National Income Accounting

CBSE Class 12 Economics · every board question from this chapter, 2022–2026

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“The Ministry of Statistics and Programme Implementation (MoSPI) is underway to revise the base year of Gross Domestic Product…2026
In a two sector economy, the flow of factor payments moves from to. (Choose the correct option to fill in the blanks)2026
Income generated from Aircrafts of Air India operating between Canada and England would be added to the domestic income ( NDP_FC…2026
Identify the variable(s) which may add to the future productive capacity of an economy: I. Raw material II. Fixed investment III.…2026
On the basis of the given table, estimate the value added by the Baker. (Amount in ₹ crore) Farmer Baker Total Production 100 200…2026
To arrive at the value of National Income (NNP_FC ), must be added to at factor cost. (Choose the correct option to fill in the…2026
Following are the steps to measure National Income (NNP_FC ) by Value Added method: (i) Calculate Domestic Income (NDP_FC ) by…2026
Read the following Flow chart carefully and choose the correct option:2026
In an economy, exclusion of may lead to under estimation of the value of Gross Domestic Product (GDP). (Choose the correct option…2026
Read the following statements carefully: Statement I: Positive externalities refer to the benefits a firm/an individual provides…2026
Read the following statements carefully: Statement 1: Final goods are those goods which normally lose their identity in the…2026
Read the following statements carefully: Statement 1: Brokerage earned by a dealer of second hand cars is included in the…2026
Estimate the value of ‘Income from Property and Entrepreneurship’ on the basis of the given data: S. No. Items Amount (in ₹…2026
Calculate the value of ‘Rent’ from the following data: S. No. Particulars Amount (in ₹ crore) (i) Interest 45 (ii) Profit after…2026
Meera and Shahid are two classmates, who were comparing India's economic growth over the years. Meera referred to the increase in…2026
On the basis of the given data, estimate the value of Gross Domestic Product at Factor Cost ( GDP_FC ): S. No. Items Amount (in ₹…2026
Calculate compensation of employees from the data given below: S. No. Particulars Amount (in ₹ crore) (i) Interest 45 (ii)…2026
State the meaning and any two components of Gross Domestic Capital formation. OR “It is not the nature of a good, rather the…2026
Two friends, Devanshi and Harshit, were discussing whether prize money from lottery winnings, should be included in India's…2026
On the basis of the given data, estimate the value of Net Domestic Product at Factor Cost ( NDP_FC ): S. No. Items Amount (in ₹…2026
On the basis of the given data, estimate the value of Gross National Product at Market Price (GNP_MP ): S. No. Items Amount (in ₹…2026
Ms. Reeta D'Costa, retired from the post of Income Tax Commissioner in the year 2023. Apart from her pension, she also receives…2026
For a hypothetical economy, assuming there are only two firms (X and Y) with equal values of Gross Value Added (GVA). On the…2026
For a hypothetical economy, assuming there are only two firms (X and Y) with equal values of Gross Value Added (GVA). On the…2026
Read the following text carefully: “A country’s total National Income (NI) at the end of the year is ₹ 80,000 crore. During the…2026
A company named Tech Info Ltd. manufactures printers. The company purchases machinery from Germany to manufacture printers. These…2026
Calculate the values of Operating Surplus and Gross Domestic Product at Market Price (GDP_MP ) from the following data: S. No.…2026
Read the following passage carefully: The domestic product measures the value of all goods and services arising out of economic…2026
(i) “If in a locality a new park is developed by the Municipal Corporation, it will have some external effects.” State one…2026
Calculate National Income (NNP_FC ) and Gross Domestic Product at Factor Cost (GDP_FC ) from the following data: S. No.…2026
To arrive at the value of Net Value Added at Market Price (NVA_MP ), must be to/from Gross Value Added at Market Price (GVA_MP ).…2025
To arrive at the value of Gross Value Added at Factor Cost (GVA_FC ), must be to/from Gross Value Added at Market Price (GVA_MP…2025
Using the given information, complete the following table: (Choose the correct option) 2014 – 2015 2016 – 2017 Nominal GDP 6.5 9…2025
Identify, which of the following items will not be included in estimating National Income of India. (Choose the correct option)2025
Explain any two precautions pertaining to the Income Method of Estimation of National Income in a country. OR On the basis of the…2025
Calculate the value of ‘Sales’ from the following data: S. No. Particulars Amount (in ₹ lakh) (i) Subsidies 200 (ii) Operating…2025
State the steps pertaining to the estimation of National Income, under the Income Method. OR On the basis of the following…2025
State and explain any two precautions that must be taken while estimating national income by expenditure method. OR Calculate the…2025
Explain any two precautions pertaining to the Expenditure Method of estimation of National Income in a country. OR On the basis…2025
State and explain any two precautions that must be taken while estimating national income by production method/output method. OR…2025
State the steps pertaining to the estimation of National Income, under the Value Added Method. OR On the basis of the following…2025
On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year…2025
Explain any two precautions pertaining to the Value Added Method of Estimation of National Income in a country. OR On the basis…2025
Calculate Domestic Income (NDP_FC ) from the data given below: S. No. Particulars Amount (in ₹ lakh) (i) Gross National Product…2025
(i) Explain the likely impact of construction of 100 new super speciality hospitals in a nation on Gross Domestic Product (GDP)…2025
(i) “Domestic income is always less than national income.” Do you agree with the given statement? Support your answer with valid…2025
(i) Suppose there are only three firms in an imaginary economy, viz. X, Y and Z. During a year, the following transactions took…2025
(i) On the basis of the following data, estimate the value of Net Domestic Product (NDP_FC ): S.No. Items Amount (in ₹ Crore) (i)…2025
(i) Explain the likely impact of construction of 20 new flyovers in a nation on Gross Domestic Product (GDP) and welfare in the…2025
(i) Suppose, there are only three firms in a hypothetical economy, viz. A, B and C. During a given period of time, the following…2025
(i) Suppose, there are only three firms in a hypothetical economy, viz. A, B and C. During a given period of time, the following…2025
Identify the correct equation from the following:2024
Identify which of the following statements is incorrect with reference to an economy.2024
Read the following statements carefully: Statement 1: Economic territory and political frontier of a nation are one and the same…2024
On the basis of the data given below for an imaginary economy, estimate the value of Net Domestic Product at Factor Cost (NDP_FC…2024
On the basis of the data given below for an imaginary economy, estimate the value of Net Domestic Product at Factor Cost (NDP_FC…2024
On the basis of the given data, estimate the value of National Income: S.No. Items Amount (in ₹ crore) (i) Government Final…2024
State any three precautions to be taken while estimating national income by income method. OR On the basis of the given data,…2024
On the basis of the data given below, estimate the value of Gross National Product at Factor Cost (GNP_FC ): S.No. Items Amount…2024
(i) Explain the concept of circular flow of income in a two-sector economy. (ii) “Gross Domestic Product (GDP) and sum of Gross…2024
Discuss briefly the concept of circular flow of income in a two-sector model. “Real Gross Domestic Product (GDP) is a better…2024
Discuss briefly the concept of circular flow of income in a two-sector model. “Real Gross Domestic Product (GDP) is a better…2024
Read the following text carefully: Decisions taken by factors of production in the production process often may affect the…2024
The difference between National Income at market price and National Income at factor cost is. (Choose the correct alternative to…2023
(i) Read the following statements carefully: Statement 1: Stock variables are measured at a point of time. Statement 2: Flow…2023
Choose the correct alternative to fill in the blanks (i) and (ii) in the figure. Alternatives: OR Operating Surplus does not…2023
Choose the correct alternative to fill in the blanks (i) and (ii) in the figure. Alternatives: OR Operating Surplus does not…2023
Discuss briefly, the concept of ‘Mixed Income of Self-Employed’ under the Income method. OR Defend or refute the following…2023
Distinguish between ‘Value Addition’ and ‘Final Value of Output’. OR Find Net Value Added at Factor Cost (NVA_FC ) using the…2023
Distinguish between ‘Value Addition’ and ‘Final Value of Output’. OR Find the Value Added by Firm A, from the following…2023
Differentiate between ‘Value of Output’ and ‘Value Added’. OR Justify the following statement: “Depreciation is a fall in the…2023
Suppose, the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,100 crore. Net Factor Income…2023
Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,500 crore. Net Factor Income…2023
Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,200 crore. Net Factor Income…2023
Discuss briefly the three components of ‘operating surplus’. OR Defend or refute the following statement, with valid argument:…2023
"Machine purchased by a firm is always a capital good." Do you agree with the given statement? Give valid reasons for your…2023
State the meaning of: Problem of Double Counting Operating Surplus Compensation of Employees2023
Should purchase of wheat in the wholesale market be treated as the purchase of intermediate goods? Increase in national income…2023
“National Income is always greater than Domestic Income.” Do you agree with the given statement? Support your answer with a valid…2023
State the meanings of: Economic territory Mixed income of self-employed Compensation of employees2023
Read the following text carefully: In India, after Covid-19 period, household and private sector consumption, as measured by…2023
“In the estimation of Gross Domestic Product (GDP) using expenditure method, focus lies only on expenditure by the residents of…2023
If the Real Gross Domestic Product is ₹ 16,000 crores and Gross Domestic Product at current prices is ₹ 20,000 crores, calculate…2022
Distinguish between Consumption goods and Capital goods. OR Giving valid reasons, classify the following into stock and flow…2022
If the Gross Domestic Product at current prices is ₹ 6,600 crore and GDP deflator is 110, calculate the Real Gross Domestic…2022
State any two precautions to be adopted while estimating National Income by Income Method. OR Distinguish between ‘Value of…2022
Distinguish between Factor Income and Transfer Income. OR Distinguish between Domestic Income and National Income.2022
Distinguish between Consumption goods and Capital goods. OR Distinguish between net export and net factor income from abroad.2022
State any two precautions to be adopted while estimating National Income by Expenditure Method. OR Distinguish between ‘Final…2022
Distinguish between Factor Cost and Market Price. OR Distinguish between Factor Income and Transfer Income.2022
State any two precautions to be adopted while estimating National Income by Value Added Method. OR State any two precautions to…2022
Giving valid reasons, explain how the following would be treated while estimating domestic income? (i) Payment made by a Japanese…2022
Discuss briefly the problem of ‘Double Counting’, using a suitable example. OR Distinguish between Real Gross Domestic Product…2022
Giving valid reasons, explain how the following would be treated while estimating domestic income? (i) Payment made by a Japanese…2022
Discuss briefly the problem of ‘Double Counting’, using a suitable example. OR Distinguish between Real Gross Domestic Product…2022
Briefly explain the different phases of circular flow of income. OR In an economy, if the Real Gross Domestic Product (GDP) is ₹…2022
Estimate the missing values (?), if the value of Gross Domestic Product at factor cost (GDP_fc ) by Expenditure Method and Income…2022
Estimate the missing values (?), if the value of Gross Domestic Product at factor cost (GDP_fc ) by Expenditure Method and Income…2022
(I) From the following, calculate the value of net domestic product at factor cost: S. No. Items Amount in (₹ crore) (i) Royalty…2022
(I) From the following data, calculate the value of operating surplus: S. No. Items Amount in (₹ crore) (i) Royalty 10 (ii) Rent…2022
(I) From the following data, calculate the value of operating surplus: S.No. Items Amount in (₹ crore) (i) Royalty 5 (ii) Rent 75…2022
Estimate the missing values (?), if the value of Gross Domestic Product at factor cost (GDP_fc ) by Expenditure Method and Income…2022
From the following data, show that the National Income will be same from both Income Method and Expenditure Method: S. No. Items…2022

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