Question 1

Starting point of Keynesian economics is:

Accepted Answer

A) effective demand 
B) individual demand 
C) aggregate demand 
D) market demand 
A) effective demand 
B) individual demand 
C) aggregate demand 
D) market demand A

Question 2

Personal Income includes:

Accepted Answer

A) dividend distributed 
B) social insurance contributions 
C) corporate profit 
D) none of the above 
A) dividend distributed 
B) social insurance contributions 
C) corporate profit 
D) none of the above A

Question 3

Functional relationship between saving and disposable income is:

Accepted Answer

A) savingfunction 
B) income function 
C) consumption function 
D) investment function 
A) savingfunction 
B) income function 
C) consumption function 
D) investment function A

Question 4

Why do not the sale or purchase of used goods are not included in the GDP?

Accepted Answer

A) used goods have only limited life 
B) used goods are not fresh production 
C) used goods are included in the previous gdp calculations 
D) all the above 
A) used goods have only limited life 
B) used goods are not fresh production 
C) used goods are included in the previous gdp calculations 
D) all the above

Question 5

Disposable Income does not include:

Accepted Answer

A) excise dutypaid 
B) income tax 
C) customs dutypaid 
D) none of theabove 
A) excise dutypaid 
B) income tax 
C) customs dutypaid 
D) none of theabove

Question 6

Which one of the following includes 'income ofresidents'?

Accepted Answer

A) gdp 
B) nnp 
C) sdp 
D) none of the above 
A) gdp 
B) nnp 
C) sdp 
D) none of the above

Question 7

Who first introduced the concept of circular flow ofincome?

Accepted Answer

A) william petty 
B) adam smith 
C) david ricardo 
D) fancois quesnay 
A) william petty 
B) adam smith 
C) david ricardo 
D) fancois quesnay

Question 8

Value added at each stage of production means:

Accepted Answer

A) value of output minus value of input 
B) total value added by that stage 
C) total value produced at that stage 
D) all of the above 
A) value of output minus value of input 
B) total value added by that stage 
C) total value produced at that stage 
D) all of the above

Question 9

Inventories are unsold goods produced by a firm, then why do they are included in GDP?

Accepted Answer

A) inventories represent value 
B) inventories add to the stock of the firm 
C) they are purchases by the firm itself 
D) all the above 
A) inventories represent value 
B) inventories add to the stock of the firm 
C) they are purchases by the firm itself 
D) all the above

Question 10

Keynesian three sector model consist of:

Accepted Answer

A) business sector, service sector, externalsector 
B) households, business, government 
C) governmentsector, open sector,service sector 
D) governmentsector, private sector, open sector 
A) business sector, service sector, externalsector 
B) households, business, government 
C) governmentsector, open sector,service sector 
D) governmentsector, private sector, open sector

Question 11

Which one of the following is roughly equal to national income?

Accepted Answer

A) gdp 
B) nnp 
C) gnp 
D) sdp 
A) gdp 
B) nnp 
C) gnp 
D) sdp

Question 12

Who among the following pioneered the first real estimate of national income?

Accepted Answer

A) adam smith 
B) david ricardo 
C) william petty 
D) none of the above 
A) adam smith 
B) david ricardo 
C) william petty 
D) none of the above

Question 13

Who argued that "Everything that is produced in the course of a year, every service rendered, every fresh utility brought about is a part of the national wealth."?

Accepted Answer

A) js mill 
B) stanley jevons 
C) alfred marshall 
D) robert malthus 
A) js mill 
B) stanley jevons 
C) alfred marshall 
D) robert malthus

Question 14

Remittances made by NRIs to India in the context of national income accounting is called as

Accepted Answer

A) remittance income 
B) nri income 
C) factor payments 
D) all of the above 
A) remittance income 
B) nri income 
C) factor payments 
D) all of the above

Question 15

As the value of MPC increases, the value ofmultiplier:

Accepted Answer

A) decreases 
B) increases 
C) constant 
D) cannot 
A) decreases 
B) increases 
C) constant 
D) cannot

Question 16

Which one in the following is a flow variable?

Accepted Answer

A) debt 
B) wealth 
C) unemployment 
D) gdp 
A) debt 
B) wealth 
C) unemployment 
D) gdp

Question 17

Who argued that national income issimply equal to "net product of agriculture"?

Accepted Answer

A) mercantilists 
B) physiocrats 
C) classical economists 
D) neo classical economists 
A) mercantilists 
B) physiocrats 
C) classical economists 
D) neo classical economists

Question 18

The value of 'intermediate goods' are excluded from GDP calculation because:

Accepted Answer

A) it will increase the gdp unduly 
B) it results in multiple counting of same value 
C) intermediate goods are not important 
D) all the above 
A) it will increase the gdp unduly 
B) it results in multiple counting of same value 
C) intermediate goods are not important 
D) all the above

Question 19

Which one in the following is a stock variable?

Accepted Answer

A) income 
B) investment 
C) capital 
D) fiscal deficit 
A) income 
B) investment 
C) capital 
D) fiscal deficit

Question 20

GDP Deflator is also called as:

Accepted Answer

A) implicit cost deflator 
B) gdp at factor cost 
C) implicit wage deflator 
D) implicit price deflator 
A) implicit cost deflator 
B) gdp at factor cost 
C) implicit wage deflator 
D) implicit price deflator

Starting point of Keynesian economics is:

Personal Income includes:

Functional relationship between saving and disposable income is:

Why do not the sale or purchase of used goods are not included in the GDP?

Disposable Income does not include:

Which one of the following includes 'income ofresidents'?

Who first introduced the concept of circular flow ofincome?

Value added at each stage of production means:

Inventories are unsold goods produced by a firm, then why do they are included in GDP?

Keynesian three sector model consist of:

Which one of the following is roughly equal to national income?

Who among the following pioneered the first real estimate of national income?

Who argued that "Everything that is produced in the course of a year, every service rendered, every fresh utility brought about is a part of the national wealth."?

Remittances made by NRIs to India in the context of national income accounting is called as

As the value of MPC increases, the value ofmultiplier:

Which one in the following is a flow variable?

Who argued that national income issimply equal to "net product of agriculture"?

The value of 'intermediate goods' are excluded from GDP calculation because:

Which one in the following is a stock variable?

GDP Deflator is also called as:

Classical Economic Theory

Economics Model and IS-LM Analysis

Macro Economics Terminology and Concepts

Keynesian Economics and Related Concepts

Economic Theory and Methodology: Exploring the Fundamentals of Economics

Filters

Exam 5: National Income Accounting and Keynesian Economics

Starting point of Keynesian economics is:

Personal Income includes:

Functional relationship between saving and disposable income is:

Why do not the sale or purchase of used goods are not included in the GDP?

Disposable Income does not include:

Which one of the following includes 'income ofresidents'?

Who first introduced the concept of circular flow ofincome?

Value added at each stage of production means:

Inventories are unsold goods produced by a firm, then why do they are included in GDP?

Keynesian three sector model consist of:

Which one of the following is roughly equal to national income?

Who among the following pioneered the first real estimate of national income?

Who argued that "Everything that is produced in the course of a year, every service rendered, every fresh utility brought about is a part of the national wealth."?

Remittances made by NRIs to India in the context of national income accounting is called as

As the value of MPC increases, the value ofmultiplier:

Which one in the following is a flow variable?

Who argued that national income issimply equal to "net product of agriculture"?

The value of 'intermediate goods' are excluded from GDP calculation because:

Which one in the following is a stock variable?

GDP Deflator is also called as:

Classical Economic Theory

Economics Model and IS-LM Analysis

Macro Economics Terminology and Concepts

Keynesian Economics and Related Concepts

Economic Theory and Methodology: Exploring the Fundamentals of Economics

Filters