1. By subtracting _________ from GNP at MP, we get GDP at MP.
2. As of 2022, India is the _______ largest economy in the world (as measured by nominal GDP).
3. 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.
4. Which of the following is true?
5. In the estimation of national income, which of the following items will be subtracted from NNP at market price?
6. Which is the most commonly used indicator of macroeconomic performance?
7. Net National Product at market prices – (Indirect taxes – Subsidies) =
8. If C = Consumption, I = Investment, G = Government spending, Ex = exports & Im = Imports, then GDP =
9. GDP in economics, the letter D represents ____
10. Personal Income − Personal tax payments − Non-tax payments =
11. What is the income of all the residents of the country called?
12. Which of the following options represents the total income earned by individuals from all sources before deducting personal income taxes?
13. Which is the parameter for the economic development?
14. Why it is important to distinguish between final and intermediate goods/services in national income accounting?
15. 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.
16. The basis of determining dearness allowance to employees in India is…………
17. The aggregate value of goods and services produced in an economy can be calculated by three methods: income method, expenditure method and ––––– method
18. Which Indian State has the highest GDP?
19. In any economy, the income velocity of the hoarded money (idle) by the public is equal to ________.
20. In 1950-51, approximately what percent was the contribution of the industrial sector in the gross domestic product?
21. Gross National Product is equal to:
22. While calculating GDP, which among the following is not included?
23. Depreciation is an annual allowance for the wear and tear of
24. Which of the following is the sum of net investment and depreciation called?
25. Which of the following is not a properly stated component of the expenditure method of measuring national income?
26. Which of the following is not a method of estimating national income?
27. Letter D in GDP stands for __________ in economics.
28. Identify the true statement.
29. It may be tempting to consider a country's higher level of Gross Domestic Product (GDP) as an index of the relative well-being of that country's people. But there are some reasons due to which this may not be correct. Which of the following is not one of these reasons?
30. Value of Total Goods and Services Produced in a country is its...............
31. GDP deflator is equal to _________
32. Which of the following is the correct sequence of broad and narrow concepts of National Income?
33. National Income – Undistributed profits – Net interest payments made by households – Corporate tax + Transfer payments to the households from the government and firms is.....
34. People involved in _______ sector, process the primary materials and convert them into finished goods.
35. What is the economic impact of increase in productivity of firms?
36. The price of wheat into-flour is a part of the ________ Method of measuring national income.
37. The value added of a firm is calculated as ________
38. Which of the following areas make the largest contribution to national income in India?
39. Which of the following methods is used to calculate national income by summing the total expenditure on final goods and services in an economy?
40. If we sum the gross value added of all the firms of the economy in a year, we get a measure of the value of aggregate amount of goods and services produced by the economy in a year. Such an estimate is called _______.
41. Which sector has the highest percentage share of goods exports in the annual GDP (at current prices) for the year 2020-21?
42. Gross Domestic Product + Net factor income from abroad =
43. Net National Product at market prices – Net indirect taxes =
44. 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 |
45. While calculating Net Economic Welfare (NEW), which of the following items is subtracted from GNP?
46. Income of the state which arises out of the property left by the people without a legal heir is called _________.
48. What is Net National Product?
49. Which of the following is the incorrect order of concepts of national income from broad to narrow?
50. .......... is the total value of final goods and services produced within a country's border. over a given time period.
