Top 150+ Solved General Economics 1 MCQ Questions Answer
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
Q. The first estimate of National income in India was done by:
a. K.N. Raj
b. V.K.R.V. Rao
c. Dadabai Naoroji
d. P.C. Mahalanobis
Q. Pick the odd one out:
a. Real national income
b. NI at constant price
c. NI at current prices
d. NI at base year price
Q. GDP deflator is given by:
a. Nominal NI/Real NI
b. Nominal DGP/Real GDP
c. Nominal GDP/ Nominal GNP
d. Real GDP/Real GNP
Q. Wear and tear of capital due to constant use means:
a. Intermediate consumption
b. Final consumption
c. Depreciation
d. Devaluation
Q. Value of output minus intermediate consumption is:
a. Depreciation
b. Value added
c. Net value added
d. Net exports
Q. Personal income minus personal taxes is:
a. National Income
b. Private income
c. Disposable income
d. Per capita income
Q. In India, National income is estimated at:
a. Current prices
b. Constant prices
c. Both current and constant prices
d. None of these