Top 50+ Solved National Income MCQ Questions Answer
Q. Personal income includes:
a. Transfer payments
b. Indirect taxes
c. Depreciation
d. All of the above
Q. If savings exceed investment then:
a. National income rises
b. National income falls
c. National income is not affected
d. None of the above
Q. This statement is true
a. NI = rent + interest + wages + profit
b. NI = rent + interest + wages + taxes
c. NI = Govt. expenditure + interest + wages + profit
d. NI = rent + interest + wages + pensions
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
d. Ministry of consumer Affairs
Q. Which sector contributes the most to India's economy?
a. Service sector
b. Manufacturing sector
c. Agricultural sector
d. Small scale industries
Q. If the contribution of the agricultural sector is decreasing in a country's economy, then whatconclusion can be drawn?
a. The country is growing in the direction of being a developed nation
b. The country is moving towards becoming developing nation
c. The country is moving towards becoming less developed nation
d. The economic growth rate of the country has stopped
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. Output means. ……………unless stated otherwise
a. Gross output at MP (GDPmp)
b. Net output at MP
c. Gross output at FC
d. None
Q. Which of the following is not a component of domestic income?
a. Operating surplus
b. Compensation of employees
c. Net factor income from abroad
d. Mixed income
Q. If factor cost is greater than marker price, it means that
a. Indirect taxes < subsidies (Subsidy> indirect taxes)
b. Indirect taxes > subsidies
c. I.T = subsidies
d. None
Q. Which of the following is not true about final goods?
a. Final gods satisfy wants of ultimate consumers and producers.
b. Final goods have direct demand as they satisfy the wants directly.
c. Final goods are subject to further transformation in the process of production.
d. Final goods are neither used up as raw-material nor for resale in the same year.
Q. Following is an example of final good:
a. Flour used by a banker in making biscuits
b. Unsold stock of goods lying with the sellers
c. Tyres purchased by a transport company
d. Mobile sets purchased by a mobile dealer