Top 150+ Solved Business Economics Macro MCQ Questions Answer
Q. “Capitalism” refers to?
a. The use of market
b. Government ownership of capital
c. Private ownership of capital goods
d. Private ownership of homes & cars
Q. The average income of a country is called
a. Per capita income
b. Disposable income
c. Inflation rate
d. Real national income
Q. The value of NNP at production point is called
a. NNP at factor cost
b. NNP at market price
c. GNP at market price
d. GNP at factor cost
Q. The value of NNP at consumer point is called the
a. NNP at factor cost
b. NNP at market price
c. GNP at market price
d. GNP at factor cost
Q. When depreciation is deducted from GNP, the net value is
a. Net national product (NNP)
b. Net domestic product
c. Gross national product
d. Disposable income
Q. Consider the following statements and identify the right ones.i. While calculating GNP, income generated by foreigners in a country is taken into consideration ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account
a. I only
b. ii only
c. both
d. none
Q. What is the net value of GDP after deducting depreciation from GDP(Gross domestic product)?
a. Net national product
b. Net domestic product
c. Gross national product
d. Disposable income
Q. Which of the following is considered as financial year in India?
a. April 1 to March 31
b. January 1 to December 31
c. March 1 to April 30
d. March 16 to March 15
Q. 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]
Q. Which sector contributes the most to India's economy in terms of GDP?
a. Service sector
b. Manufacturing sector
c. Agricultural sector
d. Small scale industries
Q. 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
Q. 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
Q. Which statement is true?
a. National Income = National expenditure - indirect taxes
b. NI = GNP - NNP
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