National Income MCQ

Table of Contents

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National Income MCQ

National Income MCQ

21. Personal income includes:

A. Transfer payments

B. Indirect taxes

C. Depreciation

D. All of the above

Answer: –

A. Transfer payments

22. If savings exceed investment then:

A. National income rises

B. National income falls

C. National income is not affected

D. None of the above

Answer: –

B. National income falls

23. This statement is true

A. NI = rent + interest + wages + profit

B. NI = rent + interest + wages + taxes

C. NI = Govt. expenditure + interest + wages + profit

D. NI = rent + interest + wages + pensions

Answer: –

A. NI = rent + interest + wages + profit

24. 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

D. Ministry of consumer Affairs

Answer: –

C. Ministry of Central Statistical and Program Implementation

25. An Indian farmer produces wheat without incurring cost of inputs all sells for Rs. 1,000 to a miller who grinds wheat into flour and sells for Rs 1,200 to baker. The baker sells bread to consumers for Rs. 1,600. Total added is Rs.

A. 1,600

B. 2,200

C. 1,000

D. 1,400

Answer: –

A. 1,600

26. How much does the primary sector contribute to India’s GDP?

A. 26%

B. 20%

C. 53%

D. 14%

Answer: –

B. 20%

27. Which sector contributes the most to India’s economy?

A. Service sector

B. Manufacturing sector

C. Agricultural sector

D. Small scale industries

Answer: –

A. Service sector

28. If the contribution of the agricultural sector is decreasing in a country’s economy, then what
conclusion can be drawn?

A. The country is growing in the direction of being a developed nation

B. The country is moving towards becoming developing nation

C. The country is moving towards becoming less developed nation

D. The economic growth rate of the country has stopped

Answer: –

A. The country is growing in the direction of being a developed nation

29. Which is not added in the calculation of national income of India?

A. The value of goods and services

B. The sold value of the old fridge

C. Services rendered by the housewives

D. Both b & c

Answer: –

D. Both b & c

30. Output means. ……………unless stated otherwise

A. Gross output at MP (GDPmp)

B. Net output at MP

C. Gross output at FC

D. None

Answer: –

A. Gross output at MP (GDPmp)

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I Am Dinesh Jat ( Mr. DJ). Completed Mcom. And Currently Pursuing MBA. Interest In Writing Blogs And Spread knowledge To the People. I Want to Provide General Awareness With The People who Are preparing for competitive Exams At a place.

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