National Income - Indian Economy
Congratulations - you have completed National Income - Indian Economy.
You scored %%SCORE%% out of %%TOTAL%%.
Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1 |
How are people classified?
People are classified into three types namely poor, rich and middle class people based on their individual income. |
Question 2 |
How are countries classified?
Countries are classified into two types as developed country and developing country based on their national income. |
Question 3 |
What is the measure for checking development of a country?
National Income |
Question 4 |
What is national income?
National income is measure of the total value of goods and services produced by an economy over a period of time, normally one year. |
Question 5 |
What is Gross National Product?
Commonly national income is called as Gross National Product or National Dividend. It is the total value of goods and services produced and income received in a year by domestic residents of a country. |
Question 6 |
What is Gross Domestic Product?
Gross Domestic Product is the total value of goods and service produced by the factor of production within the geographical boundaries of a country. |
Question 7 |
What tells about the value of output produced and income received in a year by domestic residents of a country?
Gross National Product |
Question 8 |
What is Net National Product?
Net National Product is arrived by making some adjustment with regard to deprivation. That is we arrive at NNP by deducting the value of deprivation from Gross National Product. |
Question 9 |
What is the formula for calculating NNP?
NNP = GNP (-) Deprivation |
Question 10 |
What is the indicator used to show the living standard of people in a country?
Per Capita Income |
Question 11 |
When there is increase in Per Capita income how does it affect the people?
When there is increase in Per capita income it result in increase of peoples standard of living. |
Question 12 |
What is per capita income?
It is obtained by dividing the national income by that of the population of the nation. |
Question 13 |
How is Per Capita income calculated?
Per Capita Income = Nation Income / Population |
Question 14 |
What is the per capita income of India as per the USA report?
$1670 |
Question 15 |
Country Per Capita Income (in $)
Japan 38,894.47 $
America 52,194.90 $
England 41,602.98 $ |
Question 16 |
How can we calculate National Income?
Product method, income method and expenditure method. |
Question 17 |
What is the main cause for miscalculation in national income?
Black Money |
Question 18 |
What is black money?
Black money is nothing but the unaccountable money. That is earned through illegal activities, illegal business and money through corruption. |
Question 19 |
In rural economy the transaction occurs informally. How is it called as?
Non –monetization |
Question 20 |
How does non-monetization affects our country?
It leads to miscalculation in the national income. |
Question 21 |
What are the activities ignored by National Income?
Domestic work, housekeeping, social service, volunteer activities and unpaid social services. |
Question 22 |
What are primary sectors?
Primary sectors include activities such as agriculture, forestry, fishing, mining and quarrying. |
Question 23 |
What are secondary sectors?
Secondary sectors include activities such as manufacturing industries, electricity, gas, water supply and construction. |
Question 24 |
What are service sector?
Service sector includes activities such as trade, hotel, transport, storage, communication, finance, insurance, real estate and social services. |
Question 25 |
What are the sectorial growth rates of National Income?
Primary Sector – 17.32%
Secondary Sector – 29.02%
Tertiary Sector – 53.66%
|
Question 26 |
What is Laissez-faire policy?
It means non intervention of government. |
Question 27 |
What are roles of government?
Protective function, administrative function, social security function and economic functions. |
Question 28 |
National Income is otherwise called as __________
Read Income | |
Money Income | |
Nominal Income | |
Gross National Product |
Question 29 |
National Income of a country can be calculated by ___________
2 methods | |
3 methods | |
4 methods | |
5 methods |
Question 30 |
Net National Product _________
GNP (-) Depreciation | |
Net domestic product (-) Depreciation | |
Per capita Income (-) Depreciation | |
Gross domestic product (-) Depreciation |
Question 31 |
India’s per capita income is __________
220 dollars | |
950 dollars | |
2930 dollars | |
600 dollars |
Question 32 |
Primary sector consists of __________
Trade | |
Construction | |
Agriculture | |
Telecommunication |
Question 33 |
National Income is a measure of ___________
Total value of money | |
Total value of food gains | |
Total value of Industrial products | |
Total value of goods & services |
Question 34 |
Expenditure method estimates national income from the __________
Output | |
Income side | |
Expenditure side | |
Savings side |
Question 35 |
Income method sums all forms of _________
Expenditure | |
Income | |
Savings | |
Investment |
Question 36 |
Per capita Income is an indicator of _________
Richness of people | |
Poverty of people | |
Living standard of people | |
Literacy of people |
Question 37 |
Primary sector’s contribution to national income in India is __________
15.8% | |
25.8% | |
58.4% | |
12.8% |
Once you are finished, click the button below. Any items you have not completed will be marked incorrect.
There are 37 questions to complete.
