Top 150+ Solved Fiscal System of India MCQ Questions Answer
Q. Gross National Income is always more than Net National Income because it includes:
a. foreign income
b. capital consumption allowance
c. indirect taxes
d. direct taxes
Q. Gross National Product at market prices is defined as : [CPO AC 2003]
a. the market value of all final goods and services produced in an economy taking into account net factor income from abroad
b. the market value of all final goods and services produced in an economy
c. the market value of all final goods and services produced in an economy plus indirect taxes
d. the market value of all final goods and services produced in an economy plus indirect taxes minus subsidies
Q. National income refers to: [CPO SI 2002]
a. money value of goods 'and services produced in a country during a year.
b. money value of stocks and shares of a country during a year.
c. money value of capital goods produced by a country during a year.
d. money value of consumer goods produced by a country during a year.
Q. National income calculated at current prices in India has shown a tendency to rise at afaster rate than national income at constant prices. This is because:
a. India's population has been rising fast
b. General price level in the economy has been rising rapidly
c. Statistically manipulations are employed by the Planning
d. Base year chosen is an abnormal year
Q. The measure of a worker's real wage is : [CPO SI 2002]
a. the change in his productivity over a given time
b. his earning after deduction at source
c. his daily earnings
d. the purchasing power of his earnings
Q. Real national income denotes:
a. national income at constant prices
b. per capita income
c. national income at current prices
d. net factor income
Q. Which one of the following forms the largest share of deficit in Govt. of India budget? [UP PCS 2002]
a. Primary deficit
b. Fiscal deficit
c. Revenue deficit
d. Budgetary deficit
Q. Gross National Product is less than Gross Domestic Product depending upon whether:
a. indirect taxes are more than subsidies
b. depreciation is included or not
c. net factor income from abroad is positive or negative
d. indirect taxes are less than subsides
Q. One of the following leads to underestimation of national income in India: 1. Inflation 2. Devaluation 3. Non-Monetary consumption 4. Large unorganized sector Choose correct answer from:
a. 1, 2, 3 and 4
b. 1, 3 and 4
c. 3 and 4
d. 2, 3 and 4
Q. Which of the following schemes was intended to tap the black money?
a. SBI Deposit Scheme
b. UTI Bonds
c. Long term Operations Scheme
d. India Development Bonds
Q. According to the law of demand, when:
a. price increases demand decreases
b. price decreases demand decreases
c. price increases demand increases
d. price decreases demand does not change
Q. Which one of the following situations makes a firm most efficient? [CDS 2002]
a. Falling average costs
b. Rising average costs
c. Constant average costs
d. Lowest average costs
Q. National Income total reveals: 1. Production side of the economy 2. Distribution side of the economy 3. Expenditure side of the economy Choose your answer from
a. 1 only
b. 2 only
c. 1, 2 and 3
d. 3 only