12th Grade > Economics - 2
UNDERSTANDING GDP MCQs
Total Questions : 30
| Page 3 of 3 pages
Answer: Option B. -> Flow variable
:
B
The opposite to a stock variable is flow variable, which is dynamic is nature.
:
B
The opposite to a stock variable is flow variable, which is dynamic is nature.
Answer: Option B. -> National product - Net factor income from abroad
:
B
Domestic product is "National product - Net factor income from abroad".
:
B
Domestic product is "National product - Net factor income from abroad".
Answer: Option D. -> Production
:
D
The value-added and the production methods are one and the same.
:
D
The value-added and the production methods are one and the same.
Answer: Option A. -> Stock variable
:
A
Wealth is a stock variable.
:
A
Wealth is a stock variable.
Answer: Option D. -> Both (a) and (c)
:
D
The car will be both a capital and a final good.
:
D
The car will be both a capital and a final good.
:
The stock of unsold finished or unfinished goods, and unused raw materials and intermediate goods that a firm carries from one year to another is called inventory.
Answer: Option C. -> Fixed investment
:
C
Fixed investment is not included in the income method.
:
C
Fixed investment is not included in the income method.
Answer: Option A. -> Households
:
A
Households supply the input of labour for production
:
A
Households supply the input of labour for production
Answer: Option B. -> Consumer goods
:
B
Consumer goods satisfy human wants directly.
:
B
Consumer goods satisfy human wants directly.
Answer: Option B. -> 3
:
B
We have 3 approaches to calculating national income or GDP.
:
B
We have 3 approaches to calculating national income or GDP.
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