DOWNLOAD MOBILE APPLICATION TO LEARN MORE: NATIONAL INCOME MCQ QUESTIONS
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: NATIONAL INCOME MCQ QUESTIONS
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: NATIONAL INCOME MCQ QUESTIONS
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: NATIONAL INCOME MCQ QUESTIONS
Table of Contents
NATIONAL INCOME MCQ QUESTIONS
NATIONAL INCOME, ECONOMIC DEVELOPNMENT
AND ECONOMIC PLANNING
1.National income is the
A. Net national product at market price.
B. Net national product at factor cost.
C. Net domestic product at market price.
D. Net domestic product at factor cost.
2. National income is also called as
A. GNP at factor cost.
B. GNP at market price.
C. NNP at factor cost.
D. NNP at market price
3. Which one of the following is not included while estimating National income through income method?
A. Rent
B. Mixed incomes
C. Pension
D. Undisturbed profits
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4. National income is generated from
A. Any money- making activity.
B. Any laborious activity.
C. Any profit- making activity.
D. Any productive activity.
5. The incomes of Indians working abroad are apart of
A. Domestic income of India
B. Income earned from abroad
C. Net domestic product of India
D. Gross domestic product of India
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6. National income in India is estimated by
A. Planning commission
B. Central statistical organization
C. Finance commission
D. Indian statistical institute
7. Which of the following methods are used to calculate national income in India?
A. Productive method
B. Expenditure method
C. Income method
D. All of the above
8. Which of the following method is not used in determining National income at a country?
A. Income method
B. Output method
C. Input method
D. Investment method
9. National income accounting entails a calculation of the contribution at every stage of manufacturing. This method of national income accounting is known as
A. Product method
B. Income method
C. Consumption method
D. Expenditure method
10. National income at constant price is divided from the total population of the country, the result received is known as
A. Per capita income
B. Real per capita income
C. Disposable per capita income
D. Real gross domestic product
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11. Per capita income is
A. Net national product/ total population
B. Total population/national income
C. Gross national product/ total population
D. National income /personal income
12. On the basis of which of the following indicator, the lifestyles standard of person can be identified?
A. gross domestic income
B. net national income
C. per capita income
D. Disposable personal income
13. Who among the following Indian freedom fighters made an attempt to estimate the per capita income of India?
A. Gopal Krishna Gokhale
B. Pherozeshah Mehta
C. Surendra Nath Banerjee
D. Dadabhai naoroji
14. The per capita income in India was Rs.20 in 1867-68was ascertained for the first time by
A. MG Ranade
B. Sir W hunter
C. RC Dutta
D. Dadabhai naoroji
15. Which one of the following equals personal disposable Income?
A. Personal income – direct taxes paid by households and miscellaneous fees, fines etc.
B. Private income – saving of private corporate sectors – corporation taxes
C. Private income – taxes
D. Total expenditure of households – income tax gifts received
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16. A transfer income is an
A. Income which is not produced by any production process.
B. Income taken away from one person and given over to another person.
C. Unearned income
D. Earned income
17. The value of final goods and services produced by the normal residents of a country and their property, whether operating with in the domestic territory of the country or outside in a year is termed as
A. Gross national income
B. Net national income
C. Gross domestic product
D. Net domestic product
18. The national income of country for a given period is equal to the
A. Total value of goods and services produced by the nationals.
B. Sum of total consumption and investment expenditure.
C. Sum of personal income of all individuals.
D. Money values of final goods and services produced.
19. Match the following.
| LIST (I) (EVENT) | LIST (II) (YEAR) |
| First report of national income of committee | 1951 |
| Scientific method of national income | 1925-29 |
| Estimation of national income by Dada Bhai Naoroji | 1868 |
| Estimation of national income by government | 1948-49 |
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CODES
A. 2 1 1 3
B. 1 4 2 3
C. 1 2 3 4
D. 4 3 2 1
20. Which of the following factors are accounted in the calculation of gross domestic product of a country in the expenditure method?
A. Private consumption
B. Gross investment and expenditure spending
C. Net expenditure of the expenditure on export and import
D. All of the above
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21. Which one of the following is possible in an economy?
A. GDP = PI
B. GDP = GNP
C. FC = MP
D. NNP = GDP
22. Which one of the following combinations is incorrect?
A. NDP = GDP – Deprecation
B. GDP = GDP + (indirect tax – subsidy)
C. GDP = GDP – (indirect tax – subsidy)
D. NDP = GDP – Depression
23. Real gross domestic product is measured at
A. Current prices
B. Constant prices
C. Average prices
D. None of these
24. What does GNP stand for?
A. Gramine Nigam parishad
B. Gramine Niska pranam
C. Gross national product
D. Gross national price
25. Gross national product – depreciation allowance?
A. Per capita income
B. Gross domestic income
C. Personal income
D. Net national product
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26. Which one of the following is not a method for computing GNP?
A. Income approach
B. Expenditure approach
C. Savings approach
D. Value added approach
27. National product of factor cost is equal to
A. Domestic product + net factor income from abroad
B. National product at market prices – indirect taxes + subsidies
C. Gross domestic product – depreciation
D. National product at market prices +indirect taxes – depreciation
28. Which one of the following is deducted from GNP to arrive at NNP?
A. Depreciation
B. Interest
C. Tax
D. Subsidy
29. Depreciation is loss in value of
A. Final goods
B. Machinery
C. Capital stock
D. Stock of inventory
30. With reference to Indian economy consider the following statements.
I. The rate of growth of real gross domestic product has steadily increased in the last decade.
II. The gross domestic product at market prices has steadily increased in the last decade.
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Which of the statements given above is correct?
A. Only (i)
B. Only (ii)
C. Both (i) and (ii)
D. Neither (i) nor (ii)
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31. With reference to the Indian economy consider the following statements.
I. The gross domestic product has increased by four times in the last 10 years.
II. The percentage share of public sector in GDP has declined in the last 10 years.
Which of the statements given above is correct
A. Only (i)
B. Only (ii)
C. Both (i) and (ii)
D. Neither (I nor (ii)
32. A decrease in tax to GDP ratio of a country indicates which of the following?
I. Slowing economic growth rate.
II. Less equitable distribution of national income.
Select the correct answer using the codes given below.
A. Only (i)
B. Only (ii)
C. Both (i) and (ii)
D. Neither (i) nor (ii)
33. Who among the following has given the concept of human development?
A. Amartya Sen
B. Mahbub- Ul –Haq
C. Sukhamoy Chakravarty
D. GS Chaddha
34. The human development index was first introduced in the year
A. 1980
B. 1990
C. 1995
D. 2000
35. The human development index was first developed by which of the following?
A. UNDP
B. IMF
C. UNICEF
D. UNCTAD
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36. Which of the following indicators is not used to calculate human development index?
A. Life expectancy
B. Education
C. Per capita income
D. Social inequality
37. Which one of the following is not used to calculate the human development index?
A. A long and healthy life.
B. Knowledge.
C. Access to banking and other financial provisions.
D. A decent standard of living.
38. Which of the following are considered to be the four pillars of human development?
A. Equity inclusion productivity and empowerment.
B. Equity productivity empowerment and sustainability.
C. Productivity gender inclusion and equity.
D. Labor productivity inclusion and equity.
39. Indian human development report does not given for each sample village
A. Infrastructure and amenities index
B. Education related index
C. Health related index
D. Unemployment related index
40. Physical quality of life index is developed by
A. Morris D Morris
B. UNDP
C. Mahbub –Ul –Haq
D. None of these
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41. In which year world hunger index was released?
A. 2001
B. 2006
C. 2011
D. 2015
42. Saving energy and other resources for the future without sacrificing people comfort in the present is the definition of which of the following concepts?
A. Economic growth
B. Economic development
C. Sustainable development
D. Human development
43. Which of the following sustainable development goal will target to water availability for all and its permanent management up to 2030 in India?
A. SDS- 6
B. SDS – 7
C. SDS – 8
D. SDS – 9
44. Which statement depicts the best definition of sustainable development?
A. It means optimal utilization of natural resources.
B. Sustainable use of natural resources without considering the need of the future generation.
C. Present generation fulfils its need while considers the needs of the future generation as well.
D. None of these.
45. World development report is published by
A. United nations organization
B. Asian development bank
C. World bank
D. World trade organization
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46. Multi – dimensional poverty index includes
I. Health
II. education
III. Living standard
Select the correct answer from the codes given below.
A. Only (i)
B. Both (ii) and (iii)
C. Both (i) and (ii)
D. (i) (ii) and (iii)
47. Human poverty index developed by UNDP is based on which of the following deprivations?
I. Income deprivation
II. Literacy deprivation
III. Social services deprivation
VI. Employment deprivation
Select the correct answer using the codes given below.
A. (i) (ii) (iii) and (iv)
B. (i) (ii) and (iii) only
C. (i) (iii) and (iv) only
D. (ii) and (iv) only
48. Consider the following specific stages of demographic transition associated with economic development.
I. Low birth rate with low death rate.
II. High birth rate with high death rate.
III. High birth rate with low death rate.
Select the correct order of the above stages using the codes given below.
A. (i) (ii) (iii)
B. (ii) (i) (iii)
C. (ii) (iii) (i)
D. (iii) (ii) (i)
49. Consider the following statements.
I. Purchasing power parity exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries.
II. In terms of PPP dollars Indian is the sixth largest economy in the world.
Which of the statements given above is correct?
A. only (i)
B. only (ii)
C. both (i) and (ii)
D. neither (i) nor (ii)
50. consider the following statements
I. In any nation human development outcomes are a function of economic growth social policy and poverty reduction measures at the macro – level.
II. The expenditure of human development in terms of health and education attainment reduction of income poverty and economic growth is linked in a synergistic manner.
III. Investment in health and education can enhance human functioning which can eventually alleviate income poverty by improving employability.
VI. Resources generated through income poverty reduction and economic growth can be used to enhance human development.
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Which of the statements given above are logical and correct?
A. (i) and (ii) only
B. (ii) and (iv) only
C. (i) (ii) (iii) and (iv)
D. (i) (ii) and (iii)
51. Given below are two statements one is labelled as assertion (A) and the other is as reason (R)
Assertion (A) There is a positive relation between human development indexes (HDI) and sustainable development goals (SDG) ranking of Indian states.
Reason (R) The underlying dimension of SDG targets are closely related to education and health aspect.
Select the correct answer from the codes given below.
A. Both A and R are true and R is the correct explanation of A.
B. Both A and R are true but R is not the correct explanation of A.
C. A is true but R is false.
D. A is false but R is true.
52. Match the following.
| LIST I (INDEX) | LIST II (YEAR) | ||
| A. | GNH (gross national happiness) | 1. | 2006 |
| B. | HDI (human development index) | 2. | 1972 |
| C. | IHDI (inequality – adjusted human development index) | 3. | 2010 |
| D. | GHI( global hunger index) | 4. | 1990 |
CODES
A B C D
A. 4 3 2 1
B. 3 4 1 2
C. 1 2 3 4
D. 2 3 3 1
53. What are the objectives of economic planning?
A. Provide employment
B. Holistic development of agriculture and industry
C. Both (a) and (b)
D. To increase liquidity in economy
54. In India economic planning was started in which year?
A. 15 August, 1947
B. 7th April, 1951
C. 26th January, 1949
D. 1st May ,1956
55. Planning in India drew on
A. The new economic program me of Lenin
B. The Fabian socialism of Sidney and Beatrice web
C. The British welfare mechanism
D. New democratic development
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56. Who authored the book planned economy for India?
A. M Visvesvaraya
B. J R D Tata
C. G D Birla
D. Pattabhi Sitaramayya
57. The five year plan was first launched in
A. China
B. USSR
C. India
D. Bhutan
58. Consider the following statements.
I. The national development council (NDC) was constituted in 1948.
II. The national development council (NDC) is an extra – constitutional body.
Which of the statements given above is correct?
A. Only (i)
B. Only (ii)
C. Both (i) and (ii)
D. Neither (i) nor (ii)
59. The second five year plan of India was based on
A. The Harrods – do mar model
B. The Solow model
C. The Mahalanobis Model
D. The Mahatma Gandhi vision
60. The Nehru Mahalanobis strategy of development was implemented for the first time by which one of the following five – year plans?
A. First five year plan
B. Second five year plan
C. Third five year plan
D. Seventh five year plan
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61. Under which plan did the government introduce an agriculture strategy which gave rise to green revolution in India?
A. Second five year plan
B. Third five year plan
C. Fourth five year plan
D. Sixth five year plan
62. Which one of the following five year plans of Indian economy took the first step to devalue the Indian rupee after independence?
A. Second five year plan
B. Third five year plan
C. Fifth five year plan
D. Sixth five year plan
63. The call for Garibi Hatao was incorporated in
A. Fourth five year plan
B. Fifth five year plan
C. Sixth five year plan
D. Seventh five year plan
64. In India the concept of minimum needs and directed anti – poverty programmes were the innovations of
A. Fourth five year plan
B. Fifth five year plan
C. Sixth five year plan
D. Seventh five year plan
65. During which five year plan was the emergency clamped new election took place and janata party was elected?
A. Third plan
B. Fourth plan
C. Fifth plan
D. Sixth plan
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66. The rolling plan concept in placing was introduced by
A. Indira Gandhi government
B. The national front government
C. The Janata party government
D. Rajiv Gandhi government
67. Which one of the following programmers was initiated during the sixth five year plan?
A. Integrated rural development
B. Rural literacy development
C. Rural railways
D. Advanced communication links
68. In the context of India five year plan a shift in a pattern of industrialisation with lower emphasis on the heavy industry and move one infrastructure begins in
A. Fourth plan
B. Sixth plan
C. Eight plan
D. Tenth plan
69. In India which of the following five year plans was launched with a focus on sustainable growth?
A. Ninth
B. Tenth
C. Eleventh
D. Twelfth
70. Mahalanobis plan model adopted in India in the mid – fifties aimed at
A. Building a strong defence industry
B. Setting up heavy industry which were capital intensive
C. Curbing inflation in the economy
D. Removing unemployment within a short period
71. Which one of the following statements with regards to economic models is not correct?
A. They involve simplification of complex processes.
B. They represent the whole or a part of a theory.
C. They can be expressed only through equations.
D. They help in gaining an insight into cause and effect.
72. Consider the following statements about the second five -year plan.
I. It was drafted under the leadership of KN Raj.
II. It proposed that industries like electricity railways steel machineries and communication could be developed in the public sector.
III. The drafters found balancing industry and agriculture very difficult.
VI .The drafters found balancing industry and agriculture really easy.
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Which one of the following statements given above is correct?
A. Only (i)
B. (i) and (ii)
C. (ii) and (iii)
D. (iii) and (iv)
73. With reference to India s five year plans which of the following statements is correct?
I. From the second five year plan there was a determined thrust towards substitution
II. Of basic and capital good industries.
III. The fourth five- year plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.
VI . In the fifth-year plan for the first time the financial sector was included as an integral part of the plan.
Select the correct answer by using the codes given below.
A. (i) and (ii)
B. Only (ii)
C. Only (iii)
D. (i) (ii) and (iii)
74. Which of the following are associated with planning in India?
I. The finance commission
II. The national development council
III. The union ministry of rural development
VI. The union ministry of urban development
V. The parliament
Select the correct answer using the codes given below.
A. (i) (ii) and (v)
B. (i) (iii) and (iv)
C. (ii) and (v)
D. (i) (ii) (iii) (iv) and (v)
75. The principal components of Nehru Mahalanobis strategy of economic development were
I. Reconstructing economic dependency on metropolitan capitalism into independent economic development.
II. Transition from semi – feudal agriculture to capitalist farming.
Select the correct answer using codes given below.
A. Only (i)
B. Only (ii)
C. Both (i) and (ii)
D. Neither (i) nor (ii)
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76. Match list I with II and select the correct answer using codes given below the lists.
| LIST I (MAJOR OBJECTIVE | LIST II (FIVE YEAR PLAN | ||
| A. | Faster And more inclusive growth | 1. | First |
| B. | faster more inclusive and sustainable growth | 2. | Fifth |
| C. | correction of disequilibrium caused by second world war | 3. | Eleventh |
| D. | Attaining self – reliance | 4. | Twelfth |
CODES
A B C D
A. 3 1 4 2
B. 3 4 1 2
C. 2 4 1 3
D. 2 1 4 3
77. Economic reforms were introduced in India in
A. 1989
B. 1990
C. 1991
D. 1992
78. Which one among the following statements about the globalization is not correct?
A. Advocates of the globalization argue that it will result in greater economic growth.
B. Critics of the globalization argue that it will result in greater economic disparity.
C. Advocates of the globalization argue that it will result in culture homogenization.
D. Critics of the globalization argue that it will result in culture homogenization.
79. Indian government has established NITI Aayog in the place of which commission
A. Human right commission
B. Finance commission
C. Law commission
D. Planning commission
80. Which of the following is a nodal institution for implementation of sustainable development goals in India?
A. Planning commission
B. Disinvestment commission
C. NITI Aayog
D. Finance commission
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81. NITI Aayog stands for
A. New India transforming institute
B. National India transforming institute
C. National institute for transforming India
D. National institute for transforming India
82.. Who is the ex – officio head of NITI Aayog?
A. Union minister
B. Prime minister
C. CEO
D. Agriculture specialist
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83. Who was first vice – chairman of the NITI Aayog?
A. Arvind Panagariya
B. Raghuram Rajan
C. Chandrashekhar Subramanyam
D. Rajiv Kumar
84. Atal innovation mission is set up under the
A. Department of science and technology
B. Ministry of labour and employment
C. NITI Aayog
D. Ministry of skill development and entrepreneurship
85. Hindu growth rate is related to
A. Money
B. GDP
C. Population
D. GNP
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86.Which of the following is true about the Hindu growth rate in India?
This is about social and economic growth of the Hindu population only.
Displays high growth performances of certain section of Hindu population in India.
Hints at high growth in India during 2000-10.
Exposes low growth occurrence of the Indian economy during 1950-80.
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ANSWERS
| 1. | b. | 18. | d. | 35. | a. | 52. | d. | 69. | d. | 86. | d. |
| 2. | a. | 19. | a. | 36. | d. | 53. | c. | 70. | b. | ||
| 3. | c. | 20. | d. | 37. | c. | 54. | c. | 71. | c. | ||
| 4. | b. | 21. | b. | 38. | b. | 55. | a. | 72. | c. | ||
| 5. | c. | 22. | c. | 39. | d. | 56. | a. | 73. | a. | ||
| 6. | b. | 23. | b. | 40. | a. | 57. | b. | 74. | c. | ||
| 7. | d. | 24. | c. | 41. | b. | 58. | b. | 75. | d. | ||
| 8. | d. | 25. | d. | 42. | c. | 59. | c. | 76. | b. | ||
| 9. | a. | 26. | a. | 43. | a. | 60. | b. | 77. | c. | ||
| 10. | b. | 27. | b. | 44. | c. | 61. | b. | 78. | c. | ||
| 11. | a. | 28. | a. | 45. | c. | 62. | b. | 79. | d. | ||
| 12. | c. | 29. | b. | 46. | d. | 63. | b. | 80. | c. | ||
| 13. | d. | 30. | b. | 47. | a. | 64. | b. | 81. | b. | ||
| 14. | d. | 31. | d. | 48. | c. | 65. | c. | 82. | b. | ||
| 15. | a. | 32. | d. | 49. | a. | 66. | b. | 83. | a. | ||
| 16. | a. | 33. | b. | 50. | d. | 67. | a. | 84. | c. | ||
| 17. | a. | 34. | b. | 51. | a. | 68. | c. | 85. | b. |
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ALSO VISIT: INDIAN ECONOMY
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| 1.NATURE OF INDIAN ECONOMY MCQ 2.INDIAN ECONOMY MCQ 3.FEATURES OF INDIAN ECONOMY MCQ 4.POVERTY AND UNEMPLOYMENT MCQs | indian economy quiz 1 indian economy 3 indian economy 4 | indian economy quiz 2 indian economy quiz 5 |
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