10 Important Economic MCQs for Most of the competitive examinations
Que 1: 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
Correct Ans: D
Que 2: 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
Correct Ans: D
Que 3: The term ‘Green GNP’ emphasises–
(A) Rapid growth of GNP
(B) Increase in Per Capita Income
(C) Economic Development
(D) Sustainable Development
Correct Ans: D
Que 4: Who among the following Indian economists has done pioneering work on National Income?
(A) Jagdish Bhagwati
(B) ML Seth
(C) Amartya Sen
(D) VKRV Rao
Correct Ans: D
Que 5: In calculating National Income, which of the following is included?
(A) Services of housewives
(B) Pensions
(C) Income of smugglers
(D) Income of watchmen
Correct Ans: D
Que 6: Which of the following is not required while computing Gross National Product (GNP)?
(A) Net foreign investment
(B) Private investment
(C) Per Capita Income of citizens
(D) Purchase of goods by government
Correct Ans: C
Que 7: Which of the following results by dividing National Income by size of population?
(A) Per Capita Income
(B) Subsistence level
(C) Subsistence expenditure
(D) Per capita production
Correct Ans: A
Que 8: What does National Income mean?
(A) The total value of all goods and services produced in the country during a period of 1 year
(B) The total value of all stocks and shares in the country during a period of 1 year
(C) The total value of all capital goods produced in the country during a period of 1 year
(D) The total value of all consumer goods produced in the country during a period of 1 year
Correct Ans: A
Que 9: The difference between the GNP and the NNP is equal to the–
(A) Consumer expenditure on durable goods
(B) Direct tax revenue
(C) Indirect tax revenue
(D) Capital depreciation
Correct Ans: D
Que 10: National Income refers to–
(A) Money value of goods and services produced in a country during a year
(B) Money value of stocks and shares of a country during a year
(C) Money value of capital goods produced by a country during a year
(D) Money value of consumer goods produced by a country during a year
Correct Ans: C
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