national income & human development index section 1 MCQ Questions & Answers Detailed Explanation

Question : 1

Consider the following statements:

1. In India, more than 85% agriculture workers are mainly casual labourers.
2. Agriculture labourers in India are mainly dominated by the backward classes.

a) 1 and 2

b) 2 only

c) 1 only

d) None

Question : 2

In free economy, inequalities in income is due to

a) private property and inheritance

b) free competition

c) differences in the marginal productivity of labour

d) private property only

Question : 3

The term National Income represents

a) Gross National Product at market price minus depreciation plus net factor Income from abroad

b) Gross National Product at market price minus depreciation

c) Gross National Product at market price minus net factor income from abroad

d) Gross National Product at market price minus depreciation and indirect tax plus subsidies

Question : 4

The most simple and popular method of measuring economic development is to calculate the trend of Gross National Product (GNP) at

a) Constant prices

b) Current prices

c) None of the above

d) Both of the above

Question : 5

National product at factor cost is equal to

a) National product at market prices - indirect taxes + subsidies

b) Domestic product + Net factor income from abroad

c) Gross domestic-product - depreciation

d) National product at market prices + Indirect taxes + subsidies

Question : 6

‘World Development Report’ is an annual publication of

a) United Nations Development Programme

b) International Bank of Reconstruction and Development

c) World Trade Organisation

d) International Monetary Fund