National Income and Related Aggregates
18 solved questions from Class 12 Economics, each with the full working. Tap any question to see the step-by-step solution.
- 1 What is the primary topic or theoretical principle explored in 'National Income and Related Aggregates' (Class 12 ECONOMICS)? medium MCQ Chapter Core Principle
- 2 Which key mechanism or analytical rule is highlighted in 'National Income and Related Aggregates'? medium MCQ Key Analytical Mechanism
- 3 What is the primary topic or principle explained in 'National Income and Related Aggregates' (Class 12 Economics)? medium MCQ Chapter Core Concept
- 4 Which key observation or fact is central to understanding 'National Income and Related Aggregates'? medium MCQ Key Fact & Mechanism
- 5 Why is the study of 'National Income and Related Aggregates' important for students of Class 12? medium MCQ Learning Significance
- 6 What is a common application or real-world example related to 'National Income and Related Aggregates'? medium MCQ Real World Application
- 7 What key takeaway should students retain after completing 'National Income and Related Aggregates'? medium MCQ Chapter Summary & Takeaway
- 8 Explain the relationship between Net Domestic Product (NDP) and Net National Product (NNP). Include how factor income from abroad is treated. medium 2 marks Difference between NDP and NNP
- 9 Using the income method, calculate the Gross Domestic Product (GDP) at market price for Nation Y for the year 2021. The following data (in crore rupees) are given: Compensation of employees = 1,200; Operating surplus (profits of corporations) = 800; Mixed income (profits of unincorporated enterprises) = 250; Rental income = 150; Indirect taxes = 300; Subsidies = 50; Depreciation (consumption of fixed capital) = 200. Assume that net factor income from abroad is zero. Show all steps and present the final GDP figure. hard 5 marks Income method of GDP
- 10 Suppose in a given year, the following data are reported for India: Consumption expenditure = Rs. 90 lakh crore, Investment expenditure = Rs. 30 lakh crore, Government expenditure = Rs. 20 lakh crore, Net exports = Rs. 5 lakh crore. What is the Gross Domestic Product (GDP) at market price? easy MCQ 1 mark GDP by expenditure method
- 11 Given the following data for Country X for the year 2022 (in billions of rupees): Net domestic product at factor cost = 800, Indirect taxes = 120, Subsidies = 30, Depreciation = 100. Compute the Gross National Product (GNP) at market price. medium 3 marks GNP calculation from NDP
- 12 Suppose in 2025, India reported the following for the current year: Consumption expenditure = Rs. 110 lakh crore, Investment expenditure = Rs. 45 lakh crore, Government expenditure = Rs. 25 lakh crore, Net exports = Rs. 8 lakh crore. What is the Gross Domestic Product (GDP) at market price? easy 2 marks GDP by expenditure approach
- 13 Country A has Net Domestic Product (NDP) at factor cost of Rs. 6000 crore. Indirect taxes amount to Rs. 800 crore, subsidies Rs. 200 crore. Depreciation is Rs. 700 crore. Net factor income from abroad is Rs. 300 crore. Calculate the Gross National Product (GNP) at market price. medium 3 marks GNP at market price calculation
- 14 Using the income method, compute the Gross Domestic Product (GDP) at market price for Country B for the year 2023 given the following data in crore rupees: Compensation of employees = 1800; Operating surplus (profits of corporations) = 1200; Mixed income (profits of unincorporated enterprises) = 400; Rental income = 250; Indirect taxes = 500; Subsidies = 150; Depreciation (consumption of fixed capital) = 300; Net factor income from abroad = -200. Provide the final GDP figure. hard 4 marks GDP via income method
- 15 In 2024, the Indian economy reported the following expenditure figures (in lakh crore rupees): Consumption expenditure = Rs. 120 lakh crore, Investment expenditure = Rs. 50 lakh crore, Government expenditure = Rs. 27 lakh crore, Net exports = Rs. 6 lakh crore. Calculate the Gross Domestic Product (GDP) at market price. easy 1 mark Expenditure approach to GDP
- 16 Using the income method, compute the Gross Domestic Product (GDP) at market price for Country Z in 2023. The data (in crore rupees) are: Compensation of employees = 2,100; Operating surplus = 1,400; Mixed income = 600; Rental income = 300; Indirect taxes = 550; Subsidies = 200; Depreciation = 400; Net factor income from abroad = 100. medium 2 marks Income approach to GDP
- 17 Country A had a Net Domestic Product at factor cost of Rs. 4,200 crore in 2025. Indirect taxes amounted to Rs. 300 crore, subsidies were Rs. 150 crore, depreciation was Rs. 250 crore, and net factor income from abroad was Rs. 80 crore. Compute the Gross National Product at market price for Country A in 2025. hard 3 marks Conversion from NDP to GNP
- 18 Which of the following statements correctly describes the relationship between Net Domestic Product (NDP) and Net National Product (NNP)? medium MCQ 2 marks NDP to NNP conversion