Index Numbers — Economics STD 12 Commerce / Arts — Question

WThile estimating National Income by income method the following precautions should be taken –
(a) transfer income should be ignored
(b) all unpaid services should be ignored
(c) income from sale of second hand goods should be ignored
(d) undistributed profits should be ignored

Demand for not habituated goods is ………….. demand.

Statements incorrect with reference to A.C. Pigou definition –
(a) National income means national dividend
(b) Objective income of the community
(c) Income from abroad does not include
(d) Income from abroad in money term

International trade is important because –
(a) it helps in optimal utilisation of resources
(b) it brings stability in price level
(c) it helps to earn foreign exchange
(d) it encourages investment

Which of the following is not a benefit of international trade –
(a) provides multiple choices of imported goods
(b) leads to division of labour
(c) high wage levels for all domestic workers
(d) can earn reputation and goodwill in the international market

Demand for essential commodities in life is …………..

What do Index numbers measure?
(a) Value of money
(b) Relative prices
(c) Relative change in prices
(d) All of these

Scope of Macro economics.
(a) Theory of Income and employment
(b) Theory of General Price level and inflation
(c) Theory of Economic growth and development
(d) Theory of Factor Pricing

Individual demand.
(a) Micro economics
(b) Slicing method
(c) Lumping method
(d) Study of individual unit

The term ‘Micro’ is derived from the Greek word.
(a) Makros
(b) Maikros
(c) Mikros
(d) Mikrosoft