INDIAN SCHOOL DARSAIT

DEPARTMENT OF COMMERCE
Subject :Economics Topic : Unit-4 _National Income and Date of Worksheet :10/5/2022
Related Aggregates
Resource Person: Rejina A K P Date of submission:

Name of the Student :____________________________ Class & Div.: XII__ Roll No. : ___

WORKSHEET
I Short Answer type of Questions(3/4 Marks)
1. What do you mean by macroeconomics?
2. State the scope of macroeconomics?
3. State the differences between micro and macroeconomics.
4. What is the significance of macroeconomics?
5. Differentiate between intermediate goods and final goods.
6. What are the four classifications of consumer goods?
7. What are the differences between consumer goods and capital goods?
8. What is investment?
9. What are the components of investment?
10. What is depreciation?
11. Differentiate between Gross investment and Net investment.
12. What is depreciation Reserve Fund?
13. Differentiate between expected obsolescence and unexpected obsolescence.
14. What are the differences between stock and flow variables?
15. Explain Real flow in a two sector economy.
16. Explain Money flow in a two sector economy.
17. Explain the four sectors of the economy.
18. What do you meant by normal resident of a country?
19. State the differences between domestic income and national income.
20. What is nominal GDP?
21. What is real GDP?
22. What is GDP deflator?
II Long answer type question
23. Explain circular flow of income in a two sector economy.
24. Explain the limitations of GDP as a welfare index.
25. Explain the Product method of estimating national income.
26. Explain the Income method of estimating national income.
27. Explain the Expenditure method of estimating national income.
28. What precautions are necessary while estimating national income by value added method?
29. What precautions are necessary while estimating national income by Income method?
30. What precautions are necessary while estimating national income by Expenditure method?