Economic and Social Development | National Income
Economic and Social Development | National Income
1. In India, National Income is computed by which of the following?
Planning Commission
Ministry of Finance
Central Statistical Organisation
Reserve Bank of India
Correct Answer
Wrong Answer
2. Who among the following was the Chairman of National Committee appointed by Government of India in 1949?
C.R. Rao
P.C. Mahalanobis
V.K.R.V. Rao
K.N. Raj
Correct Answer
Wrong Answer
3. The national income of a country for a given period is equal to the
Total value of goods and services produced by the nationals
Sum of total consumption and investment expenditure
Sum of personal income of all individual
Money value of final goods and services produced
Correct Answer
Wrong Answer
4. Which among the following sectors. contribute most to GDP of India?
Primary sector
Secondary sector
Tertiary sector
All three contribute equally
Correct Answer
Wrong Answer
5. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India?
Service, Industry, Agriculture
Service, Agriculture, Industry
Industry, Service, Agriculture
Industry, Agriculture, Service
Correct Answer
Wrong Answer
6. Indicate the vital change in the measurement of National Income of India.
Base year has been changed from 2004-05 to 2011-12
Calculation has been changed from factor cost to market prices
Calculation has been changed from current prices to constant prices
Both the base year and calculation method have been changed
Correct Answer
Wrong Answer
7. The Government of India has decided to revise the base for estimating the GDP from
2001-02 to 2010-11
2004-05 to 2013-14
2004-05 to 2011-12
2001-02 to 2011-12
Correct Answer
Wrong Answer
8. Which of the following is a sign of economic growth?
An increase in national income at constant prices during a year
A sustained increase in real per capita income
An increase in national income at current prices overtime
An increase in national income along with increase in population
Correct Answer
Wrong Answer
9. The most appropriate measure of a country's economic growth is its
Gross Domestic Product
Net Domestic Product
Net National Product
Per Capita Real Income
Correct Answer
Wrong Answer
10. The Hindu rate of growth refers to the growth rate of
Per Capita Income
National Income
Population
Literacy
Correct Answer
Wrong Answer
11. The first measure of India's National Income was made by
William Digby
Dadabhai Naoroji
M.G. Ranade
V.K.R.V. Rao
Correct Answer
Wrong Answer
12. The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the later takes into account the rate of
growth of population
increase in price level
growth of money supply
increase in the wage rate
Correct Answer
Wrong Answer
13. Human Development Index (HDI) comprises literacy rates, life expectancy at birth and
Gross Domestic Product per head in US Dollars
Gross Domestic Product per head at real purchasing power
Gross National Product in US Dollars
National Income per head in US Dollars
Correct Answer
Wrong Answer
14. National Income is the
Net National Product at market price
Net National Product at factor cost
Net Domestic Product at market price
Net Domestic Product at factor cost
Correct Answer
Wrong Answer
15. The term National Income represents
Gross National Product at market price minus depreciation
Gross National Product at market price minus depreciation plus net factor Income from abroad
Gross National Product at market price minus depreciation and indirect tax plus subsidies
Gross National Product at market price minus net factor income from abroad
Correct Answer
Wrong Answer
16. The most simple and popular method of measuring economic development is to calculate the trend of Gross National Product (GNP) at
Current prices
Constant prices
Both of the above
None of the above
Correct Answer
Wrong Answer
17. When National Income is calculated with reference to a base year, it is called
Nominal national income
Real national income
Net national income
Gross national income
Correct Answer
Wrong Answer
18. Which among the following are the factors that determine the national income of a country?
Quantity and Quality of factors of produced
The state of technical knowledge
Economic and Political stability
All of the above
Correct Answer
Wrong Answer
19. National Sample Survey Office (NSSO) was established in the year
1950
1951
1947
1948
Correct Answer
Wrong Answer
20. Which of the following methods is not being used in the unemployment estimation by the NSSO in India?
Current monthly status
Current daily status
Current weekly status
Usual principal status
Correct Answer
Wrong Answer
21. Economic Survey in India is published by
Ministry of Finance
Planning Commission
Ministry of Commerce
Indian Statistical Institute
Correct Answer
Wrong Answer
22. One of the problems in calculating National Income in India is
Under-employment
Inflation
Low level of savings
Non-monetised consumption
Correct Answer
Wrong Answer
23. What was India's estimated GDP growth rate for 2018-19 in the Economic survey?
6.3% - 7.1%
7.2% - 7.5%
7% - 7.5%
7% - 7.2%
