MCQ

Transfer payments refer to payments, which are made:

• Without any exchange of goods and services.

• To workers on transfer from one job to another.

• As compensation to employees

• None

Net domestic product at factor cost is also known as:

• Domestic Income

• Gross national product

• National income

• Personal income

In GNP calculation which of the following should be excluded?

• Rental income

• Interest payment

• Dividends

• Government transfer payments.

Output means ................ unless stated otherwise.

• Gross output at MP

• Net output at MP

• Gross output at FC

• None

Which of the following method/s is/are used to calculate national income in India.

• Production method

• Expenditure method

• Income method

• All the above

The national income estimation is the responsibility of

• NSSO

• CSO

• Finance ministry

• National income committee

The most appropriate measure of a country's economics growth is

• GDP

• NDP

• Per capita real income

• GNP

Which ministry is responsible for calculating GDP in india?

• Ministry of finance

• Ministry of commerce and industry

• Ministry of central statistical and program implementation

• Ministry of consumer affairs

What base year is used to calculate per capita income in India?

• 2004-05

• 2011-12

• 2001-2002

• 2014-15

Which is not added in the calculation of national income of india.

• The value of goods and services.

• The sold value of old fridge

• Services rendered by the housewives

• Both b and c