1
The average income of a country is called
Answer: Per capita income
Questions
2
The value of national income adjusted for inflation is called
Answer: Real national income
5
When depreciation is deducted from GNP, the net value is
Answer: Net national product
6
Consider the following statements and identify the right ones.
i. While calculating GNP, income generated by foreigners in a country is taken into consideration
ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account
Answer: ii only
7
What is the net value of GDP after deducting depreciation from GDP?
Answer: Net domestic product
8
Consider the following statements and identify the right ones.
i. While calculating GDP, income generated by foreigners in a country is taken into consideration
ii. While calculating GDP, income generated by nationals of a country outside the country is taken into account
Answer: I only
9
Consider the following statements and identify the right ones.
i. National income is the monetary value of all final goods and services produced.
ii. Depreciation is deducted from gross value to get the net value
Answer: both
10
Which of the following is considered as financial year in India?
Answer: April 1 to March 31
11
Which Indian state gives highest income tax collection to the Government of India?
Answer: Maharashtra
12
Which is not added in the calculation of national income of India?
Answer: Both [B] & [C]
14
If the contribution of the agricultural sector is decreasing in a country's economy, then what conclusion can be drawn?
Answer: The country is growing in the direction of being a developed nation
15
Which sector contributes the most to India's economy?
Answer: Service sector
17
At present, how much is India's Per Capita Income (based on market prices)?
Answer: Rs.103007
18
Which state of India currently has the highest Per Capita Income?
Answer: Maharashtra
19
What base year is used to calculate per capita income in India?
Answer: 2011-12
20
Which Ministry is responsible for calculating GDP in India?
Answer: Ministry of Central Statistical and Program Implementation
