September 2022

Q. Who had made the first attempt at National Income Accounting? Prof. D.R.Gadgill Simon Kuznets J.M.Keynes Gregory King Answer: Gregory King

Q. Why are the intermediate goods not included in the National Income while measuring National Income? To avoid double accounting It decreases income Intermediate goods are not good All of these Answer: To avoid double accounting

Q. Calculation of National Income at Market Prices is known as _________ Money income Real income Non-monetary income None of these Answer: Money income

Q. Which of the following is the method of measuring National Income? Income method Product method Expenditure method All of these Answer: All of these

Q. NNPMP = ________ GNPMP – Depreciation NDPMP + Net factor income from abroad NNPFC + Net indirect taxes All of these Answer: All of these

GNP at MP = ______ GDPMP – Depreciation GDPMP + Depreciation GDPMP ÷ Depreciation GDPMP + Net factor income from abroad Answer: GDPMP – Depreciation

Q. Which Ministry is responsible for calculating GDP in India? Ministry of Finance Ministry of Commerce and Industry Ministry of Central Statistical and Program Implementation Ministry of consumer Affairs Answer: Ministry of Central Statistical and Program Implementation

Q. What base year is used to calculate per capita income in India? 2004-05 2011-12 2001-2002 2014-15 Answer: 2011-12

Q. Which state of India currently has the highest Per Capita Income? Goa Delhi Maharashtra Punjab Answer: Goa Note: Goa has the highest per capita income among 33 Indian states and union territories, followed by northeast state Sikkim. Capital Delhi, Chandigarh, and Haryana complete the top five list. Among the five richest economies of India,

Q. At present, how much is India’s Per Capita Income (based on market prices)? Rs.72350 Rs.93293 Rs.85261 Rs.91,481 Answer: Rs. 91,481 India’s annual per capita income at constant prices remained below the pre-COVID level at Rs 91,481 in 2021-22.