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Earn 100

The households receive transfer payments from government and firms.

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Important Questions on National Income Accounting

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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Circular flow of income does not take place in case of closed economy.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ variable is a dynamic concept.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Real flow is also known as nominal flow.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
'Inventory is a stock variable.'
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Rs 2,000 note lying in wallet of Rohini, a student is an example of _____ (stock/flow) variable.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Flow of factor payments and payments for goods and services between households and firms is known as _____ (Nominal Flow/Physical Flow).
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
In a two-sector economy, total production is always equal to total consumption.
 
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Why should the aggregate final expenditure of an economy be equal to the aggregate factor payments? Explain.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Capital formation is a flow.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Generation and distribution are the two phases in circular flow of income.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
National Income of a country is a stock concept.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ is also known as Nominal Flow.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ variable refers to that variable, which is measured at a particular point of time.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
There are no exports in a closed economy.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Replacement cost and depreciation of the asset are same.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ phase involves flow of factor income from firms to the households.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
What is the difference between planned and unplanned inventory accumulation? Write down the relation between change in inventories and value added of a firm.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Write down the three identities of calculating the GDP of a country by the three methods. Also briefly explain why each of these should give us the same value of GDP.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ flow determines the magnitude of growth process in an economy.
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Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Real Flow is also known as _____.