| 1. | National income can be calculated by all the methods except which one of the following |
A. Sum of all savings | |
B. Sum of all outputs | |
C. Sum of all expenses | |
D. Sum of all types of income |
| 2. | Which of the following is not included in national income? |
A. Imputed rent of owner occupied houses | |
B. Government expenditure on construction of new bridges | |
C. Winning the lottery | |
D. Commission paid to an agent for the sale of a house |
| 3. | To get per capita income, national income is divided by – |
A. From the total population of the country | |
B. Of total working population | |
C. By country area | |
D. By the amount of capital employed |
| 4. | Which statement is correct about the national income of India? |
A. Agriculture has a higher percentage share than services | |
B. The percentage share of industry is higher than that of agriculture. | |
C. Services have a higher percentage share than industry | |
D. Services have a higher percentage share than agriculture and industry combined |
| 5. | The poor save more than the rich |
A. Relatively large portion of their income | |
B. Of an equal share of its income | |
C. A relatively small portion of your income | |
D. All of your income |
| 6. | Which one is the correct decreasing order of contribution of the following sectors to the GDP of India? |
A. Service – Industry – Agriculture | |
B. Service – Agriculture – Industry | |
C. Industry – Service – Agriculture | |
D. Industry – agriculture – service |
| 7. | The current base year for estimating the Gross Domestic Product (GDP) at constant prices in India is – |
A. 2011-2012 | |
B. 2000-2001 | |
C. 2002-2003 | |
D. 2006-2007 |
| 8. | Which of the following sector contributes the most to the Gross Domestic Product (GDP) of India? |
A. Primary sector | |
B. Secondary sector | |
C. Tertiary sector | |
D. Equal contribution of all three |
| 9. | Consider the following statements about Gross Domestic Product 1. It is the market value of all goods made and services provided within a country’s borders in a year 2. It is the market value of all other goods and services produced within the country in a stipulated time period Total expenses for services is equal to which of the above statements is correct |
A. Only 1 | |
B. Only 2 | |
C. Both 1 and 2 only | |
D. Neither 1 nor 2 |
| 10. | Depreciation is equal to- |
A. Gross national product – net national product | |
B. Net national product – gross national product | |
C. Gross National Product – Personal Income | |
D. Personal Income – Personal Tax |