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Economic MCQ Questions with answers

Here Important Economic MCQ questions are added which are frequently asked in almost all the examinations. You can check the correct answer of any question on clicking the show answer button or on option itself. The Correct answer will be displayed below. You can share any question with your friends on whatsapp by tapping whatsapp button.

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Learn Economic MCQs [Page 1 of Department 2]

U

Uday Singh • 7.23K Points
Tutor III

1) The total value of goods and services produced in a country during a given period is–

(A) Disposable Income
(B) National Income
(C) Per Capita Income
(D) Net National Income
Correct Answer - Option (B)

No Explanation found. Add Explanation and get +2 points.

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U

Uday Singh • 7.23K Points
Tutor III

2) An individual’s actual standard of living can be assessed by–

(A) Gross National Income
(B) Net National Income
(C) Per Capita Income
(D) Disposable Personal Income
Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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U

Uday Singh • 7.23K Points
Tutor III

3) A rising Per Capita Income will indicate a better welfare, if it is accompanied by–

(A) changed income distribution in favour of rich
(B) unchanged income distribution overall
(C) changed income distribution in favour of poor
(D) changed income distribution in favour of industrial labour
Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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U

Uday Singh • 7.23K Points
Tutor III

4) Which one of the following is not method of estimating Nations Income?

(A) Expenditure method
(B) Product method
(C) Matrix method
(D) Income method
Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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U

Uday Singh • 7.23K Points
Tutor III

5) National Income Estimates in India are prepared by–

(A) National Development Council
(B) National Productivity Council
(C) National Income Committee
(D) Central Statistical Organisation
Correct Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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U

Uday Singh • 7.23K Points
Tutor III

6) National Income include–

(A) financial help to earthquake victims
(B) pocket money of a child
(C) winning of a lottery prize
(D) construction of a new house
Correct Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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D

Deepak Sahoo • 10.63K Points
Tutor II

7) Depreciation is equal to–

(A) Gross National Product — Net National Product
(B) Net National Product — Gross National Product
(C) Gross National Product — Personal Income
(D) Personal Income — Personal Taxes
Correct Answer - Option (A)

No Explanation found. Add Explanation and get +2 points.

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D

Deepak Sahoo • 10.63K Points
Tutor II

8) Net National Product (NNP) of a country is–

(A) GDP minus Depreciation allowances
(B) GDP plus Net Income from abroad
(C) GNP minus Net Income from abroad
(D) GNP minus Depreciation allowances
Correct Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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D

Deepak Sahoo • 10.63K Points
Tutor II

9) Personal Disposable income is–

(A) Always equal to Personal Income
(B) Always more than Personal Income
(C) Equal to Personal Income minus Indirect Taxes
(D) Equal to Personal Income minus Direct Taxes
Correct Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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D

Deepak Sahoo • 10.63K Points
Tutor II

10) Which of the following is not included in the National Income?

(A) Imputed rent of owner-occupied houses
(B) Government expenditure on making new bridges
(C) Winning a lottery
(D) Commission paid to an agent for sale of house
Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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