Indian Economy (National Income)

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1) Which of the following is the sum of GDP and net income from abroad?

A) Gross Domestic Product (GDP)

B) Gross National Product (GNP)

C) Net National Product (NNP)

D) Personal Income

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2) Which of the following is NOT a component of national income?

A) Gross Domestic Product (GDP)

B) Net National Product (NNP)

C) Gross National Product (GNP)

D) Personal Income

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3) Which of the following measures the total value of goods and services produced within a country in a specific time period?

A) Gross Domestic Product (GDP)

B) Gross National Product (GNP)

C) Net National Product (NNP)

D) Personal Income

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4) What is the concept of ‘Public Saving’?

A) Total income earned by the population in a country

B) Income earned by an individual

C) Income saved by the government

D) Income saved by the population in a country

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5) What is the concept of ‘Private Saving’?

A) Total income earned by the population in a country

B) Income earned by an individual

C) Income saved by the government

D) Income saved by the population in a country

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6) What is the concept of ‘Government Saving’?

A) Total income earned by the population in a country

B) Income earned by an individual

C) Income saved by the government

D) Income saved by the population in a country

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7) What is the concept of ‘National Saving’?

A) Total income earned by the population in a country

B) Income earned by an individual

C) Total income earned by the government

D) Income saved by the population in a country

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8) What is the concept of ‘National Disposable Income’?

A) Income after taxes and savings

B) Income after expenses and investments

C) Income after taxes and expenses

D) Income after savings and investments

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9) What is the concept of ‘Personal Income’?

A) Total income earned by the population in a country

B) Income earned by an individual

C) Total income earned by the government

D) Income earned by the foreign residents

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10) What is the concept of ‘Disposable Personal Income’?

A) Income after taxes and savings

B) Income after expenses and investments

C) Income after taxes and expenses

D) Income after savings and investments

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11) What is the formula for calculating Per Capita Income?

A) Per Capita Income = National Income/Population

B) Per Capita Income = National Income – Population

C) Per Capita Income = National Income * Population

D) Per Capita Income = National Income + Population

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12) What is the concept of ‘Per Capita Income’?

A) Total income earned by the population in a country

B) Income earned by an individual

C) Total income earned by the government

D) Income earned by the foreign residents

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13) What is the formula for calculating NNP?

A) NNP = GNP + Taxes – Subsidies

B) NNP = GNP – Taxes + Subsidies

C) NNP = GNP + Taxes + Subsidies

D) NNP = GNP – Taxes – Subsidies

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14) What is the concept of ‘Net National Product (NNP)’?

A) Total market value of all final goods and services produced within a country

B) Total market value of all final goods and services produced by the citizens of a country

C) Total market value of all final goods and services produced by the residents of a country

D) Total market value of all final goods and services produced by the government

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15) What is the formula for calculating GNP?

A) GNP = GDP + Taxes – Subsidies

B) GNP = GDP – Taxes + Subsidies

C) GNP = GDP + Taxes + Subsidies

D) GNP = GDP – Taxes – Subsidies

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16) What is the concept of ‘Gross National Product (GNP)’?

A) Total market value of all final goods and services produced within a country

B) Total market value of all final goods and services produced by the citizens of a country

C) Total market value of all final goods and services produced by the residents of a country

D) Total market value of all final goods and services produced by the government

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17) What is the term used to describe the value of all goods and services produced by the citizens of a country, regardless of their location?

A) Gross National Product (GNP)

B) Gross Domestic Product (GDP)

C) Net National Product (NNP)

D) Per Capita Income

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18) Which of the following is NOT a component of national income?

A) Consumption

B) Investment

C) Government expenditure

D) Imports

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19) What is the term used to describe the total market value of all final goods and services produced within a country in a given period of time?

A) Gross National Product (GNP)

B) Gross Domestic Product (GDP)

C) Net National Product (NNP)

D) Per Capita Income

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20) What is the difference between GDP and GNP?

A) GDP includes income earned by foreign residents

B) GNP includes income earned by foreign residents

C) GDP excludes income earned by foreign residents

D) GNP excludes income earned by foreign residents

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21) What is the main objective of calculating national income?

A) To measure economic growth

B) To assess standard of living

C) To determine income distribution

D) All of the above

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22) Which of the following is a factor that affects national income?

A) Population

B) Inflation

C) Government policies

D) All of the above

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23) What is the concept of ‘Disposable Income’?

A) Income after taxes

B) Income after savings

C) Income after expenses

D) Income after investments

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24) Which sector contributes the highest share to the national income of India?

A) Agriculture

B) Manufacturing

C) Services

D) Mining

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25) What is the formula for calculating GDP?

A) GDP = C + I + G + (X – M)

B) GDP = C + S + T + (X – M)

C) GDP = C + I + G + (M – X)

D) GDP = C + S + T + (M – X)

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26) What is the primary measure of national income in India?

A) Gross Domestic Product (GDP)

B) Gross National Product (GNP)

C) Net National Product (NNP)

D) Per Capita Income

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27) Which of the following is included in the calculation of national income?

A) Gross Domestic Product (GDP)

B) Gross National Product (GNP)

C) Net National Product (NNP)

D) All of the above

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28) Which of the following is the sum of GDP and net income from abroad?

A) Gross Domestic Product (GDP)

B) Gross National Product (GNP)

C) Net National Product (NNP)

D) Personal Income

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Indian Economy (National Income)