1. Calculate a country’s GDP if for the year, consumer spending is $400 million, government spending is $150 million, investment by businesses is $80 million, exports are $35 million and imports are $40 million.
2. Which is the most commonly used indicator of macroeconomic performance?
3. Which of the followng is not a properly stated component of the expenditure method of measuring national income?
4. Unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand is called
5. Which Indian State has the highest GDP?
6. The basis of determining dearness allowance to employees in India is…………
7. Gross National Product is equal to :
8. What does GNP stand for ?
9. While calculating Net Economic Welfare (NEW), which of the following items is subtracted from GNP?
10. According to the first Multidimensional Poverty index (MPI) prepared by NITI Aayog and released in November 2021, which of the following states emerged as the poorest state?
11. Which of the following is not a method of estimating national income?
12. Gross Domestic Product + Net factor income from abroad =
13. Which among the following is included in the gross domestic product?
14. What is Net National Product?
15. The national poverty line for 2011-12 was estimated at _________ per capital per month for rural areas of India.
16. Sectoral distribution of GDP index measures…..
17. In this question, two statements are given, the first of which is Assertion (A) and the second is Reason (R). Use them to choose the right option.
Assertion (A) : While estimating national
income, packet money given by parents is
included.
Reason (R) : It represents transfer of payments
from parents to children.
19. Which of the following options represents the total income earned by individuals from all sources before deducting personal income taxes?
20. Calculate country’s GDP if for the year, Consumer spending is $900 million, Government spending is $250 million, Investment by businesses is $180 million, Exports are $85 million and Imports are $100 million.
21. In the estimation of national income, which of the following items will be subtracted from NNP at market price?
22. GDP deflator is equal to _________
23. What is the economic impact of increase in productivity of firms?
24. The economist who for the first time scientifically determined National Income in India is-
25. Which of the following statements islare correct regarding liquidity trap?
i. It is the point where speculative demand
for money is infinitely inelastic and the
liquidity preference curve becames
perfectly elastic.
ii. It is the point where speculative demand
for money is infinitely elastic and the
liquidity preference curve becomes
perfectly inelastic.
iii. It is the point where speculative demand
for money is infinitely elastic and the
liquidity preference curve becomes
perfectly elastic.
iv. It is the point where speculative demand
for money and the liquidity preference
curves are not related.
26. Why it is important to distinguish between final and intermediate goods/services in national income accounting?
27. National Income–Undistributed profits–Net interest payments made by households– Corporate tax + Transfer payments to the households from the government and firms is.....
28. Which of the following areas make the largest contribution to national income in India?
29. Income of the state which arises out of the property left by the people without a legal heir is called _________.
30. The value added of a firm is calculated as ________
31. Consider the following statements related to unemployment in India:
(a) Seasonal unemployment is mainly found in
urban areas
(b) Educated unemployment people are
mainly found in the rural areas of India.
(c) High crop intensity is desirable to reduce
unemployment in the rural economy.
Which of the given statements is/are correct?
32. Personal Income − Personal tax payments − Non-tax payments =
33. When workers move from one job to another job is known as:………...
34. Which of the following is the sum of net investment and depreciation called?
35. Which of the following is the correct sequence of broad and narrow concepts of National Income?
36. As of 2025, India is the _______ largest economy in the world (as measured by nominal GDP).
37. Which of the following is true?
38. Which sector has the highest percentage share of goods exports in the annual GDP (at current prices) for the year 2020-21?
39. Which of the following is the indicator criteria to represent the standard of living in a country?
40. Identify the true statement.
41. GDP in economics, the letter D represents ____
42. Which is a subsistence factor used to measure the poverty line in India?
43. Which of the following assumptions is made to determine the level of aggregate demand for final goods in the economy?
I. In the short run, we assume a fixed final
commodity price and a fixed interest rate.
II. The entire supply is considered to be
perfectly elastic
44. Which of the following states had the highest
45. Match the items in the list with the formula in the list.
Measurement of National Income Formula
GNP d. GNP - Depreciation
NNP a. C + I + G + Net Ex
GDP b. GDP - Depreciation
NDP c. GDP + Net factor
income from abroad
46. Labour force participation is an indicator which is used for analysing the occupational structure and unemployment in India. The labour force participation rate is the measure to evaluate working - age population in an economy. The participation rate refers to the total number of people or individuals who are curently employed or in search of a job.
47. The GDP deflator is also called :
48. Which is the parameter for the economic development?
49. The sum of production in the primary, secondary and tertiary sectors of the Indian Economy gives the value of:
50. What was the limit of poverty line suggested by the National Planning Committee in 1938 on the basis of minimum livelihood level?
