GST & National Income MCQs for RAS
Practice 20 free GST & National Income questions under Indian Economy — Economy.
Strengthen your GST & National Income knowledge for RAS with curated MCQs. Switch between Hindi and English anytime.
RAS — Indian Economy — GST & National Income
20 Questions • Instant results & explanations • Hindi & English
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Question 1 of 20
What distinguishes 'Real GDP' from 'Nominal GDP'?
Question 2 of 20
Under the income method, which of the following is the reward for the factor of production 'Capital'?
Question 3 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 4 of 20
Which problem in GDP calculation involves accounting for the value of a good more than once?
Question 5 of 20
The time period '1st April to 30th June' corresponds to which quarter of the Indian Financial Year?
Question 6 of 20
In the context of Personal Income calculation, 'Undistributed Profits' are:
Question 7 of 20
Which of the following items is EXCLUDED while calculating National Income to avoid the error of 'Double Counting'?
Question 8 of 20
The National Statistical Office (NSO) functions under which Ministry?
Question 9 of 20
Calculate the GDP Growth rate for the year 2024 based on the following Nominal GDP data: Year 2023: Output = 3 quintals, Price = Rs. 100/quintal Year 2024: Output = 2 quintals, Price = Rs. 200/quintal
Question 10 of 20
In the context of the Indian economy, the 'Third Quarter' of a financial year comprises which of the following months?
Question 11 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 12 of 20
What is the current 'Base Year' used for calculating GDP in India?
Question 13 of 20
Which of the following is NOT included in the 'Domestic Territory' of India?
Question 14 of 20
Which of the following is the correct formula to derive 'Personal Disposable Income' (PDI) from 'Personal Income' (PI)?
Question 15 of 20
Which of the following is an example of a 'Non-tax payment' subtracted to find Personal Disposable Income?
Question 16 of 20
What happens to the value of 'Intermediate Goods' to avoid double counting in National Income?
Question 17 of 20
Calculate Per Capita Income if the National Income ($NNP_{FC}$) is Rs. 50,000 Crores and the Population is 50 Crores.
Question 18 of 20
What is the primary reason for calculating Real GDP in addition to Nominal GDP?
Question 19 of 20
If a ship is registered in India but operates between USA and UK, is it considered part of India's Domestic Territory?
Question 20 of 20