{"id":10204,"date":"2024-07-11T08:55:17","date_gmt":"2024-07-11T07:55:17","guid":{"rendered":"https:\/\/mcqsadda.com\/?p=10204"},"modified":"2024-07-17T12:02:42","modified_gmt":"2024-07-17T11:02:42","slug":"national-income-set-1","status":"publish","type":"post","link":"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/national-income-set-1\/","title":{"rendered":"National Income Set &#8211; 1"},"content":{"rendered":"\n<h1 class=\"wp-block-heading has-text-align-right has-vivid-purple-color has-text-color has-link-color has-larger-font-size wp-elements-638462b1b27af39656edf69245d631bb\">Prev       <strong><a href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/national-income-set-1\/\">1<\/a>        2        3        4       <a title=\"\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/05\/06\/noun-set-5\/\"> <\/a>5<\/strong>       Next<\/h1>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-green-cyan-background-color has-background has-text-align-left wp-element-button\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/national-income-quiz-1\/\">mock test<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>1. <strong><strong>Which of the following is the correct term for calculating National Income at the market prices?<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Money income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B.  Non-monetary income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Real income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. None of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: A.Money income<BR>\nSOLUTION :The correct term for calculating national income at market prices is &#8220;money income&#8221;. National income is the total value of all the goods and services produced in an economy over a specific period, typically a year. It measures a country&#8217;s economic activity and the economic well-untry.<\/p>\n<\/div>egin\n\n\n\n<h2 class=\"wp-block-heading\"><strong>2. Which of the following is a method to measure the National Income?<\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A. Expenditure method<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Income method<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Product method<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. All of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER:D.All of the above <BR>\nSOLUTION: \nThe different methods of measuring National Income includes Income Method, Production (Value-Added) Method and Expenditure Method.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>3. <strong><strong>Which of the following is the correct term for calculating National Income at constant prices?<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Current income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. &nbsp;Domestic income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. &nbsp;Real income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. None of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER : C.Real income<BR>\nSOLUTION: \nThe correct answer is Real income. Key Points. National income. The total value of final goods and services produced by the normal residents during an accounting year, after adjusting depreciation.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>4. Which of the following items are not included while measuring the Gross National Product?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Illegal and leisure activities<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Purely financial transactions<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Transferring of used goods and non-market goods and services<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. All of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: D.All of the above<BR>\nSOLUTION: \nAll of the above<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>5. &nbsp;Which of the following is the employment theory related to?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Macroeconomics<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Static economics<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C.  Microeconomics<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. None of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: A.Macroeconomics<BR>\nSOLUTION: \nEmployment theory is related to Macro economics.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>6. &nbsp;<strong>The difference between the National Income and the Net National Product at market price is known as _______.<\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A.  National debt transfer<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Current transfers from the rest of the world<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Net indirect taxes<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. All of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: C.Net indirect taxes<BR>\nSOLUTION: \nThe difference between national income and net national product (NNP) at market price is the amount of net indirect taxes (NIT).<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>7. <strong><strong><strong>Which of the following is not a part of the National Income?<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Undistributed profits<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B.  Income from government expenditure<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. The interest amount on the unproductive national debt<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. The payments made by a household to a firm for purchasing goods and services<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: C.The interest amount on the unproductive national debt<BR>\nSOLUTION :\nNational income doesn&#8217;t include interest on the unproductive national debt. National income defines the value of goods and services produced by any country in the period of a financial year.\n<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>8. &nbsp;<strong>Which of the following is another term for the Net National Product at factor cost?<\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Personal Income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. National Income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Gross National Product<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. Net Domestic Product<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: B.National Income<BR>\nSOLUTION:\nIt is also known as national income. Net National Product at Factor cost is the purest form of income of a country.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>9. Which of the following organisations calculate the Gross Domestic Product in India?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Reserve Bank of India<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Indian Statistical Institute<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. National Statistical Office<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. None of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: C.National Statistical Office<BR>\nSOLUTION: \nIn India the entire responsibility of calculating the GDP is with the Central Statistics Office under the Ministry of Statistics and Program.\n<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>10. The primary sector within a country for the calculation of National Income includes __________.<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Small scale industries<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Retail trading<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Agriculture<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. All of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: D.All of the above<BR>\nSOLUTION:\nAll of the above.\n<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-green-cyan-background-color has-background has-text-align-left wp-element-button\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/national-income-quiz-1\/\">mock test<\/a><\/div>\n<\/div>\n\n\n\n<h1 class=\"wp-block-heading has-text-align-right has-vivid-purple-color has-text-color has-link-color has-larger-font-size wp-elements-638462b1b27af39656edf69245d631bb\">Prev       <strong><a href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/national-income-set-1\/\">1<\/a>        2        3        4       <a title=\"\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/05\/06\/noun-set-5\/\"> <\/a>5<\/strong>       Next<\/h1>\n","protected":false},"excerpt":{"rendered":"<p>Prev 1 2 3 4 5 Next 1. Which of the following is the correct term for calculating National Income at the market prices? A. Money income B. Non-monetary income C. Real income D. None of the above ANSWER &#038; SOLUTION ANSWER: A.Money income SOLUTION :The correct term for calculating national income at market prices<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[5654,5655,5646,4029,5649,5652,5470,5474,5466,5472,5471,5467,5465,5469,5468,5473],"class_list":{"0":"post-10204","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economics","7":"tag-economics-mcqs-for-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-exams","8":"tag-economics-mcqs-for-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-examsin-kannada","9":"tag-exam-veda","10":"tag-mcqs-adda","11":"tag-mcqs-for-pc-psi-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-exams","12":"tag-mcqs-for-pc-psi-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-examsin-kannada","13":"tag-the-difference-between-the-national-income-and-the-net-national-product-at-market-price-is-known-as-_______","14":"tag-the-primary-sector-within-a-country-for-the-calculation-of-national-income-includes-__________","15":"tag-which-of-the-following-is-a-method-to-measure-the-national-income","16":"tag-which-of-the-following-is-another-term-for-the-net-national-product-at-factor-cost","17":"tag-which-of-the-following-is-not-a-part-of-the-national-income","18":"tag-which-of-the-following-is-the-correct-term-for-calculating-national-income-at-constant-prices","19":"tag-which-of-the-following-is-the-correct-term-for-calculating-national-income-at-the-market-prices","20":"tag-which-of-the-following-is-the-employment-theory-related-to","21":"tag-which-of-the-following-items-are-not-included-while-measuring-the-gross-national-product","22":"tag-which-of-the-following-organisations-calculate-the-gross-domestic-product-in-india"},"_links":{"self":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts\/10204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/comments?post=10204"}],"version-history":[{"count":2,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts\/10204\/revisions"}],"predecessor-version":[{"id":10436,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts\/10204\/revisions\/10436"}],"wp:attachment":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/media?parent=10204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/categories?post=10204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/tags?post=10204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}