Economic Growth and National Income CDS Questions

CDS Economy

Economic Growth and National Income MCQ Questions


1.
Who made the first scientific attempt to estimate national income in India after independence?
A.
Dadabhai Naoroji
B.
The Planning Commission in 1956
C.
V. K. R. V. Rao individually
D.
The National Income Committee (1949) under P. C. Mahalanobis
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ANSWER :
D. The National Income Committee (1949) under P. C. Mahalanobis
2.
The first individual to attempt the estimation of national income in India was:
A.
Findlay Shirras
B.
Simon Kuznets
C.
V. K. R. V. Rao
D.
Dadabhai Naoroji
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ANSWER :
D. Dadabhai Naoroji
3.
Which organisation is currently responsible for the estimation of national income in India?
A.
NITI Aayog
B.
Comptroller and Auditor General
C.
National Statistical Office (NSO) under MoSPI
D.
Reserve Bank of India
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ANSWER :
C. National Statistical Office (NSO) under MoSPI
4.
National income of a country is best defined as:
A.
NNP at factor cost
B.
The total value of all goods produced in a year
C.
GDP at market prices
D.
Total government revenue in a year
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ANSWER :
A. NNP at factor cost
5.
Which of the following are the three methods of measuring national income?
A.
Income, Saving and Investment methods
B.
Product, Income and Expenditure methods
C.
Output, Saving and Consumption methods
D.
Production, Banking and Trade methods
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ANSWER :
B. Product, Income and Expenditure methods
6.
In the value-added (product) method, value added is equal to:
A.
Value of output plus intermediate consumption
B.
Value of output minus value of intermediate goods
C.
Sales minus profit
D.
Wages plus rent
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ANSWER :
B. Value of output minus value of intermediate goods