- 9 Sections
- 72 Lessons
- Lifetime
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- Section 1: National Income and Related Aggregates — Introductory MacroeconomicsThis section introduces the basic concepts of national income, helping students understand how a country’s economic performance is measured. It covers key aggregates such as GDP, GNP, NNP, and national income, along with methods of measurement—value added, income, and expenditure methods. Students also learn about circular flow of income, real vs nominal GDP, and the relationship between national income and economic welfare. The chapter builds a strong foundation for macroeconomic analysis and is essential for CBSE board exam preparation.8
- 1.1National Income and Related Aggregates MCQs with Answers (NCERT Based)
- 1.2Class 12 Economics National Income Multiple Choice Questions
- 1.3National Income Objective Questions for CBSE Board Exam
- 1.4GDP, GNP & NNP MCQs with Answers Class 12
- 1.5Methods of Measuring National Income MCQs Practice
- 1.6Real vs Nominal GDP MCQs (NCERT Based)
- 1.7Circular Flow of Income MCQs with Answers
- 1.8Important National Income MCQs for Board Exams
- Section 2: Money and Banking — Introductory MacroeconomicsThis section explains the role of money in modern economies and the functioning of the banking system. It covers the meaning, functions, and supply of money, along with the process of credit creation by commercial banks. Students also learn about the role and tools of the central bank, especially monetary policy and its impact on inflation and economic stability. The chapter builds conceptual clarity essential for macroeconomic understanding and CBSE board exams.8
- 2.1Money and Banking MCQs with Answers Class 12 Economics
- 2.2Functions of Money Objective Questions (NCERT Based)
- 2.3Supply of Money MCQs Practice Questions
- 2.4Commercial Banking MCQs with Answers
- 2.5Credit Creation MCQs Class 12 Economics
- 2.6Central Bank & RBI Functions MCQs
- 2.7Monetary Policy Objective Questions
- 2.8Important Money and Banking MCQs for Board Exam
- Section 3: Determination of Income and Employment — Introductory MacroeconomicsThis section explains how the level of national income and employment is determined in an economy. It focuses on aggregate demand and aggregate supply, equilibrium income, and the Keynesian approach to income determination. Students also learn about the investment multiplier and situations of excess and deficient demand, along with measures to correct them. The chapter is vital for understanding macroeconomic equilibrium and policy interventions for CBSE board exams.8
- 3.1Determination of Income and Employment MCQs with Answers
- 3.2Aggregate Demand & Aggregate Supply MCQs
- 3.3Keynesian Theory Objective Questions Class 12
- 3.4Equilibrium Level of Income MCQs Practice
- 3.5Investment Multiplier MCQs with Answers
- 3.6Excess Demand & Deficient Demand MCQs
- 3.7Inflationary & Deflationary Gap MCQs
- 3.8Important Income Determination MCQs for Board Exam
- Section 4: Government Budget and the Economy — Introductory MacroeconomicsThis section explains the role of the government in managing the economy through its budget. It covers the meaning and objectives of the government budget, types of receipts and expenditures, and various budget deficits such as fiscal, revenue, and primary deficit. Students also learn how fiscal policy influences economic growth, stability, and income distribution—an important area for CBSE board exam preparation.8
- 4.1Government Budget and Economy MCQs with Answers
- 4.2Objectives of Government Budget Objective Questions
- 4.3Revenue & Capital Receipts MCQs
- 4.4Revenue & Capital Expenditure MCQs
- 4.5Fiscal Deficit, Revenue Deficit MCQs
- 4.6Budget Deficit Objective Questions Class 12
- 4.7Public Finance MCQs Practice
- 4.8Important Government Budget MCQs for Board Exams
- Section 5: Balance of Payments — Introductory MacroeconomicsThis section explains a country’s economic transactions with the rest of the world through the Balance of Payments (BoP). It covers BoP components—current account and capital account—along with balance of trade, foreign exchange rates, and causes of BoP disequilibrium. Students also learn corrective measures to manage external imbalances, making this chapter important for understanding international economic relations and CBSE board exams.8
- 5.1Balance of Payments MCQs with Answers Class 12
- 5.2Components of BoP Objective Questions
- 5.3Current Account vs Capital Account MCQs
- 5.4Balance of Trade MCQs Practice
- 5.5Disequilibrium in BoP MCQs
- 5.6Foreign Exchange Rate MCQs with Answers
- 5.7Devaluation & Appreciation Objective Questions
- 5.8Important Balance of Payments MCQs for Board Exam
- Section 6: Development Experience (1947–90) — Indian Economic DevelopmentThis section examines India’s economic conditions at independence and the development strategies adopted from 1947 to 1990. It covers economic planning, Five Year Plans, and sectoral growth in agriculture, industry, and foreign trade. Students understand the achievements and limitations of the planned development model, forming a foundation for analyzing later economic reforms and CBSE board exam concepts.8
- 6.1Indian Economy on the Eve of Independence MCQs
- 6.2Development Experience of India 1947–90 MCQs
- 6.3Economic Planning in India Objective Questions
- 6.4Five Year Plans MCQs with Answers
- 6.5Agriculture & Industrial Development MCQs
- 6.6Public Sector & Trade Policy MCQs
- 6.7Sectoral Development MCQs Practice
- 6.8Important 1947–90 Economy MCQs for Board Exam
- Section 7: Economic Reforms since 1991 — Indian Economic DevelopmentThis section discusses the New Economic Policy introduced in 1991 to address India’s economic crisis. It focuses on Liberalisation, Privatisation, and Globalisation (LPG reforms), along with changes in trade, industry, and foreign investment policies. Students also examine the impact of these reforms on growth, employment, and global integration—an essential topic for CBSE board exam preparation.8
- 7.1Economic Reforms since 1991 MCQs with Answers
- 7.2LPG Reforms MCQs Class 12 Economics
- 7.3Liberalisation Privatisation Globalisation Objective Questions
- 7.4New Economic Policy 1991 MCQs Practice
- 7.5Globalisation & WTO MCQs
- 7.6Impact of Economic Reforms MCQs
- 7.7Post-Reform Growth Objective Questions
- 7.8Important Economic Reforms MCQs for Board Exam
- Section 8: Current Challenges Facing Indian Economy — Indian Economic DevelopmentThis section highlights the major issues confronting the Indian economy today, including poverty, unemployment, human capital formation, rural development, infrastructure, and sustainable development. It helps students understand the nature, causes, and policy measures related to these challenges, building analytical insight essential for CBSE board exam preparation.8
- 8.1Current Challenges Facing Indian Economy MCQs
- 8.2Poverty in India MCQs with Answers
- 8.3Human Capital Formation MCQs
- 8.4Rural Development MCQs Practice
- 8.5Employment & Unemployment MCQs
- 8.6Infrastructure in India Objective Questions
- 8.7Sustainable Development MCQs
- 8.8Important Indian Economic Challenges MCQs
- Section 9: Development Experience of India – Comparison with Neighbours — Indian Economic DevelopmentThis section compares India’s development experience with neighbouring countries, particularly China and Pakistan. It examines differences in growth strategies, sectoral development, population policies, and human development indicators. The chapter helps students evaluate India’s economic performance in a global context and strengthens comparative analytical skills for CBSE board exams.8
- 9.1India vs China vs Pakistan Economy MCQs
- 9.2Comparative Development Experience MCQs
- 9.3India and Neighbouring Countries Objective Questions
- 9.4Sectoral Growth Comparison MCQs
- 9.5Human Development Indicators MCQs
- 9.6Economic Growth Strategies Comparison MCQs
- 9.7India China Pakistan Development Practice MCQs
- 9.8Important Comparative Development MCQs
Important National Income MCQs for Board Exams
Important National Income MCQs for Board Exams
Class: CBSE Class 12
Subject: Economics
Section: National Income and Related Aggregates — Introductory Macroeconomics
Topic: Important National Income MCQs
Exam Focus: CBSE Board Examinations | Strictly NCERT Based
Subject: Economics
Section: National Income and Related Aggregates — Introductory Macroeconomics
Topic: Important National Income MCQs
Exam Focus: CBSE Board Examinations | Strictly NCERT Based
1. National Income is measured as:
A. NDP at MP
B. NNP at FC
C. GDP at FC
D. GNP at MP
B. NNP at FC
C. GDP at FC
D. GNP at MP
Answer: B
NNP at Factor Cost represents total factor income earned by residents.
NNP at Factor Cost represents total factor income earned by residents.
2. GDP measures production within:
A. Nation
B. Domestic territory
C. World
D. Asia
B. Domestic territory
C. World
D. Asia
Answer: B
3. GNP includes:
A. NFIA
B. Depreciation
C. Taxes
D. Subsidies
B. Depreciation
C. Taxes
D. Subsidies
Answer: A
4. Value added avoids:
A. Inflation
B. Double counting
C. Taxes
D. Subsidy
B. Double counting
C. Taxes
D. Subsidy
Answer: B
5. Depreciation is:
A. Capital gain
B. Capital loss
C. Tax
D. Profit
B. Capital loss
C. Tax
D. Profit
Answer: B
6. Disposable Income =
A. PI – Direct Taxes
B. NI – Taxes
C. GDP – Depreciation
D. NNP – NFIA
B. NI – Taxes
C. GDP – Depreciation
D. NNP – NFIA
Answer: A
7. Transfer payments are:
A. Factor income
B. One‑sided payments
C. Profit
D. Rent
B. One‑sided payments
C. Profit
D. Rent
Answer: B
8. Real GDP uses:
A. Current prices
B. Constant prices
C. Market prices
D. Factor cost
B. Constant prices
C. Market prices
D. Factor cost
Answer: B
9. Income method sums:
A. Spending
B. Factor incomes
C. Output
D. Taxes
B. Factor incomes
C. Output
D. Taxes
Answer: B
10. Expenditure method includes:
A. C + I + G + (X–M)
B. W + R + I + P
C. Output – Input
D. GDP – Depreciation
B. W + R + I + P
C. Output – Input
D. GDP – Depreciation
Answer: A
11. Savings are:
A. Injection
B. Leakage
C. Income
D. Output
B. Leakage
C. Income
D. Output
Answer: B
12. Investment is:
A. Leakage
B. Injection
C. Tax
D. Import
B. Injection
C. Tax
D. Import
Answer: B
13. GDP Deflator measures:
A. Inflation
B. Output
C. Income
D. Profit
B. Output
C. Income
D. Profit
Answer: A
14. NFIA means:
A. Net Factor Income from Abroad
B. National Fiscal Income Account
C. Net Foreign Investment Asset
D. None
B. National Fiscal Income Account
C. Net Foreign Investment Asset
D. None
Answer: A
15. Mixed income belongs to:
A. Corporations
B. Self‑employed
C. Govt
D. Foreigners
B. Self‑employed
C. Govt
D. Foreigners
Answer: B
16. Per capita income =
A. GDP/Population
B. GDP×Population
C. NI×Population
D. NI/Area
B. GDP×Population
C. NI×Population
D. NI/Area
Answer: A
17. National income excludes:
A. Second‑hand goods
B. Services
C. Final goods
D. Profits
B. Services
C. Final goods
D. Profits
Answer: A
18. Domestic income =
A. NDP at FC
B. GDP at MP
C. GNP
D. NI
B. GDP at MP
C. GNP
D. NI
Answer: A
19. Indirect taxes increase:
A. Factor cost
B. Market price
C. Subsidy
D. Income
B. Market price
C. Subsidy
D. Income
Answer: B
20. Subsidies reduce:
A. Market price
B. Factor cost
C. Income
D. Output
B. Factor cost
C. Income
D. Output
Answer: A