macro fundamentals, GDP, investment & growth section 2 MCQ Questions & Answers Detailed Explanation

Question : 1

Consider the following statements regarding Gross Domestic Product:

1. It is the value added by all the firms in the economy
2. It is the final value of goods and services produced in the economy
3. It is the sum of final consumption and investment expenditure by the household, private and government sector and net of exports and imports
4. It is the income received by the four factors of production

a) (i), (ii) & (iv) only

b) (i), (ii) & (iii) only

c) (i) & (ii) only

d) All of the above

Question : 2

India disguised unemployment is found in

a) Industrial Sector

b) Agricultural Sector

c) Trade Sector

d) Service Sector

Question : 3

Quarterly and Annual GDP data is released by NSO with a time lag of:

a) Three months

b) Two months

c) One month

d) Four months

Question : 4

Following are the source of institutional credit to agriculture in India.

1. Co-operative Banks
2. Regional Rural Banks
3. Commercial Banks

a) 2, 1, 3

b) 1, 3, 2

c) 3, 1, 2

d) 3, 2, 1

Question : 5

The prices at which the government purchases grains for maintaining public distribution system and for building up buffer-stock is known as

a) Procurement Prices

b) Minimum Support Prices

c) Ceiling Price

d) Issue Prices

Question : 6

Which of the following statements are true regarding Gross National Income:

1. It is the income earned by a country's Residents
2. It is the income earned by a country's residents and nonresidents both
3. It is calculated at market price by NSO
4. It is equal to GDP plus exports minus imports

a) (ii) & (iii) only

b) (i) & (iv) only

c) (i) & (iii) only

d) (ii), (iii) & (iv) only