Practice Quiz :- 17

1. Which of the following is definitely a major indication of the state of the economy of a country?
(a) Rate of GDP growth
(b) Rate of inflation
(c) Number of Banks in a country
(d) None of these

Ans.(a) Rate of GDP growth

2. Which of the following can be called as a part of the service sector?
(a) Textile mills
(b) Banking
(c) Coal mines
(d) Agricultural

Ans.(b) Banking

3. In terms of economics, the total value of the output (goods and services) produced and income received in a year by a domestic resident of a country put together is called
(a) Net National Product
(b) Gross National Product
(c) Gross National Income
(d) National Income

Ans.(b) Gross National Product

4. Which of the following is equivalent to national income?
(a) GDP at market price
(b) NDP at factor cost
(c) NNP at market price
(d) NNP at factor cost

Ans.(d) NNP at factor cost

5. Which sector of the Indian Economy contributes largest to the GNP?
(a) Primary sector
(b) Secondary sector
(c) Tertiary sector
(d) Public sector

Ans.(c) Tertiary sector

6. National Income estimates in India are prepared by
(a) Planning commission
(b) Reserve bank of India
(c) Central statistical organisation
(d) Indian statistical Institute

Ans.(c) Central statistical organisation

7. Per capita Income of a country derived from
(a) National Income
(b) Population
(c) National Income and Population both
(d) None of these

Ans.(c) National Income and Population both

8. The main source of National Income in India is
(a) service sector
(b) agriculture
(c) industrial sector
(d) trade sector

Ans.(a) service sector

9. Which of the following is not an example of economic overheads?
(a) Schools
(b) Sanitary facilities
(c) Roads and Railways
(d) Coal mines

Ans.(d) Coal mines

10. Who estimated National Income in India first?
(a) Dadabhai Naoroji
(b) R.C. Dutt
(c) V.K. R.V.Rao
(d) D.R. Gadgil

Ans.(a) Dadabhai Naoroji