Description : In agricultural sector net value added is estimated by A. Income method B. Expenditure method C. Production method D. All the three
Last Answer : C. Production method
Description : Which of these items are excluded in the computation of National Income under value added method? (a) Own acquired fixed assets by the Government enterprises, Govt. and household; (b) Production for self-consumption ; (c) Imputed rent for own occupied house ; (d) All the three
Last Answer : (d) All the three
Description : Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax ... multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.
Last Answer : (b) Decreases the value of the expenditure and net tax revenue multiplier;
Description : The relationship between aggregate consumption expenditure and aggregate income of household sector is known as ………………………. function. (a) Consumption ; (b) Saving ; (c) Expenditure ; (d) Income
Last Answer : (a) Consumption
Description : Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods - opening stock of finished goods - total expenditure on raw material - intermediate ... stock of finished goods and semi finished goods - total expenditure on raw material - intermediate goods.
Last Answer : (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.
Description : Which of the following methods is/are used for measuring national income? (a) Output method ; (b) Expenditure method ; (c) Income method ; (d) All of (a), (b) and (c) above.
Last Answer : (d) All of (a), (b) and (c) above.
Description : The …………………………….. measurement method of national income aggregates all the money spent by private citizens, firms and the government within the year. (a) Expenditure ;(b) Income ; (c) Input ; (e) Saving
Last Answer : (a) Expenditure
Description : The method of calculating the national income by the product method is otherwise known as : (1) Income method (2) Value added method (3) Expenditure method (4) Net output method
Last Answer : (4) Net output method Explanation: Primarily there are three methods of measuring national income. Which method is to be employed depends on the availability of data and purpose. The methods ... account. In this method, National Output = National Expenditure (Aggregate Demand) = National Income.
Last Answer : Net output method
Description : In the Union Budget, profits from public sector undertakings are taken under (a) Revenue receipts ; (b) Capital receipts (c) Monetized receipts ; (d) Planned expenditure
Last Answer : (a) Revenue receipts
Description : X a consumer spends his entire income on two commodities A and (B) if price of A increases by 10% and his expenditure on item B remains same, then the price elasticity of item A is (a) 1 ; (b) < 1 ; (c) > 1 ; (d) ≥
Last Answer : (a) 1 ;
Description : NDP does not include (a) Payments made for income taxes ; (b) Depreciation allowances ; (c) Undistributed profits; (d) The value added from intermediate goods.
Last Answer : (b) Depreciation allowances ;
Description : „Transfer Payments‟ are (a) Payments made to a factor of production ; (b) Payments transferred from one sector to another; (c) Payments made for no return service ; (d) Payments made by government of one country to another
Last Answer : (c) Payments made for no return service ;
Description : Which one of the following is not a method for computing GNP? (1) Income Approach (2) Expenditure Approach (3) Savings Approach (4) Value Added Approach
Last Answer : (1) Income Approach Explanation: Gross National Product (GNP) can be defined as an economic statistic which includes Gross Domestic Product, plus any income earned by the residents from investments ... foreign countries by the residents of a country - income earned by nonresidents in that country.
Description : Which one of the following is not a method of measurement of National Income? (1) Value Added Method (2) Income Method (3) Investment Method (4) Expenditure Method
Last Answer : (3) Investment Method Explanation: Primarily there are three methods of measuring national income. The methods are product method, income method and expenditure method. Product method is given by Dr. Alfred ... properties where evidence of rates is slight, such as hotels, cinema, car park and etc.
Description : Which one of the following is not a method for computing GNP ? (1) Income Approach (2) Expenditure Approach (3) Savings Approach (4) Value Added Approach
Last Answer : Income Approach
Description : Which one of the following is not a method of measurement of National Income ? (1) Value Added Method (2) Income Method (3) Investment Method (4) Expenditure Method
Last Answer : Investment Method
Description : In India agricultural income is calculated by (a) Income method (b) Output method © Expenditure method (d) None of them.
Last Answer : (b) Output method
Description : Which of these is one of the causes of inflation? (a) Increase in public expenditure ; (b) Deficit financing ; (c) Increase in administrative prices (d) All the three
Description : Which of these is/are not included in net domestic product at factor cost. (a) Wages or compensation of employees ; (b) Rent, interest, profits or operating surplus; (c) Mixed income ; (d) None
Last Answer : (d) None
Description : If we add……………. to national income we get NDP (a) Depreciation ; (b) Net foreign factor income ; (c) Indirect-tax ; (d) Transfer payment
Last Answer : (b) Net foreign factor income ;
Description : Which of the following equation is correct? (a) GNP=GDP+Net factor income from abroad (b) GNP=GDP+Gross factor income from abroad (c) GNP=GDP-Net factor income from abroad (d) GNP=GDP-Gross factor income from abroad
Last Answer : (a) GNP=GDP+Net factor income from abroad
Description : Financial interrelation ratio is equal to (a) Total issues / National income ; (b) Primary issues / Net capital formation; (c) Total issues / Net capital formation ; (d) Total stock of financial assets/Stock of fiscal assets
Last Answer : (c) Total issues / Net capital formation
Description : The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.
Last Answer : (a) Net Domestic Product at factor cost ;
Description : The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is (a) Excess of subsidies over indirect taxes ; (b) Depreciation ; (c) Net foreign income from abroad (d) Excess of indirect taxes over subsidies
Last Answer : (c) Net foreign income from abroad
Description : Net factor income from abroad is equal to (a) NNP at market price – NDP at market price ; (b) NDP at market prices – Indirect taxes + Subsidies ; (c) NDP at factor cost + Depreciation ; (d) NNP at market prices + Depreciation
Last Answer : (a) NNP at market price – NDP at market price ;
Description : If we add……………. to net domestic production we get GDP (a) Depreciation ; (b) Direct tax ; (c) Indirect tax ; (d) Interest payment
Last Answer : (a) Depreciation ;
Description : If the price of vegetable sandwich rises from `6 per piece to `12 per piece as a result of which the daily sales decreases from 800 to 400 pieces per day. The price elasticity of demand can be estimated as (a) 0.5 ; (b) 1.5 ; (c) 3.0 ; (d) 2.5
Last Answer : (a) 0.5 ;
Description : If the price of burger rises from `12 per piece to `20 per piece as a result of which the daily sales decreases from 300 to 200 pieces per day. The price elasticity of demand can be estimated as (a) 0.5 ; (b) 0.8 ; (c) 0.25 ; (d) 2.10
Description : National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three
Last Answer : (b) Money value ;
Description : Pick out the wrong statement. (A) Gross margin = net income - net expenditure (B) Net sales realisation (NSR) = Gross sales - selling expenses (C) At breakeven point, NSR is more than the total production cost (D) Net profit = Gross margin - depreciation - interest
Last Answer : (C) At breakeven point, NSR is more than the total production cost
Description : The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production
Last Answer : ; (d) Price of factor of production
Description : Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income
Last Answer : ; (d) Consumers disposal income
Description : A levy of excise duty on consumption of an item consumed will .. (a) Induce suppliers to pump in more quantity in the market; (b) Result in fall in the consumption of the commodity ... by the consumer ; (c) Lead to inflationary conditions ; (d) Place the consumer on lower indifference curve
Last Answer : (d) Place the consumer on lower indifference curve
Description : True value added (a) value added-depreciation ; (b) Value added – depreciation – tax ; (c) Value added – interest – tax ; (d) Value added – depreciation-interest
Last Answer : (a) value added-depreciation ;
Description : Personal taxes in India best illustrates a (a) Proportional tax system ; (b) Progressive tax system (c) Indirect tax system ; (d) Value added tax system
Last Answer : (b) Progressive tax system
Description : In an agricultural family all the family members are working the farmland of the family. Due to addition of two more person in the family they are also working in the farmland of the ... (a) Cyclical unemployment ; (b) Disguised unemployment ; (c) Frictional unemployment (d) Seasonal unemployment
Last Answer : (b) Disguised unemployment ;
Description : Which is the apex bank for agricultural credit in India? (a) RBI ; (b) SIDBI ; (c) NABARD ; (d) IDBI
Last Answer : (c) NABARD ;
Description : Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.
Last Answer : (c) The total value of goods and services measured at current prices
Description : Which of these is a secondary sector (a) Manufacturing sector ; (b) Transport ; (c) Forestry ; (d) Animal husbandry
Last Answer : (a) Manufacturing sector ;
Description : Which of these is primary sector. (a) Communication ; (b) Banking ; (c) Construction ; (d) Poultry firming
Last Answer : (d) Poultry firming
Description : Disguised unemployment is mainly found in (a) Urban areas ; (b) Rural areas ; (c) Small scale sector ; (d) Highly qualified work force
Last Answer : (b) Rural areas ;
Description : Regulatory framework for Telecom sector is provided by (a) MTNL ; (b) VANL ; (c) BSNL ; (d) TRAI
Last Answer : (d) TRAI
Description : Which of these are not included in territory sector? (a) Banking ; (b) Insurance ; (c) Agriculture ; (d) Transport
Last Answer : (c) Agriculture ;
Description : In which sector of Indian economy will we find a high rate of disguised unemployment? (a) Service sector. ; (b) Agriculture sector. ; (c) Manufacture sector. ; (d) Mining sector.
Last Answer : (b) Agriculture sector.
Description : In a mixed economy which sector(s) is/ are found (a) Private Only ; (b) Public sector only ; (c) None ; (d) Both a and b
Last Answer : (d) Both a and b
Description : Which of these affects the demand for money? (a) Real income ; (b) Price level ; (c) Rate of interest ; (d) All the three
Description : Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three
Description : Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three
Description : The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three