B Elasticity of Demand — Economics STD 12 Commerce / Arts — Question

In advance countries like USA and UK the ……………….. method of measuring NI is popular.
(a) Output Method / Product Method
(b) Income Method / Factor Cost Method
(c) Expenditure Method / Outlay Method
(d) None of these

Income method of measuring national income is the sum of …………………..
(a) Rent and profit
(b) Rent + Wages + Interest + Profit + MI + (X-M)
(c) C + I + G + (X-M)
(d) Interest + Wages

Choose the right group of pairs :

Group ‘A’	Group ‘B’
1. Fines and Penalties	(a) Use of domestic currency
2. Tax	(b) Violation of the law
3. internal debt	(c) French word
4. Bougette	(d) Major source of government revenue

Public finance is one of those subjects which are on the borderline between economics and politics’ ……………. is the view of
a) Adam Smith
b) Alfred Marshall
e) Prof. Hugh Dalton
d) Prof. Findlay Shirras

Theory of Economic Welfare.
(a) Efficiency in production
(b) Efficiency in consumption
(c) Overall economic efficiency
(d) Efficiency in social activities

charge high rate of interest to the people.

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

Micro Economic is based on certain assumption.
(a) Perfect competition
(b) Pure capitalism
(c) Full employment
(d) Fluctuations in the national income

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

The share of India’s foreign trade in Gross National Income during 2016-17 was –
(a) 25%
(b) 17.55
(c) 48.8 %
(d) None of these