national income & human development index section 3 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 1

GDP is defined as the value of all

a) goods and services in an economy in a year

b) goods produced in an economy in a year

c) final goods produced in an economy in a year

d) final goods and services produced in an economy in a year.

Question : 2

The “Dual Economy” is a mixture of ?

a) industrial sector and manufacturing sectors

b) traditional agriculture sector and modern industrial sector

c) state ownership of the means of production

d) industrial sector and trading of goods obtained through imports

e) None of these

Question : 3

The term National Income represents:

a) Gross national product at market prices minus depreciation plus net factor income from abroad.

b) Gross national product at market prices minus depreciation

c) Gross national product at market prices minus depreciation and indirect taxes plus subsidies.

d) Gross national product at market prices minus net factor income from abroad.

Question : 4

Among Indian economists, who had done pioneering work on National Income?

a) Prof. Shenoi

b) P. N Dhar

c) V. K. R. V Rao

d) Jagdish Bhagwati

Question : 5 [CDS-2014-II]

The value of all final goods and services produced by the normal residents of a country and their property, whether operating within the domestic territory of the country or outside in a year is termed as

a) Net National Income

b) Gross National Income

c) Gross Domestic Product

d) Net Domestic Product