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National Income MCQ
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( Best 60+ ) National Income MCQ

by Mr. DJ
written by Mr. DJ

National Income MCQ

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National Income MCQ

National Income MCQ

1. The average income of a country is called

A. Per capita income

B. Disposable income

C. Inflation rate

D. Real national income

Answer: –

A. Per capita income

2. The value of NNP at production point is called

A. NNP at factor cost

B. NNP at market price

C. GNP at market price

D. GNP at factor cost

Answer: –

A. NNP at factor cost

3. The value of NNP at consumer point is called the

A. NNP at factor cost

B. NNP at market price

C. GNP at market price

D. GNP at factor cost

Answer: –

B. NNP at market price

4. When depreciation is deducted from GNP, the net value is

A. Net national product (NNP)

B. Net domestic product

C. Gross national product

D. Disposable income

Answer: –

A. Net national product (NNP)

5. Consider the following statements and identify the right ones.
i. While calculating GNP, income generated by foreigners in a country is taken into consideration ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account

A. I only

B. ii only

C. both

D. none

Answer: –

B. ii only

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6. What is the net value of GDP after deducting depreciation from GDP(Gross domestic product)?

A. Net national product

B. Net domestic product

C. Gross national product

D. Disposable income

Answer: –

B. Net domestic product

7. Consider the following statements and identify the right ones.
i. National income is the monetary value of all final goods and services produced. ii. Depreciation is deducted from gross value to get the net value

A. I only

B. ii only

C. both

D. none

Answer: –

C. both

8. Which of the following is considered as financial year in India?

A. April 1 to March 31

B. January 1 to December 31

C. March 1 to April 30

D. March 16 to March 15

Answer: –

A. April 1 to March 31

9. 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]

Answer: –

D. Both [B] & [C]

10. Which sector contributes the most to India’s economy in terms of GDP?

A. Service sector

B. Manufacturing sector

C. Agricultural sector

D. Small scale industries

Answer: –

A. Service sector

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