PGT (Commerce previous year questions) (HTET) (Part – VI)Total Questions: 10021. Which of the following is not, by definition, equal to National Income?A. National outputB. National expenditureC. National productD. National wealthCorrect Answer: D. National wealth22. Which of the following is a transfer payment?A. Payment made to housewifeB. Pocket allowance to childrenC. Maintenance allowance to old parentsD. All of the aboveCorrect Answer: D. All of the above23. The difference between gross domestic product and net domestic product equals:A. Transfer paymentsB. Depreciation costC. Indirect taxesD. SubsidiesCorrect Answer: B. Depreciation cost24. The best method of computing national income isA. Product MethodB. Income MethodC. Expenditure MethodD. Combination of Income and Production MethodCorrect Answer: D. Combination of Income and Production Method25. Which of the following will directly increase the GNP?A. A rise in the market priceB. A surplus in budgetC. An increase in investmentD. A deficit in budgetCorrect Answer: C. An increase in investment26. "National dividend is that part of objective income of the community, including of course the income derived from abroad which can be measured in money." This is the remark of:A. MarshallB. J.R. HicksC. David RicardoD. A.C. PigouCorrect Answer: D. A.C. Pigou27. While calculating personal income, we have to deduct the following from private income:A. Saving of private corporate sector and corporation taxB. Consumption of fixed capitalC. Direct taxes paid by householdsD. All of the aboveCorrect Answer: A. Saving of private corporate sector and corporation tax28. The National income is equal to:A. GNP - Subsides - TaxesB. NNP - Indirect Taxes + SubsidiesC. NNP- Direct Taxes + SubsidesD. GNP - Subsidies + TaxesCorrect Answer: B. NNP - Indirect Taxes + Subsidies29. "National income as the aggregate net product of, and the sole source of, payment for all the agents of production" has been defined by:A. A.C. PigouB. Alfred MarshallC. RobbinsD. DusenberyCorrect Answer: B. Alfred Marshall30. "The labour and capital of a country acting upon its natural resources produce annually a certain net aggregate of commodities, material and immaterial including services of all kinds." This definition of National Income is given by:A. Adam SmithB. Lionel RobbinsC. John Stuart MillD. Alfred MarshallCorrect Answer: D. Alfred MarshallSubmit Quiz« Previous12345678910Next »
