1. Which of the following methods is used to calculate national income by summing the total expenditure on final goods and services in an economy?
2. By subtracting _________ from GNP at MP, we get GDP at MP.
3. The price of wheat into-flour is a part of the ________ Method of measuring national income.
4. Which of the following is the incorrect order of concepts of national income from broad to narrow?
5. Which of the followng is not a properly stated component of the expenditure method of measuring national income?
6. Which Indian State has the highest GDP?
7. Gross National Product is equal to :
8. Gross Domestic Product + Net factor income from abroad =
9. The aggregate value of goods and services produced in an economy can be calculated by three methods: income method, expenditure method and ––––– method
10. Unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand is called
11. Which of the following is not a method of estimating national income?
12. Which of the following options represents the total income earned by individuals from all sources before deducting personal income taxes?
13. Who is the author of the book, ‘Poverty and Un-British Rule in India’?
14. Dadabhai Naoroji was the first person to discuss the concept of ............. in preindependence India.
15. The economist who for the first time scientifically determined National Income in India is-
16. 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
17. Depreciation is an annual allowance for the wear and tear of
18. Which of the following is the sum of net investment and depreciation called?
19. Which of the following is true?
20. The value added of a firm is calculated as ________
21. GDP deflator is equal to _________
22. If for the year a country's GDP was $1315 million, consumer spending was $900 million, investment by businesses was $180 million, exports were $ 85 million and imports were $ 100 million, calculate government spending?
23. 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.
24. What does GNP stand for ?
25. People like small farmer and seasonal labourers, who regularly moves in and out of poverty called ...............
26. 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
27. Which is the most commonly used indicator of macroeconomic performance?
28. 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?
29. Letter D in GDP stands for __________ in economics.
30. 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.
31. What is the income of all the residents of the country called?
32. Which of the following is correct regarding the National Income?
I. Intermediate goods are not included in the
calculation of national income.
II. Final goods are included in the calculation of
national income.
33. ‘M’ in BIMARU stands for which state?
34. Which of the following is not taken into account to estimate national income?
36. Full employment is the level at which there is…….
37. Disguised unemployment in India is mainly related to
38. According to the standard census definition, who of the following can be classified as a main worker in India?
39. Income of the state which arises out of the property left by the people without a legal heir is called _________.
40. What is Net National Product?
41. 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.
42. Which of the following is the indicator criteria to represent the standard of living in a country?
43. .......... is the unemployment which exists in any economy due to people being in the process of moving from one job to another.
44. Which is a subsistence factor used to measure the poverty line in India?
45. Value of Total Goods and Services Produced in a country is its...............
46. In economic terms what do we mean by 'intermediate goods'?
47. Which of the following is the correct sequence of broad and narrow concepts of National Income?
48. If C = Consumption, I = Investment, G = Government spending, Ex = exports & Im = Imports, then GDP =
49. 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.
50. GDP in economics, the letter D represents ____
