GST & National Income MCQs for Patwari
Practice 20 free gst & national income multiple choice questions for Patwari exam. Instant answers, explanations in Hindi and English, and topic-wise targeted practice.
Master GST & National Income under Indian Economy for Patwari with our curated MCQ set. Every question is sourced from real Rajasthan exam patterns and updated regularly. Switch between Hindi and English anytime. Use this daily to strengthen weak areas before the exam.
Patwari — Indian Economy — GST & National Income
20 Questions • Instant results & explanations • Hindi & English
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Question 1 of 20
Which of the following is an example of an 'Intermediate Good'?
Question 2 of 20
Which of the following activities is NOT included in GDP calculation?
Question 3 of 20
When is the 'Factor Cost' equal to the 'Market Price'?
Question 4 of 20
Match List-I with List-II regarding GDP calculation methods: List-I (Method) A. Income Method B. Expenditure Method C. Production Method List-II (Formula/Concept) i. Total Sales Value - Intermediate Cost ii. Rent + Wages + Interest + Profit iii. C + I + G + (X - M)
Question 5 of 20
Which of the following items is EXCLUDED while calculating National Income to avoid the error of 'Double Counting'?
Question 6 of 20
Match the formula with the concept: List-I I. $MP$ II. $FC$ III. $Gross$ IV. $National$ List-II 1. Net + Depreciation 2. Domestic + NFIA 3. Factor Cost + Net Indirect Tax 4. Market Price - Net Indirect Tax
Question 7 of 20
Match the following aggregate measures with their correct formulas: List-I (Aggregate) I. Net Domestic Product (NDP) II. Gross National Product (GNP) III. Net National Product (NNP) IV. Market Price (MP) List-II (Formula) 1. GDP + Net Factor Income Abroad 2. GDP - Depreciation 3. Factor Cost + Indirect Tax - Subsidy 4. GNP - Depreciation
Question 8 of 20
Consider the following statement: 'Capital gains are not included in GDP.' Why is this statement correct?
Question 9 of 20
Which of the following best describes 'Nominal GDP'?
Question 10 of 20
Consider the following statements regarding 'Real GDP': 1. It is calculated at constant prices of a Base Year. 2. It reflects the quantitative growth of production. 3. It includes the impact of current inflation. Which of the statements given above is/are correct?
Question 11 of 20
Assertion (A): Old-age pensions are added to Personal Income but not to National Income. Reason (R): Pensions are transfer payments for which no productive service is rendered in the current year.
Question 12 of 20
Which of the following are considered the four main factors of production whose costs constitute the 'Factor Cost'? 1. Land 2. Electricity 3. Labor 4. Capital 5. Entrepreneur 6. Raw Material
Question 13 of 20
The Exclusive Economic Zone (EEZ) of India, which is part of its domestic territory, extends up to how many nautical miles from the coast?
Question 14 of 20
What happens to the value of 'Intermediate Goods' to avoid double counting in National Income?
Question 15 of 20
What is the primary function of the 'Base Year' in the context of GDP?
Question 16 of 20
Which of the following aggregates is mathematically equivalent to 'National Income' + 'Depreciation'?
Question 17 of 20
Which of the following elements are included in the 'Domestic Territory' of a country for GDP calculation? 1. Geographical territory of the country. 2. Exclusive Economic Zone (up to 200 nautical miles). 3. Embassies and military bases located abroad. 4. Ships and aircraft registered in the country. Select the correct answer using the code given below:
Question 18 of 20
Which of the following is an example of a 'Product Tax'?
Question 19 of 20
Which of the following formulas correctly represents the GDP Deflator?
Question 20 of 20