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SSC CGL Exam  >  SSC CGL Test  >   Tier 2 - Study Material, Online Tests, Previous Year  >  Test: National Income-1 - SSC CGL MCQ

National Income-1 - Free MCQ Practice Test with solutions, SSC CGL


MCQ Practice Test & Solutions: Test: National Income-1 (10 Questions)

You can prepare effectively for SSC CGL SSC CGL Tier 2 - Study Material, Online Tests, Previous Year with this dedicated MCQ Practice Test (available with solutions) on the important topic of "Test: National Income-1". These 10 questions have been designed by the experts with the latest curriculum of SSC CGL 2026, to help you master the concept.

Test Highlights:

  • - Format: Multiple Choice Questions (MCQ)
  • - Duration: 10 minutes
  • - Number of Questions: 10

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Test: National Income-1 - Question 1
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What is Gross Domestic Product (GDP)?

Detailed Solution: Question 1

Gross Domestic Product (GDP) is the total value of goods and services currently produced within the domestic territory of a country.

Test: National Income-1 - Question 2
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Why should GDP include only the value of final goods and services?

Detailed Solution: Question 2

GDP should include only the value of final goods and services to avoid double counting and ignore transactions involving intermediate goods.

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Test: National Income-1 - Question 3
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What does Gross National Product (GNP) include that GDP does not?

Detailed Solution: Question 3

GNP includes Net factor income from abroad, which GDP does not.

Test: National Income-1 - Question 4
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What is Personal Income?

Detailed Solution: Question 4

Personal Income is the sum of all incomes actually received by all individuals or households during a given year.

Test: National Income-1 - Question 5
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What is Disposable Income?

Detailed Solution: Question 5

Disposable Income is the income left after deducting personal taxes from personal income.

Test: National Income-1 - Question 6
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What does the Income Method focus on in estimating national income?

Detailed Solution: Question 6

The Income Method focuses on estimating national income by summing up the incomes of all individuals in the country.

Test: National Income-1 - Question 7
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How is national income measured using the Output or Production Method?

Detailed Solution: Question 7

National income is measured using the Output or Production Method by dividing the economy into different sectors and finding the net values of production.

Test: National Income-1 - Question 8
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How does the Expenditure Method arrive at national income?

Detailed Solution: Question 8

The Expenditure Method arrives at national income by adding up all the expenditure made on goods and services.

Test: National Income-1 - Question 9
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What is a special difficulty in measuring national income in under-developed countries?

Detailed Solution: Question 9

A special difficulty in measuring national income in under-developed countries is the prevalence of non-monetised transactions.

Test: National Income-1 - Question 10
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What is Net National Product (NNP) at Market Price?

Detailed Solution: Question 10

NNP at Market Price is the market value of all final goods and services after providing for depreciation.

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About this SSC CGL Practice Test

This test contains 10 MCQs on National Income-1 with detailed solutions for each question. It is part of the SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course on EduRev, designed to align with the current SSC CGL syllabus. Each solution explains not just the correct answer but also gives you an understanding of the topic — not just to attempt the question but also help you prepare for the exam with practice.

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