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Ans – (b) Explanation:- Change in Stock = Closing Stock – Opening Stock Change in Stock = ₹ 100 – ₹ 200 Change in Stock = ₹ (-) 100

Ans – (c) Explanation:- National Statistical Office (NSO) is authorised to calculate National Income of India.

Ans – (b) Explanation:- Now CPI is rising to 5% as compared to 8% than a previous year.

Ans – (a) Explanation:- Expenditure on maintenance by a firm is the intermediate expenditure. Its cost is added to the final goods and services produced by the firm. (b) The purchase of furniture by a firm is the final good…

Ans – (b) Explanation:- Corporation tax is already included in the profit. Adding it separately to the national income would result in double counting. National Income = Compensation of Employees + Mixed Income + Rent (Royalty) + Interest + Profits…

Ans – (c) Explanation:- Broker provides his expertise services that help in the sale and purchase of financial assets. His services are productive services and add to the current flow of goods and services in the economy. Thus, broker’s commission…

Ans – (a) Explanation:- A Festival gift from the employer is the transfer payment as employees do not provide any productive (factor) services against it. House rent allowance and payment of bonus to employees are part of wages and salaries…

Ans – (d) Explanation:- A loan taken from a bank by an individual for a car is for consumption purposes. The car is used for personal purposes and is not used for any productive purposes. Thus, the interest paid on…

Ans – (b) Explanation:- Employees working permanently in an international organisation are considered as residents of the country where this international organisation is situated. Thus, an Indian working permanently in UNESCO office in New York is a resident of the…

Ans – (d) The double counting can be avoided in two ways. i) only counting the value of the Final Output ii) Counting only value-added it also means not counting the value of intermediate products. For Example:- The farmer produces…