Macro: National Income: Class 12 Previous Year Questions

Macro: National Income questions asked in CBSE board exams

Repeated questions first. Open the free app to see each question as it appeared in the paper, with its marking scheme.

1. Read the following statements carefully : 1 Statement 1 : Brokerage earned by a dealer of second hand cars is included in the estimation of National Income. Statement 2 : Imputed value of production for self-consumption is included in National Income. In the l…
   Board 20261 markMCQ
2.  13. (A) For a hypothetical economy, assuming there are only two firms (X and Y) with equal values of Gross Value Added (GVA). On the basis of the following data, estimate the value of Domestic Sales of both the firms (X and Y) : 4 S. No. Items Amount (in ` c…
   Board 20264 marksshort answer
3. (A) Read the following text carefully : “A country’s total National Income (NI) at the end of the year is ` 80,000 crore. During the same year, the Gross Domestic Product (GDP) increased by ` 10,000 crore. The depreciation on capital goods was ` 2,000 crore an…
   Board 20264 markscase-based
4. (A) Meera and Shahid are two classmates, who were comparing India’s economic growth over the years. Meera referred to the increase in Gross Domestic Product (GDP) at current prices prevailing in market, while Sahid insisted on considering GDP after adjusting f…
   Board 20263 marksshort answer
5. (a) (i) On the basis of the data given below, estimate the value of National Income (NNPFc) Amount S. No. Items ( in crore) (1) Private final consumption expenditure 2,000 (2) Government final consumption expenditure 1,500 (3) Gross domestic fixed capital form…
   Board 20256 markslong answer
6. Suppose, the value of Average Propensity to Consume (APC) is O.8 and National Income is 4,oo0 crores, the value of saving would be (Choose the correct option to fill up the blank) crores. Options : (A) 100 (B) 200 (C) 500 () 800
   Board 20251 markMCQ
7. Calculate the value of Net Value Added at Factor Cost (NVArc) : (a) S. No. Particulars Amount (In crore) (i) Operating Surplus 3,740 (ii) Increase in unsold stock 600 (iii) Sales 10,625 (iv) Purchaseofrawmaterials 2,625 (v) Consumption of fixed capital 500 (vi…
   Board 20253 marksshort answer
8. (i) (a) Explain any two precautions to be adopted while estimating National Income by Expenditure method. (i) "Higher Gross Domestic Product (GDP) always means higher per capita availability of goods in the economy." Defend or refute the given statement as the…
   Board 20256 markslong answer
9. State the meaning and significance of Gross Domestic Product (GDP) deflator. 7iPage 12. (a) 3(GST) (GST)1 13. (A INFLATION (B) (a) 14. (b) 20%25%1,000 8/Page
   Board 20253 marksshort answer
10. Page 13 17. (a) Discuss briefly the concept of circular flow of income in a two-sector model. 3 (b) economic growth of a nation as compared to the Nominal Gross Domestic Product (GDP). Do you agree with the given statement ? Justify your answer with a valid hy…
    Board 20246 markslong answer
11. Page 3 2. Identify the correct equation from the following : 1 (A) GDPMP = NNPFC + Depreciation (B) NDPFC = NNPFC + Net Indirect Taxes (C) GNPMP = GDPMP + Net Factor Income from Abroad (D) NNPFC = NDPMP + Depreciation
    Board 20241 markMCQ
12. Page 14 18. {~«{Q>e emgZ Ho$ Xm¡amZ, ^maV Ho$ {dXoer ì`mnma _| _________ Wt & ([aº$ ñWmZ ^aZo Ho$ {bE ghr {dH$ën H$m M`Z H$s{OE) 1 (A) dñVw CËnmXZ, ì`mnma d àewëH$ H$s à{V~§YmË_H$ Zr{V`m| (B) ^maV Ho$ {Z`m©V d Am`mV na {~«{Q>e EH$m{YH$ma (C) ^maV go eof {díd H…
    Board 20241 markMCQ
13. (A) Read the following statements carefully : Statement 1 : Gross Domestic Product (GDP) is the sum total of the gross market value of all the final goods and services added by all the sectors in the economy during a fiscal year. Statement 2 : Gross Value Adde…
    Board 20231 markMCQ
14. (a) agree with the given statement ? Support your answer with a valid reason. 3 (b) Gross Domestic Product (GDP) using expenditure method, focus lies only on expenditure by the Do you agree with the given statement ? Give valid reasons for your answer.
    Board 20236 markslong answer
15. (a) (i) ·Many goods and services which may contribute to welfare, but are not included in estimating Gross Domestic Product (GDP)." Do you agree with the given statement ? Give valid reason in support of your answer. (i) With suitable examples, distinguish bet…
    Board 20236 markscase-based
16. (a) Value A Value of O 3 OR (b) Find the Value Added by Firm A, from the following information : 3 S. No. Particulars Amount (in < crore) (i) Purchase of factor inputs by Firm A 5 (ii) Purchase of non-factor inputs by Firm A 2 (iii) Sales by Firm A to other fi…
    Board 20233 marksshort answer
17. Goods and Services Factor payments Goods and Services Factor services Factor payments Goods and Services Consumption Expenditure Consumption Expenditure 2. (A) The difference between National Income at market price and National Income at factor cost is _______…
    Board 20231 markMCQ
18. (i) (a) From the following data, calculate the value of Gross National Product at Factor Cost (GNPFC) : S. No. Items Amount in ( Crores) (i) Compensation of Employees 12,000 (i) Rent and Interest 1,800 (ii) Indirect taxes 1,120 (iv) Profits 1,500 (v) Depreciat…
    Board 20221 markMCQ
19. (a) example. 3 OR (b) Distinguish between Real Gross Domestic Product and Nominal Gross Domestic Product, using a suitable numerical example.
    Board 20221 markvery short
20. (a) Estimate the value of Nominal Gross Domestic Product (GDP) for a hypothetical economy. The values of Real Gross Domestic Product (GDP) and Price Index are given as 500 crores and 125 respectively. OR (b) Giving valid reasons explain, which of the following…
    Board 20221 markvery short

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