1) GDP at factor cost
2) GNP at factor cost
3) GDP at market prices
4) NNP at factor cost.
5) GNP at market prices
Answer-3
Q2. The value of national output produced by residents of a country, whether located at home or overseas, after depreciation and excluding the influence of taxes and subsidies, is known as:
1) GDP at market prices
2) GNP at market prices
3) NNP at factor cost.
4) GNP at factor cost
5) GDP at factor cost
Answer-3
Q3. Which of the following represents the difference between GNP at market prices and GDP at market prices?
1) Net property income from abroad.
2) Imports
3) The value of depreciation
4) The value of taxes and subsidies
5) Exports
Answer-1
Q4. Which of the following is a widely used measure of the standard of living?
1) Real output (income) per employed person
2) Nominal output (income) per employed person
3) Real output (income) per unit of capital.
4) Real output (income) per head of population
5) Nominal output (income) per head of population
Answer-4
Q5. As per the CSO classification, which of the following does not fall under the industrial sector?
1) Construction
2) Manufacturing
3) Fisheries
4) Mining
5) Tannery
Answer-3
Q6. Which of the following is the most appropriate measure of a country's economic growth:
1) GDP
2) NDP
3) Per capita real income
4) GNP
5) GVA
Answer-3
Q7. Which of the following is added to national income while calculating personal income?
1) Transfer payments to individuals
2) Social security contributions
3) Corporate taxes
4) Undistributed profits
5) All the above
Answer-1
Q8. What is the relation between GDP and GNP:
1) GNP = GDP - net income from abroad
2) GNP = GDP + net income from abroad
3) GNP = NNP - net income from abroad
4) GNP = NNP + net income from abroad
5) No relation
Answer- 2
Q9. In order to avoid double counting when GDP is estimated, economists must:
1) Use GDP deflator
2) Calculate value added at each stage of production
3) Use retail prices
4) Use price of only intermediate goods
5) Exclude Tax
Answer-2
Q10. If savings of a country exceeds its investment then:
1) National income rises
2) National income falls
3) National income is not affected
4) None of the above
5) All the above
Answer-2
