Top 10 economic MCQs for most of the competitive exams
Que 1: The National Income of a country is–
(A) Government annual revenue
(B) Total productive income
(C) Surplus of the public sector enterprise
(D) Export and Import
Correct Ans: B
Que 2: The method of calculating the National Income by the product method is otherwise known as–
(A) Income method
(B) Value added method
(C) Expenditure method
(D) Net output method
Correct Ans: D
Que 3: National Income at factor cost is equal to–
(A) Net National Product - Indirect Taxes + Subsidies
(B) Net National Product - Direct Taxes + Subsidies
(C) Gross National Product - Depreciation Charges
(D) Net National Product + Net Income from Abroad
Correct Ans: A
Que 4: While estimating National Income which of the following is not taken into account?
(A) Services of a teacher
(B) Services of a doctor
(C) Services of a housewife
(D) Services of a maid servant
Correct Ans: C
Que 5: Gross National Product is the money measure of–
(A) All tangible goods produced in a country
(B) Final goods and services produced in the economy
(C) Services generated annually in the economy
(D) All tangible goods available in the economy
Correct Ans: B
Que 6: Gross National Product means–
(A) Gross value of finished goods
(B) Money values of the total national production for any given period
(C) Gross value of raw materials
(D) Money value of inputs and outputs
Correct Ans: B
Que 7: Aggregate net value of the output in 1 year is the–
(A) National Income at factor cost
(B) Gross Domestic Product at market prices
(C) Net National Product at market prices
(D) Gross National Product at market prices
Correct Ans: C
Que 8: Net National Product in National Income accounting refers to–
(A) Gross Domestic Product— Depreciation
(B) Gross Domestic Product + Subsidies
(C) Gross Natic a Product—Depreciation
(D) Gross National Product + Subsidies
Correct Ans: C
Que 9: A very high rise in National Income at current market prices and a low rise at constant prices reveals–
(A) The high rate of growth in the economy at the current period
(B) The increased production in the current period
(C) The improper growth of the economy
(D) The high rate of inflation prevailing in the economy
Correct Ans: D
Que 10: Rate of interest is determined by
(A) The rate of return on the capital invested
(B) Central Government
(C) Liquidity preference
(D) Commercial Banks
Correct Ans: C
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