Economy through Questions : National Income
1. In India, National Income is computed by which of the following? [UPPCS (Pre) 1995, 2006]
(A) Planning Commission
(B) Ministry of Finance
(C) Central Statistical Organisation
(D) Reserve Bank of India
2. Who among the following was the Chairman of National Committee appointed by Government of India
in 1949? [UPPCS (Mains) 2015]
(A) C.R. Rao
(B) P.C. Mahalanobis
(C) V.K.R.V. Rao
(D) K.N. Raj
3. The national income of a country for a given period is equal to the
[UPSC (Pre) 2013]
(A) Total value of goods and services produced by the nationals
(B) Sum of total consumption and investment expenditure
(C) Sum of personal income of all individual
(D) Money value of final goods and services produced
4. Which among the following sectors contribute most to GDP of India?
[MPPCS (Pre) 2008]
(A) Primary sector
(B) Secondary sector
(C) Tertiary sector
(D) All three contribute equally
5. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India? [UPSC (Pre) 2008]
(A) Service, Industry, Agriculture
(B) Service, Agriculture, Industry
(C) Industry, Service, Agriculture
(D) Industry, Agriculture, Service
6. Indicate the vital change in the measurement of National Income
of India. [RAS (Pre) 2015]
(A) Base year has been changed from 2004-05 to 2011-12
(B) Calculation has been changed from factor cost to market prices
(C) Calculation has been changed from current prices to constant prices
(D) Both the base year and calculation method have been changed
7. The Government of India has decided to revise the base for estimating the GDP from
[HPPSC (Mains) 2014]
(A) 2001-02 to 2010-11
(B) 2004-05 to 2013-14
(C) 2004-05 to 2011-12
(D) 2001-02 to 2011-12
8. Which of the following is a sign of economic growth? [RAS (Pre) 2013]
(A) An increase in national income at constant prices during a year
(B) A sustained increase in real per capita income
(C) An increase in national income at current prices overtime
(D) An increase in national income along with increase in
population
9. The most appropriate measure of a country’s economic growth is its
[UPSC (Pre) 2001]
(A) Gross Domestic Product
(B) Net Domestic Product
(C) Net National Product
(D) Per Capita Real Income
10. The Hindu rate of growth refers to the growth rate of
[UPPCS (Mains) 2004
UPPCS (Pre) 1996, 2006]
(A) Per Capita Income
(B) National Income
(C) Population
(D) Literacy
11. Which of the following causes have been mainly responsible for
the slow growth of real per capita income in India?
1. Rapid rise in population
2. Rapid rise in prices
3. Slow pace of progress in agriculture and industrial fields
4. Non-availability of foreign exchange
Choose the correct answer from the codes given below.
[UPPSC (Pre) 2001]
(A) Only 1 and 2 (B) Only 1 and 3
(C) Only 1 and 4 (D) All of these
12. The first measure of India’s National Income was made by
[UPPCS (Pre) 2007
UPSC (Mains) 2014]
(A) William Digby
(B) Dadabhai Naoroji
(C) M.G. Ranade
(D) V.K.R.V. Rao
13. The Per Capita Income in India was rupee 20 in 1867-68 was ascertained for the first time by [UPSC (Pre) 2000]
(A) M.G. Ranade
(B) Sir W. Hunter
(C) R.C. Dutta
(D) Dadabhai Naoroji
14. Which of the following statements is not true of the Indian Economy?
[UPPCS (Pre) 2010, 2012]
(A) Its share of the world population is only 16%, but its share of world GDP is 1.6%
(B) The share of service sector in India’s GDP is only 25%
(C) 58% of its working population is engaged in agriculture, but
the contribution of agriculture to the national income is 22%
(D) India occupies only 2.4% of th world’s geographical area
15. The growth rate of per capita income at current prices is higher
than that of per capita income at constant prices, because the later
takes into account the rate of [Karnataka PSC (Pre) 2000]
(A) growth of population
(B) increase in price level
(C) growth of money supply
(D) increase in the wage rate
16. Human Development Index (HDI) comprises literacy rates, life
expectancy at birth and
[MPPCS (Pre) 2008]
(A) Gross Domestic Product per head in US Dollars
(B) Gross Domestic Product per head at real purchasing power
(C) Gross National Product in US Dollars
(D) National Income per head in US Dollars
17. National Income is the
[UPSC (Pre) 1997]
(A) Net National Product at market
price
(B) Net National Product at factor
cost
(C) Net Domestic Product at
market price
(D) Net Domestic Product at factor
cost
18. The term National Income represents [UPCS (Pre) 2001]
(A) Gross National Product at market price minus depreciation
(B) Gross National Product at market price minus depreciation plus net factor Income from abroad
(C) Gross National Product at market price minus depreciation and indirect tax plus subsidies
(D) Gross National Product at market price minus net factor income from abroad
19. In an open economy, the National Income (y) of the economy is (C, I, G, X, M, Y stand for Consumption, Investment, Government Expenditure, Total Exports, Total Imports and National Income, respectively).
Select the correct answer from the
following. [UPSC (Pre) 2000]
(A) Y = C + I + G + X
(B) Y = I + G – X + M
(C) Y = C + I + G + (X – M)
(D) Y = C + I – G + (X – M)
20. Which of the following is/are the component(s) of Gross Domestic Capital Formation (GDCF)?
1. Gross Domestic Saving
2. Net Capital Inflow
3. Direct Foreign Investment
Choose the correct answer from the codes given below.
[HPPSC (Pre) 2011]
Code
(A) Only 1 (B) Only 2
(C) Only 3 (D) Both 1 and 2
21. The most simple and popular method of measuring economic
development is to calculate the trend of Gross National Product
(GNP) at [HPPSC (Pre) 2014]
(A) Current prices
(B) Constant prices
(C) Both of the above
(D) None of the above
22. When National Income is calculated with reference to a base
year, it is called [HPPSC (Pre) 2014]
(A) Nominal national income
(B) Real national income
(C) Net national income
(D) Gross national income
23. Which among the following are the factors that determine the national income of a country?
[HPPSC (Pre) 2014]
(A) Quantity and Quality of factors
of produced
(B) The state of technical
knowledge
(C) Economic and Political stability
(D) All of the above
24. National Sample Survey Office (NSSO) was established in the year
[HPPSC (Mains) 2014]
(A) 1950 (B) 1951
(C) 1947 (D) 1948
25. Which of the following methods is not being used in the unemployment estimation by the NSSO in India?
[UPPCS (Mains) 2005, 2016]
(A) Current monthly status
(B) Current daily status
(C) Current weekly status
(D) Usual principal status
26. Economic Survey in India is published by [UPSC (Mains) 2016]
(A) Ministry of Finance
(B) Planning Commission
(C) Ministry of Commerce
(D) Indian Statistical Institute
27. One of the problems in calculating National Income in India is
[UKPSC (Pre) 2016
BPSC (Pre) 2018]
(A) Under-employment
(B) Inflation
(C) Low level of savings
(D) Non-monetised consumption
28. What was India’s estimated GDP growth rate for 2018-19 in the
Economic survey?
[HPPSC (Pre) 2018]
(A) 6.3% - 7.1%
(B) 7.2% - 7.5%
(C) 7% - 7.5%
(D) 7% - 7.2%
Answer Sheet
1. (C) 2. (B) 3. (D) 4. (C) 5. (A) 6. (D) 7. (C) 8. (B) 9. (D) 10. (B)
11. (B) 12. (B) 13. (D) 14. (B) 15. (B) 16. (D) 17. (B) 18. (C) 19. (C) 20. (D)21. (B) 22. (B) 23. (D) 24. (A) 25. (A) 26. (A) 27. (D) 28. (C)
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