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Ans – (c) Intermediate goods are still within the production boundary and are not ready for use by their final users.

Ans – (b) Net Indirect Taxes = Indirect Taxes – Subsidies

Ans – (c) Solution:- Net Factor income from abroad = Factor income from abroad – Factor income to abroad ₹ 200 = Factor income from abroad – ₹ 40 Factor income from abroad = ₹ 240 Crores

Ans – (c) A car purchased by a household is a durable consumer good as consumer would avail its services for many years.

Ans – d) Scholarship given to the students is not a factor payment as no productive service or goods are provided against it. Free uniform to defence personnel is the factor payment as they provide services to the nation against…

Ans – (d) Foreign Embassies in India are part of the domestic territory of their native country. For example, the Japanese embassy in India is the part of domestic (economic) territory of Japan, not india.

Ans – (c) Final goods are the purchased for the consumption purpose by households and investment purpose by firm (producer).

Ans – (d) Fall in the market value of the motor vehicle is caused by all four reasons such as normal wear and tear, passgae to time and expected obsolescence.  

Ans – (a) Change in demand and change in technology are the expected obsolescence. But Natural Calamities is the unexpected obsolescence.

Ans – (d) Final goods are used by households, firms and government.