Economic MCQs with answers Page - 11

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Q. A rising Per Capita Income will indicate a better welfare, if it is accompanied by–

  • (A) changed income distribution in favour of rich
  • (B) unchanged income distribution overall
  • (C) changed income distribution in favour of poor
  • (D) changed income distribution in favour of industrial labour

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Q. Which one of the following is not method of estimating Nations Income?

  • (A) Expenditure method
  • (B) Product method
  • (C) Matrix method
  • (D) Income method

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Q. National Income Estimates in India are prepared by–

  • (A) National Development Council
  • (B) National Productivity Council
  • (C) National Income Committee
  • (D) Central Statistical Organisation

A

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Q. National Income include–

  • (A) financial help to earthquake victims
  • (B) pocket money of a child
  • (C) winning of a lottery prize
  • (D) construction of a new house

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Q. Depreciation is equal to–

  • (A) Gross National Product — Net National Product
  • (B) Net National Product — Gross National Product
  • (C) Gross National Product — Personal Income
  • (D) Personal Income — Personal Taxes

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Q. Net National Product (NNP) of a country is–

  • (A) GDP minus Depreciation allowances
  • (B) GDP plus Net Income from abroad
  • (C) GNP minus Net Income from abroad
  • (D) GNP minus Depreciation allowances

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Q. Personal Disposable income is–

  • (A) Always equal to Personal Income
  • (B) Always more than Personal Income
  • (C) Equal to Personal Income minus Indirect Taxes
  • (D) Equal to Personal Income minus Direct Taxes

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Q. Which of the following is not included in the National Income?

  • (A) Imputed rent of owner-occupied houses
  • (B) Government expenditure on making new bridges
  • (C) Winning a lottery
  • (D) Commission paid to an agent for sale of house

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Q. GDP at factor cost is–

  • (A) GDP minus Indirect Taxes plus Subsidies
  • (B) GDP minus Depreciation allowances
  • (C) NNP plus Depreciation allowances
  • (D) GDP minus Subsidies plus Indirect Taxes

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Q. Which of the statements is correct about India’s National Income?

  • (A) Percentage share of agriculture is higher than services
  • (B) Percentage share of industry is higher than agriculture
  • (C) Percentage share of services is higher than industry
  • (D) Percentage share of services is higher than agriculture and industry put together

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