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Economic MCQ Questions with answers

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Learn Economic MCQs [Page 3 of Department 2]

21) 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 Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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22) 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 Answer - Option (B)

No Explanation found. Add Explanation and get +2 points.

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23) 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 Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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24) 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 Answer - Option (A)

No Explanation found. Add Explanation and get +2 points.

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25) 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 Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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26) 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 Answer - Option (B)

No Explanation found. Add Explanation and get +2 points.

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27) 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 Answer - Option (B)

No Explanation found. Add Explanation and get +2 points.

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28) 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 Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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29) 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 Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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30) 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 Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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