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CET Graduate — GST & National Income MCQs

Practice 20 free gst & national income multiple choice questions for CET Graduate exam. Instant answers with explanations in Hindi and English.

Master GST & National Income under Indian Economy for CET Graduate with our curated MCQ set. Every question follows real Rajasthan exam patterns. Switch between Hindi and English anytime.

CET Graduate — Indian Economy — GST & National Income

20 Questions • Instant results & explanations • Hindi & English

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Question 1 of 20

In the calculation of National Income, which of the following is synonymous with 'National Income'?

Question 2 of 20

Which of the following items is EXCLUDED while calculating National Income to avoid the error of 'Double Counting'?

Question 3 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 4 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 5 of 20

What is the key difference between 'Production Tax' and 'Product Tax'?

Question 6 of 20

Identify the correct time frame for the 'First Quarter' (Q1) of the Indian financial year.

Question 7 of 20

If Nominal GDP increases by 10% and prices (inflation) increase by 10% in the same year, what is the change in Real GDP?

Question 8 of 20

What happens to the value of 'Intermediate Goods' in the final analysis of GDP?

Question 9 of 20

In the context of Indian National Income Accounting, what is the 'Base Year' used for?

Question 10 of 20

According to the notes, how are 'Non-Resident Indians' (NRIs) defined for economic purposes?

Question 11 of 20

In the calculation of National Income, 'Subsidies' are:

Question 12 of 20

Which of the following is an example of an 'Intermediate Good'?

Question 13 of 20

What distinguishes 'Real GDP' from 'Nominal GDP'?

Question 14 of 20

Identify the tax that is an example of 'Production Tax'.

Question 15 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 16 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 17 of 20

In the context of the Indian economy, the 'Third Quarter' of a financial year comprises which of the following months?

Question 18 of 20

Which authority conducts the calculation of GDP quarters in India (implied by the financial year division)?

Question 19 of 20

Which agency in India is responsible for the calculation of GDP?

Question 20 of 20

In the context of Personal Income calculation, 'Undistributed Profits' are:

More Indian Economy Subtopics

Practice other subtopics under Indian Economy to strengthen your CET Graduate preparation.