National Income Test 8- Classification under Heads: AP Macroeconomics

Which of the following cannot be necessarily be classified as a Final Product?
Services rendered to the customer
Products added to the Capital Stock
Stock lying with shopkeeper
Goods sold to consumers
Finished Product
Interest on National Debt falls under:
National Income
Gross National Product
Private Income
Gross Domestic Product
Net Domestic Product
Under which sector, does Production for self-consumption occur?
Corporate sector
Government Departmental enterprises
Government non-departmental enterprises
Government sector
Dividends and Corporate tax fall under the head of:
Total Profits
Interest Payments
Private Final Consumption Expenditure includes: I Consumer Services II Consumer Durable goods used repeatedly III Consumer Non-Durable goods not used repeatedly
I only
II only
III only
II and III
I, II and III
Under which sector do the non-profit institutions serving households lie?
Household sector
Consumer Households
Corporate and quasi-corporate
Government sector
Which of the following is considered as an investment?
Buying stocks
Buying shares
Buying a second hand vehicle
Smuggling goods
None of these
The employer’s contribution to social security schemes is a part of:
Wages and Salaries in cash and in kind
Wages and Salaries
Compensation of Employees
Profits of the Entrepreneurs
All of the Above
Transfer Payments include which of the following:
Scholarships given to students
Old age pensions given to senior citizen
Gifts in cash
Grants to social welfare organization
All of the above
The Imputed Gross Rent of buildings occupied by the owner is included in :
Consumer Durables
Final consumption
Immediate consumption
Capital information
Wages and Salaries

While estimating and computing the National Income, different items are clubbed under various heads. A student of AP must remember the headings and the items included under these heads. Here is a 7-minute short Multiple Choice questions test which checks your knowledge of how the various items are treated while estimating National Income.

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