Principles Of Economics And Management (3140709) MCQs

MCQs of Markets and National Income

Showing 21 to 30 out of 34 Questions
1 2 3 4
21.
What do you mean by Gross National Product?
(a) The total value of goods and services produced in the country.
(b) The total value of all transactions in the country.
(c) Depreciation in the total value of goods and services produced in the country.
(d) The total value of goods and services produced in the country and net factor income from abroad.
Answer:

Option (d)

22.
When national income is calculated with reference to a base year, it is called :
(a) Nominal national income
(b) Net national income
(c) Real national income
(d) Gross national income
Answer:

Option (c)

23.
Net National Product equals to
(a) Gross National Product adjusted for inflation.
(b) Gross Domestic Product adjusted for inflation.
(c) Gross Domestic Product plus net property income from abroad.
(d) Gross National Product minus depreciation.
Answer:

Option (d)

24.
The standard of living is often measured by
(a) Real GDP per capita
(b) Real GDP
(c) Real GDP * population
(d) Real GDP plus depreciation
Answer:

Option (a)

25.
GDP measures
(a) A country's income
(b) A country's wealth
(c) Consumer spending
(d) Net trade income
Answer:

Option (a)

26.
To adjust from Net National Product to Gross National Product
(a) Add depreciation
(b) Deduct indirect taxes
(c) Add subsidies
(d) Add inflation
Answer:

Option (a)

27.
In India national income data compilation is done by
(a) Ministry of Finance
(b) Ministry of Commerce and Industry
(c) Central Statistical Organization
(d) Consumer Statistical Organization
Answer:

Option (b)

28.
Currently (In 2019-20 ) What base year is used to calculate per capita income in India?
(a) 2004-05
(b) 2011-12
(c) 2014-15
(d) 2019-20
Answer:

Option (b)

29.
The net value after deducting depreciation from GDP is
(a) Net national product
(b) Net domestic product
(c) Gross national product
(d) Disposable income
Answer:

Option (b)

30.
The value of national income adjusted for inflation is called
(a) Per capita income
(b) Disposable income
(c) Inflation rate
(d) Real national income
Answer:

Option (d)

Showing 21 to 30 out of 34 Questions
1 2 3 4