( Best 60+ ) National Income MCQ

by Mr. DJ

National Income MCQ

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National Income MCQ

National Income MCQ

11. Which Ministry is responsible for calculating GDP in India?

A. Ministry of Finance

B. Ministry of Commerce and Industry

C. Ministry of Central Statistical and Program Implementation (Central statistical organization)

D. Ministry of consumer Affairs

12. Which statement is true?

A. National Expenditure = National income

B. National Expenditure = National income + National savings

C. National Expenditure = National income + Taxes

D. National Expenditure = National income – Taxes

13. Which statement is true?

A. National Income = National expenditure – indirect taxes


C. NI = NNP – indirect taxes (because, from NNP if we minus the indirect taxes it will give us NNP@FC which is equal to NI)

D. NI = PI

14. There are methods of measuring national income:

A. 5

B. 2

C. 1

D. 3

15. If we compare GDP and GNP, then:

A. GNP = GDP – net income from abroad

B. GNP = GDP + net income from abroad (R-P)……. GDP+(R-P)

C. GNP = NNP – net income from abroad

D. GNP = NNP + net income from abroad

16. Select the correct statement:

A. Transfer payment are included in national income

B. Depreciation allowance is a part of GNP

C. Taxes are not included in NNP

D. GDP means Gross Direct Production

17. Which is the largest figure:



C. PI (Disposable Personal Income)

D. PI (personal income)

18. Which is a flow concept:

A. Number of my shirts

B. My total wealth

C. My monthly income

D. Money supply

19. To avoid double counting when GDP is estimated, economists:

A. Use GDP deflator

B. Calculate value added at each stage of production

C. Use retail prices

D. Use price of only intermediate goods

20. Personal income includes:

A. Direct taxes

B. Indirect taxes

C. Depreciation

D. None of these

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