10 Important Economic MCQs for Most of the competitive examinations

By - admin | Category: Economic

In this article 10 important MCQs of Economics are added which are frequently asked in almost all examinations. Each question has four options and the right answer is below each question. Learn this MCQs on economics hear.

Que 1: An individual’s actual standard of living can be assessed by–

(A) Gross National Income
(B) Net National Income
(C) Per Capita Income
(D) Disposable Personal Income

Correct Ans: C

Que 2: 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

Correct Ans: C

Que 3: Which one of the following is not method of estimating Nations Income?

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

Correct Ans: C

Que 4: National Income Estimates in India are prepared by–

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

Correct Ans: D

Que 5: 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

Correct Ans: D

Que 6: 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

Correct Ans: A

Que 7: 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

Correct Ans: D

Que 8: 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

Correct Ans: D

Que 9: 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

Correct Ans: C

Que 10: 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

Correct Ans: A

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10 Important Economic MCQs for Most of the competitive examinations

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