Methods of Measuring National Income Quiz

What are the three primary methods used to measure National Income?

• Consumption method, Savings method, Investment method

• Income method, Expenditure method, Transfer method

• Product method, Income method, Consumption method

• Product method, Expenditure method, Savings method

Which cost is considered for calculating the national income in India?

• Factor cost

• Product cost

• Market cost

• Sunk cost

What does the ratio of Nominal GDP and Real GDP represent?

• GDP growth

• GDP deflator

• Real income

• None of the above

Which among the following items is considered while calculating National Income?

• Intermediate goods

• Estimated rent of the self-occupied property

• Sale and purchase of old goods

• More than one of the above

Which of the following is mostly used to measure the economic size of a nation?

• Gross Domestic Product

• Gross State Domestic Product

• Net National Product

• Gross National Product

Which of the following is NOT one of the methods of national income estimation?

• Banking method

• Expenditure method

• Product method

• Income method

Who computes the National Income in India?

• Reserve Bank of India

• National Statistical Office (NSO)

• Ministry of Statistics

• Ministry of Finance

What is meant by National income?

• Income of the Government

• Budget of the Government

• Sum total of factor incomes

• Profits of the public sector units

What is Repo Rate?

• Short term rate at which the government lends to the bank

• The bank gives loans to the Reserve Bank of India at short term rates

• The short term rate at which the bank provides loans to the customers

• The short-term rate at which the Reserve Bank of India lends to the bank

Gross primary deficit is the difference between ______.

• Revenue deficit and interest receipts

• Gross fiscal deficit and interest receipts

• Revenue deficit and interest payments

• Gross fiscal deficit and net interest liabilities