What is another term for Net National Product (NNP) at market price? a) National Income b) Gross Domestic Product (GDP) c) Personal Income d) Per Capita Income Answer: a) National Income
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 Answer: d) GNP minus depreciation allowances
Which of the following is considered part of the service sector? a) Textile Mills b) Banking c) Coal Mines d) Agriculture Answer: b) Banking
Which sector contributes the most to India’s Gross National Product (GNP)? a) Primary Sector b) Secondary Sector c) Tertiary Sector d) Public Sector Answer: c) Tertiary Sector
Per capita income of a country is derived from: a) National Income b) Population c) Both National Income and Population d) None of these Answer: c) Both National Income and Population
The term “Hindu Rate of Growth” in India is associated with: a) Birth Rate b) Population c) Per Capita Income d) National Income Answer: d) National Income
In India, the tertiary sector includes: a) Banking b) Construction c) Trade d) All of the above Answer: d) All of the above
Which of the following is NOT a method for measuring National Income? a) Value Added Method b) Income Method c) Investment Method d) Expenditure Method Answer: c) Investment Method
The most appropriate reason for income inequalities is: a) Racial factors b) Lack of opportunities c) Family inheritance d) Differences in ability Answer: b) Lack of opportunities
National Income includes: a) Financial aid to earthquake victims b) Child’s pocket money c) Lottery winnings d) Construction of new houses Answer: d) Construction of new houses
National Income of a country refers to: a) Government’s annual revenue b) Total productive income c) Public sector enterprise surplus d) Export and Import balance Answer: b) Total productive income
The aggregate net value of output in one year is known as: a) National Income at Factor Cost b) GDP at Market Price c) Net National Product (NNP) at Market Price d) Gross National Product (GNP) at Market Price Answer: c) Net National Product (NNP) at Market Price
In a highly developed country, the contribution of agriculture to GDP is: a) High b) Moderate c) Low d) None of these Answer: c) Low
Who first estimated National Income in India? a) V.K.R.V. Rao b) Dadabhai Naoroji c) R.C. Dutt d) D.R. Gadgil Answer: b) Dadabhai Naoroji
Which of the following is NOT included in National Income estimation through the income method? a) Rent b) Mixed Incomes c) Pension d) Undistributed Profits Answer: c) Pension
Which method is NOT used for determining National Income? a) Income Method b) Product Method c) Expenditure Method d) Investment Method Answer: d) Investment Method
Which component is NOT a part of National Income? a) Wages and Salaries b) Profits c) Rent d) Interest on National Debt Answer: d) Interest on National Debt
What does Gross Domestic Product (GDP) measure? a) Goods produced in an economy in a year b) Goods and services produced in an economy in a year c) Final goods produced in an economy in a year d) Final goods and services produced in an economy in a year Answer: d) Final goods and services produced in an economy in a year
Which sector’s contribution is the highest in India’s National Income? a) Agriculture b) Industry c) Services d) Manufacturing Answer: c) Services
Which of the following is a transfer payment and not included in National Income? a) Salaries b) Pensions c) Profits d) Rents Answer: b) Pensions
What is considered a leakage in the circular flow of income? a) Investment b) Taxes c) Savings d) Government Expenditure Answer: c) Savings
Which organization is responsible for National Income estimation in India? a) Reserve Bank of India b) Central Statistical Organization (CSO) c) NITI Aayog d) Ministry of Finance Answer: b) Central Statistical Organization (CSO)
Which indicator is best for comparing the standard of living of different countries? a) GDP b) GNP c) Per Capita Income d) National Income Answer: c) Per Capita Income
What does ‘Real National Income’ mean? a) National Income at Current Prices b) National Income at Constant Prices c) Nominal National Income d) Gross National Income Answer: b) National Income at Constant Prices
