CET 12th Level — GST & National Income MCQs
Practice 20 free gst & national income multiple choice questions for CET 12th Level exam. Instant answers with explanations in Hindi and English.
Master GST & National Income under Indian Economy for CET 12th Level with our curated MCQ set. Every question follows real Rajasthan exam patterns. Switch between Hindi and English anytime.
CET 12th Level — Indian Economy — GST & National Income
20 Questions • Instant results & explanations • Hindi & English
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Question 1 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 2 of 20
Which of the following would be considered a 'Final Good'?
Question 3 of 20
According to the notes, how are 'Non-Resident Indians' (NRIs) defined for economic purposes?
Question 4 of 20
Match the factor of production with its corresponding remuneration (Factor Cost): List-I (Factor) I. Land II. Labour III. Capital IV. Entrepreneur List-II (Remuneration) 1. Interest 2. Profit 3. Rent 4. Wages
Question 5 of 20
Which agency in India is responsible for the calculation of GDP?
Question 6 of 20
If the Market Price (MP) of a good is Rs. 150 and the Factor Cost (FC) is Rs. 120, which of the following scenarios is possible?
Question 7 of 20
Which authority conducts the calculation of GDP quarters in India (implied by the financial year division)?
Question 8 of 20
Which equation represents the calculation of GVA at Market Price ($GVA_{MP}$) from GVA at Basic Price ($GVA_{BP}$)?
Question 9 of 20
In the context of GVA, taxes like 'Land Revenue' and 'Registration Fees' are classified as:
Question 10 of 20
In the context of Personal Income calculation, 'Undistributed Profits' are:
Question 11 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 12 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 13 of 20
Consider the following statements regarding the definition of Gross Domestic Product (GDP): 1. It measures the monetary value of all final goods and services. 2. It considers production within the domestic territory of a country. 3. It includes the value of intermediate goods to ensure comprehensive calculation. 4. It is calculated for a specific time period, usually a financial year. Which of the statements given above are correct?
Question 14 of 20
What is the specific economic term for 'Net National Product at Factor Cost' ($NNP_{FC}$)?
Question 15 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 16 of 20
Which of the following aggregates is mathematically equivalent to 'National Income' + 'Depreciation'?
Question 17 of 20
The National Statistical Office (NSO) functions under which Ministry?
Question 18 of 20
The time period '1st April to 31st June' corresponds to which quarter of the Indian Financial Year?
Question 19 of 20
Which component is added to 'Personal Income' to calculate 'Personal Disposable Income'?
Question 20 of 20
Which of the following items is NOT deducted from Personal Income to arrive at 'Personal Disposable Income' (PDI)?
More Indian Economy Subtopics
Practice other subtopics under Indian Economy to strengthen your CET 12th Level preparation.