National and Per Capita Income AFCAT Questions

AFCAT Indian Economy

National and Per Capita Income MCQ Questions


1.
National income is the total value of ______________ produced in a country during a given year.
A.
Services only
B.
Goods and services
C.
Agriculture only
D.
Industrial output only
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ANSWER :
B. Goods and services
2.
Per capita income is calculated by dividing national income by ______________.
A.
Total population
B.
Total exports
C.
Number of workers
D.
Land area
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ANSWER :
A. Total population
3.
The formula for calculating national income is:
A.
C + I + G - T
B.
C + I + G + (X - M)
C.
P × Q - Taxes
D.
C × I - M
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ANSWER :
B. C + I + G + (X - M)
4.
Which of the following is NOT included in the calculation of national income?
A.
Salaries
B.
Black market income
C.
Exports
D.
Profits
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ANSWER :
B. Black market income
5.
The income earned by foreign residents within the country is part of ______________.
A.
Gross Domestic Product
B.
Net National Product
C.
Per Capita Income
D.
Disposable Income
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ANSWER :
A. Gross Domestic Product
6.
National income is measured using which of the following methods?
A.
Income, expenditure, and product methods
B.
Expenditure only
C.
Income only
D.
Product only
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ANSWER :
A. Income, expenditure, and product methods