CUET-UG SERIES Economics
Income And Expenditure Account
13 previous year questions.
Volume: 13 Ques
Yield: Medium
High-Yield Trend
2
2024 11
2023 Chapter Questions 13 MCQs
01
PYQ 2023
medium
economics ID: cuet-ug-
Match List I with List II
Choose the correct answer from the options given below:
LIST I | LIST II | ||
|---|---|---|---|
| A | Revenue Receipt | I | Increase in Liability |
| B | Capital Receipt | II | Do not increase in Asset |
| C | Revenue Expenditure | III | Increase in Asset |
| D | Capital Expenditure | IV | Do not increase Liability |
Choose the correct answer from the options given below:
1
A-I, B-III, C-II, D-IV
2
A-IV, B-I, C-II, D-III
3
A-II, B-III, C-IV, D-I
4
A-I, B-IV, C-II, D-III
02
PYQ 2023
medium
economics ID: cuet-ug-
Which of the following are to be considered while Measuring Fiscal Deficit?
A. Capital expenditure
B. Revenue receipts
C. Debt creating receipts
D. Revenue expenditure
E. Deficit on current A/c
Choose the correct answer from the options given below:
A. Capital expenditure
B. Revenue receipts
C. Debt creating receipts
D. Revenue expenditure
E. Deficit on current A/c
Choose the correct answer from the options given below:
1
A, B and C only
2
A, B and D only
3
A, B and E only
4
A, D and E only
03
PYQ 2023
medium
economics ID: cuet-ug-
Consider the following as steps in the estimation of National Income of an economy by product value added method. Arrange them in proper sequence.
A) Add net factor income from abroad (NFIA).
B) Calculate cost of secondary inputs of all the sectors.
C) Determine Net Value added at factor cost.
D) Determine Gross Value Added.
E) Calculate value of output of all the sectors.
Choose the correct answer from the options given below:
A) Add net factor income from abroad (NFIA).
B) Calculate cost of secondary inputs of all the sectors.
C) Determine Net Value added at factor cost.
D) Determine Gross Value Added.
E) Calculate value of output of all the sectors.
Choose the correct answer from the options given below:
1
E, D, B, C, A
2
E, B, D, C, A
3
E, D, B, A, C
4
E, C, B, D, A
04
PYQ 2023
medium
economics ID: cuet-ug-
in consumption function is not known as :
1
Autonomous consumption Expenditure
2
Slope of consumption Function
3
Interception of the consumption Function
4
Consumption at zero level of Income
05
PYQ 2023
medium
economics ID: cuet-ug-
A consumer wants to consume two goods X and Y. The price of the goods are ₹2 per unit and ₹5 per unit respectively and his income is ₹30. What will be the slope of the budget line?
1
-0.5
2
-0.4
3
-5
4
-2
06
PYQ 2023
medium
economics ID: cuet-ug-
In an economy, the consumption function is C=500+0.75Y. Calculate equilibrium level of income, when investment expenditure is ₹ 5,000.
1
₹ 21,000
2
₹ 22,000
3
₹ 20,000
4
₹ 2,250
07
PYQ 2023
medium
economics ID: cuet-ug-
Among the following expenditures one expenditure comes under capital expenditure, choose the correct option.
1
Expenditure on Vaccination being provided free of cost to prevent Covid-19
2
Expenditure on Ujjwala Scheme
3
Free ration to poor people by the Government during Covid-19
4
Expenditure on construction of Delhi- Mumbai corridor
08
PYQ 2023
medium
economics ID: cuet-ug-
Identify the incorrect statement in the context of circular flow of Income:
(A) Household provides factor services to firms
(B) Household receives goods & services from firms
(C) Firms receives factor payments from households
(D) Factor services includes : land, labour, Capital and Entrepreneur
(E) In a simple economy, there are three sectors : Household, Firms & Government
Choose the correct answer from the options given below :
(A) Household provides factor services to firms
(B) Household receives goods & services from firms
(C) Firms receives factor payments from households
(D) Factor services includes : land, labour, Capital and Entrepreneur
(E) In a simple economy, there are three sectors : Household, Firms & Government
Choose the correct answer from the options given below :
1
(A) & (C) only
2
(B) & (C) only
3
(C) & (E) only
4
(D) & (E) only
09
PYQ 2023
medium
economics ID: cuet-ug-
Multiplier being 5 times, an incremental investment of ₹ 100 crores leads to an incremental income of-
1
₹ 200 crores
2
₹ 300 crores
3
₹ 400 crores
4
₹ 500 crores
10
PYQ 2023
medium
economics ID: cuet-ug-
The ratio of the total increment in equilibrium value of final goods output to the initial increment in autonomous investment expenditure is called the ______ of the economy
1
Consumption function
2
Saving function
3
Investment multiplier
4
Aggregate demand
11
PYQ 2023
medium
economics ID: cuet-ug-
Choose the correct example of Revenue Expenditure.
1
Excise duty
2
Post office savings Accounts
3
Payment of salary to staff of government hospital
4
Recovery of loans
12
PYQ 2024
easy
economics ID: cuet-ug-
Paradox of Thrift implies:
1
If all the people of the economy increase the proportion of income they save, the total value of investment in the economy will not increase, it will either decline or remain unchanged.
2
If all the people of the economy increase the proportion of income they spend, the total value of savings in the economy will not increase, it will either decline or remain unchanged.
3
If all the people of the economy decrease the proportion of income they save, the total value of savings in the economy will not increase, it will either decline or remain unchanged.
4
If all the people of the economy increase the proportion of income they save, the total value of savings in the economy will not increase, it will either decline or remain unchanged.
13
PYQ 2024
medium
economics ID: cuet-ug-
Value of MPS (Marginal Propensity to Save) is increased from 0.4 to 0.5. What would be the impact on Multiplier ?
1
The size of the multiplier would be increased
2
The size of the multiplier would remain the same
3
Value of multiplier is undetermined
4
The size of the multiplier would be decreased
About Income And Expenditure Account - CUET-UG
Income And Expenditure Account is a vital chapter for CUET-UG aspirants. Mastering the concepts covered in this chapter is essential for securing a top rank.
By rigorously practicing the previous year questions associated with this chapter, you can identify high-yield topics, understand the examiner's perspective, and boost your confidence during the actual exam.
Frequently Asked Questions
Why focus on Income And Expenditure Account PYQs?
Analyzing PYQs for this specific chapter reveals the most frequently tested concepts and the typical complexity of questions, allowing you to tailor your study plan efficiently.
How to best use this analysis?
Review the topic breakdown to see which sub-topics within Income And Expenditure Account carry the most weight. Then, tackle the questions iteratively to solidify your understanding.