National Income include–
(A) Financial help to earthquake victims
(B) Poket money of a child
(C) Winning of a lottery Prize
(D) Construction of a new House
When new house is given on rent the factor income will increase. Hence, it will be part of National Income. Rests are part of Transfer Payment.
Forced saving refers to-
(A) Compulsory deposits imposed on income tax payers
(B) Provident fund contribution of private sector employees
(C) Reduction of consumption consequent to a rise in price
(D) Taxes on individual income and wealth
According to Nobel Prize winner Frederick Wan, Forced Saving in an economic situation in which consumer spend less than their disposable income, not because they want to save but because the goods they seek are not avoidable or because goods are too expensive.
The Central Statistical Organisation (CSO) provides data under a new revised series in which the base year is taken as–
(A) 1960-61
(B) 1970-71
(C) 2011-12
(D) 1990-91
The CSO provides data under a new revised series in which the base year is taken as 2011–12.
The Expenditure on advertisement and public relation by an enterprise is a part of its-
(A) Consumption of fined capital
(B) Final consumption Expenditure
(C) Intermediate Consumption
(D) Fined Capital
The Advertisement and public relations of selling expenses are part of intermediate consumption.
The Census of Indian agriculture is done by–
(A) Production Method
(B) Income Method
(C) Expenditure Method
(D) Consumption Method
Under the consideration of India economy, census of agriculture, is done by production method.
If a country produces consumer goods only and nothing else, then-
(A) Standard of living will be highest
(B) The country have certain amount of good
(C) The country will soon become poor if external trade will not happen
(D) The country will gradually become rich if external trade will not happen
If any country will produce only consumer good, then gradually the country will become poor as there will be no exchange of other goods and the economy of that country will highly be affected.
GDP is what percent of Fiscal deficit?
(A) 7
(B) 4
(C) 8
(D) 1
Expl:- In budget 2014-15 the percent of G.D.P was 4.1 of fiscal deficit. But in 2015-16 its percent becomes 3.9% of fiscal deficit.
Which of the following represents the saving of the Private Corporate Sector?
(A) Undistributed profits
(B) Excess of income over expenditure
(C) Dividends paid to shareholders
(D) Total profit of a company
For private corporate sector, retained profits adjusted for non operating surplus/deficit is considered as net saving
When increase in income the increase in ratio between income & expenditure changes–
(A) In same ratio
(B) Ratio less than 1
(C) Ratio more than one
(D) None
Expl:- When increase in income the increase in ratio between income & expenditure changes Ratio less than 1
The Income of Indians working abroad is-
(A) Domestic Income of India
(B) Income earned from abroad
(C) Net domestic product of India
(D) Grave domestic product of India.
Expl:- NDPmp + NFIA = NNPmp
GDPmp + NFIA + GNPmp
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