities for own consumption.

Answer: Option D. -> production of income
Answer: (d)
Macroeconomics involves the sum total of economic activity, dealing with the issues such as the production of national income, growth, inflation, and unemployment.
It is all about is about maximizing national income and growth.

Answer: Option A. -> closed economy
Answer: (a)
An economy that does not interact with the economy of any other country is known as a closed economy.
A closed economy is self-sufficient, meaning no imports are brought in and no exports are sent out. It is the opposite of an open economy, in which a country conducts trade with outside regions.

Answer: Option D. -> GNP at Factor Cost
Answer: (d)National Income is the total value of all goods and services produced in the economy during a particular period of time.

Answer: Option D. -> Marginal efficiency of capital
Answer: (d)
According to Keynes’ ‘General Theory of Employment, Interest and Money,’ business cycles are caused by variations in the rate of investment which are caused by fluctuations in the marginal efficiency of capital.
Marginal efficiency of capital means the expected profits from new investments.