Tag: economics

Questions Related to economics

Illegal income is _________ in  National Income.

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. calculated

  2. included

  3. not included

  4. none of the above

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Correct Option: C
Explanation:

Illegal income is not recorded or reported to the government or authorities since it has not been generated through legal economic activities. Thus, it is not accounted for when national income is calculated.

National Income estimates are _______ in India.

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. accurate

  2. not accurate

  3. rising

  4. none

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Correct Option: B

Illegal income includes ______ while transfer income includes ________.

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. cost, price

  2. taxes, payments

  3. none of the above

  4. betting, scholarships

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Correct Option: D

National Income is the ________ of all goods and services produced by a country during a period of year.

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. physical quantity

  2. money value

  3. value

  4. all the three

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Correct Option: B

For developed economics which of the following methods is most suitable?

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. Value Added Method

  2. Income Method

  3. Expenditure Method

  4. Product Method

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Correct Option: B

"The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money."- who says this?

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. Samuelson

  2. Kuznets

  3. Hicks

  4. Pigou

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Correct Option: C

To avoid double counting in national income GDP is calculated by summing up ________.

economics circular flow of income and methods of calculating national income expenditure method and income method methods of measuring national income national income accounting

  1. the value of all goods and services

  2. the value of final goods only

  3. the value of producers goods only

  4. the value of non-durable goods

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Correct Option: B

Which of the following ministries lay down the policies and programme for the development and regulation of the country's water resources?

economics spend carefully physical quality of life index dynamic of human development social development

  1. Ministry of Rural Development

  2. Ministry of Agriculture

  3. Ministry of Environment and Forests

  4. Ministry of Water Resources

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Correct Option: D

State whether the following statement is True or False.
Economic reforms were introduced when Dr. Manmohan Singh was not the Finance Minister.

economics dynamic of human development physical quality of life index social development economic study

  1. True

  2. False

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Correct Option: B

The 'Cafeteria Approach' to the population policy of the Government of India refers to __________.

economics dynamic of human development physical quality of life index social development economic study

  1. Following a single method in family planning

  2. Choice in the use of scientifically approved contraceptive

  3. Raising economic welfare to check population growth

  4. None of the above

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Correct Option: B