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Measurement Of National Income — Important Questions

ICSE · Class 12 · Economics

66 important questions from Measurement Of National Income for ICSE Class 12 Economics, with answers. Written for the board exams 2027.

66 questions40 flashcards15 formulas & key relations5 concepts

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66 Questions·
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Important Questions from Measurement Of National Income

1multiple choice
3 marks

A firm has sales of ₹2,000 thousand, exports of ₹500 thousand, and change in stock of ₹200 thousand. Its purchase of raw materials is ₹560 thousand and its depreciation is ₹100 thousand. What is its net value added at factor cost?

Show answer

₹1,980 thousand

Value of output = domestic sales + exports + change in stock = 2,000 + 500 + 200 = ₹2,700 thousand. Gross value added at market price = 2,700 - 560 = ₹2,140 thousand. Net value added at factor cost = 2,140 - 100 - 60 = ₹1,980 thousand.

2multiple choice
3 marks

An economy has compensation of employees of ₹300 crore, rent of ₹120 crore, interest of ₹15 crore, profit of ₹45 crore, mixed income of ₹360 crore, and net factor income from abroad of ₹30 crore. What is national income?

Show answer

₹870 crore

Domestic income = 300 + 120 + 15 + 45 + 360 = ₹840 crore. National income = domestic income + NFIA = 840 + 30 = ₹870 crore.

3multiple choice
3 marks

A country has GDP at market price of ₹1,240 crore, depreciation of ₹50 crore, net indirect taxes of ₹30 crore, and net factor income from abroad of ₹(-10) crore. What is national income?

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₹1,150 crore

National income = GDP at market price - depreciation - net indirect taxes + NFIA = 1,240 - 50 - 30 - 10 = ₹1,150 crore.

4multiple choice
3 marks

Private final consumption expenditure is ₹700 crore, government final consumption expenditure is ₹250 crore, gross domestic capital formation is ₹220 crore, net exports are ₹70 crore, depreciation is ₹50 crore, net indirect taxes are ₹30 crore, and net factor income from abroad is ₹(-10) crore. What

Show answer

₹1,150 crore

GDP at market price = 700 + 250 + 220 + 70 = ₹1,240 crore. National income = 1,240 - 50 - 30 - 10 = ₹1,150 crore.

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What are the important topics in Measurement Of National Income for ICSE Class 12 Economics?
Key topics in Measurement Of National Income include Core Ideas and Methods, Product Method or Value Added Method, Steps, Precautions, and Double Counting in Product Method, Income Method. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How many important questions are there in Measurement Of National Income?
Super Tutor has 66 practice questions for Measurement Of National Income, including multiple choice, multiple correct, true false questions. A sample with answers is on this page.

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