2350 National Income-Economics Register For Free Quiz NamePhone NumberEmail 1 / 35 1. The difference between value of output and value added is: A) Depreciation B) Intermediate consumption C) Net indirect taxes D) NFIA 2 / 35 2 Product method of calculating national income is also known as: A) Income method B) value added method C) Expenditure method D) Distribution method 3 / 35 3 Transfer payments refer to payments, which are made: A) Without any exchange of goods and services B) To workers on transfer from one job to another C) As compensation to employees D) None 4 / 35 4 National Income differs from Net National Product at market price by the amount of: A) Current transfers from rest of the world B) Net Indirect Taxes C) National debt interest D) it does not differ 5 / 35 5 National Income doesn’t include: A) Interest on unproductive national debt B) Income for government expenditure C) The payments by the household to firm for the purchase of goods and services D) Undistributed profit 6 / 35 6 Net national product at factor cost is also known as: A) Net Domestic product B) Gross National product C) National Income D) Personal Income 7 / 35 7 In GNP calculation which of the following should be excluded? A) Rental incomes B) Interest payments C) Dividends D) Government transfer payment 8 / 35 8 Identify the right statement from the following:- i. National income is the monetary value of all final goods and services produced. ii. Depreciation is deducted from gross value to get the net value. A) I only B) II only C) Both D) None 9 / 35 9 What is the net value of GDP after deducting depreciation from GDP is A) Net national product B) Net domestic product C) Gross national product D) Disposable income 10 / 35 10 The national income estimation is the responsibility of A) Finance Ministry B) Central Statistical Organisation C) NSSO D) National Income Committee 11 / 35 11 Which of the following is not correct ? A) NNPMP = GNPMP. depreciation B) NNPMP = NNPFC + net indirect taxes C) GDPMP = GNPMP + NFIA D) NDPFC = GDPFC – depreciation 12 / 35 12 GDPMP = GDP + ________ A) Depreciation B) Indirect taxes C) NFIA D) Subsidies 13 / 35 13 The most appropriate measure of a country’s economic growth is A) GDP B) NDP C) GNP D) Per capita real Income 14 / 35 14 As per the CSO classification, which of the following does not fall under industrial sector? A) Electricity B) gas and water supply C) transport and communication D) manufacturing 15 / 35 15 Which of the following is added to national income while calculating personal income? A) Transfer payments to individuals B) Social security contributions C) Corporate taxes D) Undistributed profits 16 / 35 1. National Income estimation in India is done by : A) Central Statistical Organisation B) Ministry of Finance C) Reserve Bank of India D) Planning Commission 17 / 35 2. GDPMP = GDPFC + ................. : A) Subsidies B) NFIA C) Depreciation D) Net Indirect Tax 18 / 35 3. GNP is equal to ................. plus Net foreign income from abroad. A) national income B) NNP at factor cost C) NNP at market price D) GDP 19 / 35 4. In country ‘X’, if NNP at market price remained constant and depreciation increased compared to the previous year, then GNP at market prices will A) increase B) decrease C) increase by an amount equal to rise in depreciation D) decrease by an amount equal to rise in depreciation 20 / 35 5. The most important problem in Estimating GNP is : A) Unorganised market B) Smuggling C) Black marketing D) Double counting 21 / 35 6. Which one of the following is correct? A) NNPMP= NNPFC - Depreciation B) NNPMP = NNPFC - NIT C) NNPMP-NNPFC + Depreciation D) NNPFC = NNPMP - NIT 22 / 35 7. GDP at Factor Cost = GDP at Market Price minus indirect taxes plus A) operating surplus B) subsidies C) income from abroad D) transfer payments 23 / 35 8.GNP at factor cost minus depreciation is equal to. A) NDP at factor cost B) NNP at market price C) NNP at factor cost D) GDP at factor cost 24 / 35 9.NNP at factor cost plus ................. is equal to NNP at market price. A) subsidies and indirect taxes B) subsidies C) indirect taxes minus subsidies D) indirect taxes 25 / 35 10.Goods and services for final consumption are: A) Consumer goods B) None C) Produced goods D) Giffen goods 26 / 35 11.Real national income means the national income measured in terms of. A) Retail prices B) Constant prices C) Current prices D) Wholesale prices 27 / 35 12.Which one of the following is correct? A) GNPFC = GNPMP + Subsidies - indirect taxes B) GNPFC = GNPMP + Subsidies + indirect taxes C) GNPFC = GNPMP + Subsidies D) GNPFC = GNPMP - Subsidies + indirect taxes 28 / 35 13.National dividend is sum of the money value of all ................. goods & services produced by the residents of a country during a period of one year including income derived from abroad. A) consumer’s B) intermediate C) producer’s D) final 29 / 35 14.The most important problem of estimating National Income is.. A) Double Counting B) Unorganised Market C) Income Inequalities D) Population rise 30 / 35 15.National Income differs from Net National Product at market price by the amount of: A) Current transfers from rest of the world B) Net Indirect Taxes C) It does not differ D) National debt interest 31 / 35 16.National Income differs from Net National Product at market price by the amount of A) Subsidies B) National debt interest C) Current transfers from the rest of the world D) Net indirect taxes 32 / 35 17.Per Capita national income means: A) None B) NNP divided by population C) Population divided by NNP D) Total capital divided by population 33 / 35 18.National Income doesn’t include: A) The payments by the household to firm for the purchase of goods and services B) Interest on unproductive national debt C) Income for government expenditure D) Undistributed profit 34 / 35 19.Value added method is used to measure .............. A) domestic income B) per capita income C) national income D) gross income 35 / 35 20.Per Capita national income means: A) None B) NNP divided by population C) Population divided by NNP D) Total capital divided by population Your score is The average score is 57% LinkedIn Facebook Twitter VKontakte 0% Restart quiz
