Indian economic development quiz

What does National Income represent?

• Total expenditure of a country

• Total imports of a country

• Total value of goods and services produced in a country

• Total government revenue

Which of the following is NOT a method of measuring National Income?

• Income method

• Import method

• Expenditure method

• Output method

The Expenditure Method of measuring National Income calculates:

• Total spending on goods and services

• Total taxes collected

• Total production of goods

• Total employment

What is included in the calculation of National Income?

• Transfer payments

• Wages, rent, interest, and profits

• Charitable donations

• Illegal activities

Gross Domestic Product (GDP) is:

• The same as National Income

• The total market value of all final goods and services produced within a country in a year

• The value of all exports minus imports

• Government expenditure on public goods

Which of the following is a type of National Income measurement?

• Net National Product (NNP)

• International Trade

• Foreign Investment

• Population Growth

What is the significance of calculating National Income at constant prices?

• To measure only services

• To eliminate the effect of inflation

• To measure only agricultural output

• To include international trade

National Income at current prices is measured using:

• Prices at the current year

• Base year prices

• Inflation-adjusted prices

• Tax-inclusive prices

Which sector contributes the most to National Income in developing countries?

• Agricultural sector

• Industrial sector

• Services sector

• Technology sector

National Income increases when:

• There is an increase in the production of goods and services

• The government increases taxes

• The population decreases

• There is a decrease in inflation