General Economics 1 Set 5
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This set of General Economics 1 Multiple Choice Questions & Answers (MCQs) focuses on General Economics 1 Set 5
Q1 | Supply curve represents -------- relationship between quantity and price
- Direct
- Inverse
- Either direct or inverse
- None of the above
Q2 | National Income means:
- GNP at Factor Cost
- GNP at Market Price
- NNP at Factor Cost
- NNP at market Price
Q3 | The difference between GDP and NDP equals:
- Transfer payments
- Net indirect taxes
- Net factor income from abroad
- Depreciation
Q4 | Which of the following is true?
- GNP + Depreciation = NNP
- GNP = GDP + Net factor income from abroad
- NDP = GNP minus net indirect taxes
- NNP = DGP minus depreciation
Q5 | NNP is equal to:
- GNP plus Depreciation
- GNP minus depreciation
- GNP minus exports
- GNP plus exports
Q6 | Which of the following is not a method of national income estimation?
- Matrix method
- Income method
- Expenditure method
- Product method
Q7 | An accounting year in India is:
- Calendar year
- Academic year
- Fiscal year
- None of these
Q8 | Increase in real National Income (NI) means increase in:
- NI at current prices
- NI at constant prices
- Both
- None of these
Q9 | Net indirect taxes means:
- Indirect taxes plus subsidies
- Income minus taxes
- Indirect taxes minus subsidies
- Exports minus imports
Q10 | Net factor income from abroad shows the difference between:
- GDP and NDP
- NNP and NDP
- GNP and GDP
- GNP and NNP
Q11 | Per capita income is equal to:
- Population/National income
- National income/population
- National income/GDP
- NNP/GNP
Q12 | National income in India is estimated by:
- RBI
- NSSO
- CSO
- World Bank
Q13 | The first estimate of National income in India was done by:
- K.N. Raj
- V.K.R.V. Rao
- Dadabai Naoroji
- P.C. Mahalanobis
Q14 | Pick the odd one out:
- Real national income
- NI at constant price
- NI at current prices
- NI at base year price
Q15 | GDP deflator is given by:
- Nominal NI/Real NI
- Nominal DGP/Real GDP
- Nominal GDP/ Nominal GNP
- Real GDP/Real GNP
Q16 | Wear and tear of capital due to constant use means:
- Intermediate consumption
- Final consumption
- Depreciation
- Devaluation
Q17 | Value of output minus intermediate consumption is:
- Depreciation
- Value added
- Net value added
- Net exports
Q18 | Personal income minus personal taxes is:
- National Income
- Private income
- Disposable income
- Per capita income
Q19 | Primary sector includes:
- Agriculture
- Industry
- Services
- Banking
Q20 | National income is a --------variable.
- Flow
- Stock
- Static
- Dynamic
Q21 | In India, National income is estimated at:
- Current prices
- Constant prices
- Both current and constant prices
- None of these
Q22 | Which of the following is true:
- GDP is a geographical concept
- GDP is not a geographical concept
- GDP and GNP are same
- None of them
Q23 | GNP measured in terms of current market prices is called:
- Nominal GNP
- Real GNP
- Both
- None
Q24 | In India, the current base year is:
- 1980-81
- 1993-94
- 1999-2000
- 2004-05
Q25 | Which of the following doest not include in the group?
- GDP
- GNP
- GVA
- NDP