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MCQs

Total Questions : 150 | Page 6 of 15 pages
Question 51. Which of the following is equivalent to National income?
  1.    NDP at factor cost
  2.    GDP at market price
  3.    NNP at market price
  4.    NNP at factor cost
 Discuss Question
Answer: Option D. -> NNP at factor cost
Answer: (d)
NNP at factor cost is equivalent to national income. Net National Product at factor cost is the aggregate payments made to the factors of production.
NNP at FC is the total incomes earned by all the factors of production in the form of wages, profits, rent, interest etc. plus net factor income from abroad.
Question 52. Which is not included in the private income arising in a country?
  1.    Net factor income from abroad
  2.    Factor income from net domestic product
  3.    Current transfers from government
  4.    Current payments on foreign loans
 Discuss Question
Answer: Option D. -> Current payments on foreign loans
Answer: (d)
Private income arising in a country does not include current payments on foreign loans.
Private income includes any type of income received by a private individual or household, often derived from occupational activities, or income of an individual that is not in the form of a salary (e.g. income from investments).
Thus private income includes factor income from the net domestic product, net factor income from abroad & current transfers from the government.
Private income = Domestic product accruing to the private sector + Net factor income from abroad + Net other transfer income.
Question 53. Personal disposable income means?
  1.    Personal income- indirect taxes + fees+ fines
  2.    Personal income- direct taxes
  3.    Personal income- indirect taxes + fees+ fines+ social security contribution by employers
  4.    None of these
 Discuss Question
Answer: Option B. -> Personal income- direct taxes
Answer: (b)
Personal income = direct taxes + fees+ fines+ social security contribution by employers.
The amount of money that households have available for spending and saving after income taxes have been accounted for.
Disposable personal income is often monitored as one of the many key economic indicators used to gauge the overall state of the economy. Disposable income is total personal income minus personal current taxes.
Disposable Personal Income is the amount of money that households have avail see for spending & saving after income taxes have been counted for.
P.I = Direct taxes + fees + fines + social society contribution by employees
Question 54. One of the reasons for India’s occupational structure remaining more or less the same over the years has been that :
  1. invest pattern has been directed towards capital intensive industries
  2. productivity in agriculture has been high enough to induce people to stay with agriculture
  3. ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
  4. people are largely unaware of the significance of transition from agriculture to industry for economic development
Find out the correct option from the code :
  1.    None of the above
  2.    4 only
  3.    2 and 3 only
  4.    1 only
 Discuss Question
Answer: Option D. -> 1 only
Answer: (d)The gap between poor and rich will be wide and it must be increase when their investment lean towards capital sector. They only prefer profit.
Question 55. Which among the following sectors contribute most to GDP of India?
  1.    Secondary sector
  2.    Primary sector
  3.    All three contribute equally
  4.    Tertiary sector
 Discuss Question
Answer: Option D. -> Tertiary sector
Answer: (d)
Question 56. 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.Code
  1.    Only 2
  2.    Only 1
  3.    Both 1 and 2
  4.    Only 3
 Discuss Question
Answer: Option C. -> Both 1 and 2
Answer: (c)
Question 57. HDI is measured with reference to
  1. Infant Mortality
  2. Real GDP per capita
  3. Life Expectancy at birth
  4. Morbidity
Which of the statements given above is/are correct?
  1.    3 and 4 are correct
  2.    2 and 3 are correct
  3.    All are correct
  4.    1, 2 and 3 are correct
 Discuss Question
Answer: Option B. -> 2 and 3 are correct
Answer: (b)
Question 58. The most appropriate measure of a country’s economic growth is its
  1.    Net Domestic product
  2.    Gross Domestic product
  3.    Net National product
  4.    Per capita real income
 Discuss Question
Answer: Option D. -> Per capita real income
Answer: (d)
The most appropriate measure of the country’s economic growth is its “per capita real income” which is also denoted as NNP at factor cost population.
Question 59. Indian economy has witnessed highest growth rate in GDP in the year
  1.    2004 – 05
  2.    2003 – 04
  3.    2005 – 06
  4.    2006 – 07
 Discuss Question
Answer: Option D. -> 2006 – 07
Answer: (d)
In the year 2006 – 07, the Indian economy has witnessed the highest growth rate in GDP.
The economy grew by 7.7 %. Highest growth rate GDP - in 2010 (10.26%)
Question 60. Why is demographic dividend likely to be manifested in India in future?
  1.    Population of children below 7 years is likely to increase
  2.    Population in the age group between 8-15 years is likely to increase.
  3.    Population in the age group of 15-64 years is likely to increase
  4.    opulation in the age group above 65 years is likely to increase
 Discuss Question
Answer: Option C. -> Population in the age group of 15-64 years is likely to increase
Answer: (c)

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