MCQOPTIONS
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MCQOPTIONS
This section includes 47 Mcqs, each offering curated multiple-choice questions to sharpen your Indian Economy knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
When development in economy takes place, the |
| A. | first falls and then rises |
| B. | first rises and then falls |
| C. | keeps on increasing |
| D. | remains constant |
| Answer» D. remains constant | |
| 2. |
A firm sell |
| A. | GNP to rise by 1000 |
| B. | GDP to rise by 1000 |
| C. | National income to rise by 1000 |
| D. | No impact on Gross National Product |
| Answer» E. | |
| 3. |
One of the problems in |
| A. | under-employment |
| B. | inflation |
| C. | non-monetised consumption |
| D. | low savings |
| Answer» D. low savings | |
| 4. |
Personal disposable |
| A. | Personal income -indirect taxes |
| B. | Personal income -direct taxes + fees + fines |
| C. | Personal income -direct taxes + fees + fines + social security contribution by employers |
| D. | None of these |
| Answer» D. None of these | |
| 5. |
As per the statistics on foreign debt at the end of |
| A. | About 80 : 20 |
| B. | About 81.5 : 18.5 |
| C. | About 70 : 30 |
| D. | About 61.5 : 29.5 |
| Answer» C. About 70 : 30 | |
| 6. |
Per capita |
| A. | National Income |
| B. | Population |
| C. | National Income and population both |
| D. | None of these |
| Answer» D. None of these | |
| 7. |
In terms of |
| A. | Net National Product |
| B. | Gross National Product |
| C. | Gross National Income |
| D. | National income |
| Answer» C. Gross National Income | |
| 8. |
Which of the following is equivalent to |
| A. | GDP at market price |
| B. | NDP at factor cost |
| C. | NNP at market price |
| D. | NNP at factor cost |
| Answer» E. | |
| 9. |
Which sector of the Indian economy contributes |
| A. | Primary sector |
| B. | Secondary sector |
| C. | Tertiary sector |
| D. | Public sector |
| Answer» D. Public sector | |
| 10. |
The National Income |
| A. | the annual revenue of the government |
| B. | sum total of factor incomes |
| C. | surplus of PSU'S |
| D. | export minus import |
| Answer» C. surplus of PSU'S | |
| 11. |
Net National Product (NNP) |
| A. | GDP minus depreciation allowances |
| B. | GDP plus net income from abroad |
| C. | GNP minus net income from abroad |
| D. | GNP minus depreciation allowances |
| Answer» E. | |
| 12. |
National Income estimates |
| A. | Planning Commission |
| B. | Reserve Bank of India |
| C. | Central Statistical Organisation |
| D. | Indian Statistical Institute |
| Answer» D. Indian Statistical Institute | |
| 13. |
The Per Capita Income in India was |
| A. | Dadabhai Naoroji |
| B. | R.C. Dutta |
| C. | M.G. Ranade |
| D. | W. Hunter |
| Answer» B. R.C. Dutta | |
| 14. |
NNP |
| A. | GNP + Depreciation |
| B. | GNP + Export |
| C. | GNP - Depreciation |
| D. | GNP - Export |
| Answer» D. GNP - Export | |
| 15. |
Who coined the term |
| A. | A.K. Sen |
| B. | Kirit S. Parikh |
| C. | Raj Krishna |
| D. | Montek Singh Ahluwalia |
| Answer» D. Montek Singh Ahluwalia | |
| 16. |
GDP |
| A. | GDP minus indirect taxes plus subsidies |
| B. | GNP minus depreciation allowances |
| C. | NNP plus depreciation allowances |
| D. | GDP minus subsidies plus indirect taxes |
| Answer» B. GNP minus depreciation allowances | |
| 17. |
Which one among the following countries has the |
| A. | China |
| B. | India |
| C. | Indonesia |
| D. | Sri Lanka |
| Answer» C. Indonesia | |
| 18. |
As the economy develops, the share of the |
| A. | Decreases |
| B. | Decreases then increases |
| C. | Increases |
| D. | Remains constant |
| Answer» D. Remains constant | |
| 19. |
Consider the following States |
| A. | 1, 2, 3 ,4 |
| B. | 2, 1, 3, 4 |
| C. | 4, 3, 2, 1 |
| D. | 3, 4, 2, 1 |
| Answer» B. 2, 1, 3, 4 | |
| 20. |
Which one of the following is NOT an example of |
| A. | Schools |
| B. | Sanitary Facilites |
| C. | Roads and Railways |
| D. | Coal Mines |
| Answer» E. | |
| 21. |
Which of the following can be called as a part of the |
| A. | Textile Mills |
| B. | Banking |
| C. | Coal Mines |
| D. | Agriculture |
| Answer» C. Coal Mines | |
| 22. |
A firm sells new shares worth |
| A. | Gross National Product to rise by 1000 |
| B. | Gross Domestic Product to rise by 1000 |
| C. | National Income to rise by 1000 |
| D. | No impact on Gross National Product |
| Answer» E. | |
| 23. |
Who had |
| A. | Dadabhai Naoroji |
| B. | R.C. Dutt |
| C. | V.K.R.V. Rao |
| D. | D.R. Gadgil |
| Answer» B. R.C. Dutt | |
| 24. |
In an open economy, the |
| 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 |
| Answer» D. Y = C + I - G + X - M | |
| 25. |
The base year for |
| A. | 1990-91 |
| B. | 1993-94 |
| C. | 1999-2000 |
| D. | 2000-01 |
| Answer» C. 1999-2000 | |
| 26. |
National Income estimates |
| A. | Planning Commiossion |
| B. | Reserve Bank of India |
| C. | Central Statistical Ogranisation |
| D. | Indian Statistical Institute |
| Answer» D. Indian Statistical Institute | |
| 27. |
Depreciation |
| A. | Gross National Product-Net National Product |
| B. | Net National Product-Gross National Product |
| C. | Gross National Product-Personal Income |
| D. | Personal Income-Personal Taxes |
| Answer» B. Net National Product-Gross National Product | |
| 28. |
The most appropriate |
| A. | Gross Domestic Product |
| B. | Net Domestic Product |
| C. | Net National Product |
| D. | Per Capita Real Income |
| Answer» E. | |
| 29. |
Who wrote a book describing the |
| A. | Lala Lajpat Rai |
| B. | Mahatma Gandhi |
| C. | Jawahar Lal Nehru |
| D. | Dadabhai Naoroji |
| Answer» E. | |
| 30. |
Which is not included in the |
| A. | Factor income from net domestic product |
| B. | Net factor income from abroad |
| C. | Current transfers from Government |
| D. | Current Payments on foreign loans |
| Answer» E. | |
| 31. |
Which sector of |
| A. | Primary Sector |
| B. | Secondary Sector |
| C. | Tertiary Sector |
| D. | Public Sector |
| Answer» D. Public Sector | |
| 32. |
Net National Product (NNP) |
| A. | GDP minus depreciation allowances |
| B. | GDP plus net income from abroad |
| C. | GNP minus net income from abroad |
| D. | GNP minus depreciation allowances |
| Answer» E. | |
| 33. |
Per |
| A. | National Income |
| B. | Population |
| C. | National Income and Population both |
| D. | None of these |
| Answer» D. None of these | |
| 34. |
The Main |
| A. | Service Sector |
| B. | Agriculture |
| C. | Industrial Sector |
| D. | Trade Sector |
| Answer» B. Agriculture | |
| 35. |
Hindu Rate of growth |
| A. | GDP |
| B. | Population |
| C. | Foodgrains |
| D. | Per Capita Income |
| Answer» B. Population | |
| 36. |
The growth rate of Per |
| A. | growth of population |
| B. | increase in price level |
| C. | growth in money supply |
| D. | increase in the wage rate |
| Answer» C. growth in money supply | |
| 37. |
Which of the following is the correct definition of the term |
| A. | National Income Means the total amount of money Government earns only through direct tax collections every year |
| B. | It is the total value of all sorts of stocks held by a country at a particular point of time |
| C. | This is the measure of the volume of commodities and services turned out during a given period counted without duplication. |
| D. | All 'a', 'b' and 'c' |
| E. | None of the above |
| Answer» D. All 'a', 'b' and 'c' | |
| 38. |
Assertion (A) |
| A. | Both A and R are true and R is the correct explanation of A |
| B. | Both A and R are true but R is not a correct explanation of A |
| C. | A is true But R is false |
| D. | A is false but R is true |
| Answer» C. A is true But R is false | |
| 39. |
National income figure |
| A. | very exact |
| B. | partically exact |
| C. | only estimates |
| D. | wrong |
| Answer» C. only estimates | |
| 40. |
Real National income |
| A. | national income at constant prices |
| B. | per capita income |
| C. | national income at current price |
| D. | net factor income |
| Answer» B. per capita income | |
| 41. |
Gross Domestic Produced (GDP) |
| A. | goods produced in an economy in a year |
| B. | goods and services in an economy in a year |
| C. | final goods produced in an economy in a year |
| D. | final goods and services produced in an economy in a year |
| Answer» E. | |
| 42. |
Many a times we read a term in financial newspapers |
| A. | Gross Domestic Product |
| B. | Gross Depository Revenue |
| C. | Global Domestic Ratio |
| D. | Global Depository Receipts |
| E. | None of the above |
| Answer» B. Gross Depository Revenue | |
| 43. |
Which one of the following is the correct sequence in the decreasing order of contribution of different sources to the |
| A. | Service-Industry-Agriculture |
| B. | Service-Agriculture-Industry |
| C. | Industry-Service-Agriculture |
| D. | Industry-Agriculture-Service |
| Answer» B. Service-Agriculture-Industry | |
| 44. |
Which of the following is definitely a major indication of the |
| A. | Rate of GDP growth |
| B. | Rate of inflation |
| C. | Number of Banks in a country |
| D. | Stock of food grains in a country |
| E. | None of these |
| Answer» B. Rate of inflation | |
| 45. |
Which one of the following is NOT a method of |
| A. | Value Added Method |
| B. | Income Method |
| C. | Expenditure |
| D. | Investment Method |
| Answer» E. | |
| 46. |
In terms of economics, the total |
| A. | Net National product |
| B. | Gross National Product |
| C. | Gross National Income |
| D. | National Income |
| E. | None of these |
| Answer» C. Gross National Income | |
| 47. |
National Income |
| A. | total revenue of the State |
| B. | production of goods and services |
| C. | net profit earned and expenditure made by the State |
| D. | the sum of all fraction of income |
| Answer» C. net profit earned and expenditure made by the State | |