- 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