Account and Finance Questions Practice Question and Answer
8 Q: A rising per Capita Income will indicate a better welfare if it is accompanied by –
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651292f156a7b2508cb4d87c- 1Unchanged Income distribution overall.false
- 2Changed Income distribution in favour of rich.false
- 3Changed Income distribution in favour of poor.true
- 4Changed Income distribution in favour of Industrial Labour.false
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Answer : 3. "Changed Income distribution in favour of poor."
Explanation :
A rising per Capita Income will indicate a better welfare if it is accompanied by changed Income distribution in favour of Poor.
Q: Other name of Net National Product at market price?
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651164d99c491b8125b988a8- 1National Incometrue
- 2Gross Domestic Productionfalse
- 3Personal Incomefalse
- 4Per Capital Incomefalse
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Answer : 1. "National Income "
Explanation :
NNPMP = GNPMP – depreciation
Q: If a country produces consumer goods only and nothing else, then-
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6511572f10a18f5082fb1afd- 1Standard of living will be highestfalse
- 2The country have certain amount of goodfalse
- 3The country will soon become poor if external trade will not happentrue
- 4The country will gradually become rich if external trade will not happenfalse
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Answer : 3. "The country will soon become poor if external trade will not happen"
Explanation :
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.
Q: The Income of Indians working abroad is-
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6511585710a18f5082fb1e12- 1Domestic Income of Indiafalse
- 2Income earned from abroadtrue
- 3Net domestic product of Indiafalse
- 4Grave domestic product of India.false
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Answer : 2. "Income earned from abroad"
Explanation :
Expl:- NDPmp + NFIA = NNPmp
GDPmp + NFIA + GNPmp
Q: Forced saving refers to-
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6511558410a18f5082fb144e- 1Compulsory deposits imposed on income tax payersfalse
- 2Provident fund contribution of private sector employeesfalse
- 3Reduction of consumption consequent to a rise in pricetrue
- 4Taxes on individual income and wealthfalse
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Answer : 3. "Reduction of consumption consequent to a rise in price"
Explanation :
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.
Q: Compared to rich the poors saving is–
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6511655ccb11fc5036e3f981- 1A larger part of their incomefalse
- 2An equal part of their incomefalse
- 3A small part of their incometrue
- 4All of their incomesfalse
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Answer : 3. "A small part of their income"
Explanation :
A necessary level of consumption produces differences in income and saving. This implies that the poor household have lower saving rates because they cannot “afford to save” after buying the necessities.
Q: GDP at factor cost equals–
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651293bb56a7b2508cb4db19- 1GDP – Indirect Tax + Subsidytrue
- 2GNP – depreciationfalse
- 3NNP + depreciationfalse
- 4GDP – subsidy + indirect tax.false
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Answer : 1. "GDP – Indirect Tax + Subsidy"
Q: GDP is what percent of Fiscal deficit?
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6511597ccb11fc5036e368e9- 17false
- 24true
- 38false
- 41false
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Answer : 2. "4"
Explanation :
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.