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Rajasthan SI — GST & National Income MCQs

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

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

Rajasthan SI — Indian Economy — GST & National Income

20 Questions • Instant results & explanations • Hindi & English

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Question 1 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 2 of 20

Which of the following is NOT a challenge associated with GDP calculation?

Question 3 of 20

Which month marks the beginning of the 'Fourth Quarter' (Q4) of the Indian Financial Year?

Question 4 of 20

Which of the following aggregates is mathematically equivalent to 'National Income' + 'Depreciation'?

Question 5 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 6 of 20

The GDP of a country is best described as:

Question 7 of 20

Why is the GDP Deflator considered a more accurate indicator of inflation compared to CPI and WPI, yet is less popular?

Question 8 of 20

Why is the GDP Deflator generally not used as the primary monthly inflation indicator?

Question 9 of 20

Consider the following regarding the GDP of a country: 1. It includes the value of goods produced by foreign companies within the domestic territory. 2. It excludes the value of goods produced by its own citizens working abroad. Which of the above statements is/are correct?

Question 10 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 11 of 20

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

Question 12 of 20

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

Question 13 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 14 of 20

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

Question 15 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 16 of 20

In the calculation of GDP by Expenditure method, what does '(X - M)' represent?

Question 17 of 20

Which of the following is NOT included in the 'Domestic Territory' of India?

Question 18 of 20

Which of the following is an example of a 'Non-tax payment' subtracted to find Personal Disposable Income?

Question 19 of 20

Consider the following statements regarding 'Transfer Payments': 1. They are added to National Income to get Personal Income. 2. They include payments like pensions and scholarships. 3. They are earned through productive activity. Which of the statements given above are correct?

Question 20 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.

More Indian Economy Subtopics

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