Top 150+ Solved Basics of Economics Studies MCQ Questions Answer
Q. A fall in the market demand, supply remaining the same results in
a. Increase in equilibrium price
b. Increase in equilibrium quantity
c. Increase in equilibrium price and decrease in equilibrium quantity
d. Both equilibrium price and quantity falls
Q. The cost of next best alternative is called
a. Marginal cost
b. Average cost
c. Opportunity cost
d. Direct cost
Q. There is ------- relationship between price and quantity supplied
a. Positive
b. Negative
c. Constant
d. Inverse
Q. Supply curve represents -------- relationship between quantity andprice
a. Direct
b. Inverse
c. Either direct or inverse
d. None of the above
Q. National Income means:
a. GNP at Factor Cost
b. GNP at Market Price
c. NNP at Factor Cost
d. NNP at market Price
Q. The difference between GDP and NDP equals:
a. Transfer payments
b. Net indirect taxes
c. Net factor income from abroad
d. Depreciation
Q. Which of the following is true?
a. GNP + Depreciation = NNP
b. GNP = GDP + Net factor income from abroad
c. NDP = GNP minus net indirect taxes
d. NNP = DGP minus depreciation
Q. NNP is equal to:
a. GNP plus Depreciation
b. GNP minus depreciation
c. GNP minus exports
d. GNP plus exports
Q. Which of the following is not a method of national income estimation?
a. Matrix method
b. Income method
c. Expenditure method
d. Product method
Q. An accounting year in India is:
a. Calendar year
b. Academic year
c. Fiscal year
d. None of these
Q. Increase in real National Income (NI) means increase in:
a. NI at current prices
b. NI at constant prices
c. Both
d. None of these
Q. Net indirect taxes means:
a. Indirect taxes plus subsidies
b. Income minus taxes
c. Indirect taxes minus subsidies
d. Exports minus imports
Q. Net factor income from abroad shows the difference between:
a. GDP and NDP
b. NNP and NDP
c. GNP and GDP
d. GNP and NNP
Q. Per capita income is equal to:
a. Population/National income
b. National income/population
c. National income/GDP
d. NNP/GNP