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CA Foundation Exam > CA Foundation Tests > Test: National Income - 1 - CA Foundation MCQ

Test: National Income - 1 - CA Foundation MCQ

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30 Questions MCQ Test - Test: National Income - 1

Test: National Income - 1 for CA Foundation 2024 is part of CA Foundation preparation. The Test: National Income - 1 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: National Income - 1 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: National Income - 1 below.

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Test: National Income - 1 - Question 1

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Real national income means the national income measured in terms of.

A.
Constant prices
B.
Current prices
C.
Wholesale prices
D.
Retail prices

Test: National Income - 1 - Question 2

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The difference between the GDPMP and GNPMP is ________.

A.
Net income
B.
Subsidies
C.
Net factor income from abroad
D.
Depreciation.

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Test: National Income - 1 - Question 3

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The most important problem in Estimating GNP is:

A.
Double counting
B.
Smuggling
C.
Black marketing
D.
Unorganised market

Test: National Income - 1 - Question 4

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GDP_MP=GDP_FC+________:

A.
Depreciation
B.
NIFA
C.
Net indirect Tax
D.
Subsidies

Test: National Income - 1 - Question 5

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Transfer payments refer to payments, which are made:

A.
Without any exchange of goods and services
B.
To workers on transfer from one job to another
C.
As compensation to employees
D.
None

Test: National Income - 1 - Question 6

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Real National Income means national income measured at:

A.
Constant Prices
B.
Current Prices
C.
Wholesale Prices
D.
Retail Prices

Test: National Income - 1 - Question 7

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The most important problem of estimating National Income is.

A.
Unorganised Market
B.
Double Counting
C.
Population rise
D.
Income Inequalities

Test: National Income - 1 - Question 8

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GDP at factor cost is equal to GDP at market price minus ________ plus subsidies.

A.
Direct taxes
B.
Indirect taxes
C.
Foreign loans
D.
Depreciation

Test: National Income - 1 - Question 9

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Net national product at factor cost is also known as:

A.
Net domestic product
B.
Gross National product
C.
National Income
D.
Personal Income

Test: National Income - 1 - Question 10

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GNP = GDP + _____________.

A.
Depreciation
B.
N.F.I.A
C.
N.I.T
D.
None of the above

Test: National Income - 1 - Question 11

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National Income doesn’t include :

A.
Interest on unproductive national debt
B.
Income for government expenditure
C.
The payments by the household to firm for the purchase of goods and services
D.
Undistributed profit

Test: National Income - 1 - Question 12

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GNP at factor cost minus depreciation is equal to ______.

A.
NNP at factor cost
B.
NDP at factor cost
C.
GDP at factor cost
D.
NNP at market price.

Test: National Income - 1 - Question 13

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The difference between value of output and value added is:

A.
Depreciation
B.
Intermediate consumption
C.
Net indirect taxes
D.
NFIA

Test: National Income - 1 - Question 14

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Net Domestic Product (NDP) = Gross Domestic Product (GDP) minus ______.

A.
NFIA
B.
IT
C.
Depreciation
D.
Transfer payment.

Test: National Income - 1 - Question 15

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Transfer payments are.

A.
Payments transferred from Central Government account to state Government account
B.
Payments made to factors of production by the organizer
C.
Payments made for no return service
D.
None of the above

Test: National Income - 1 - Question 16

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Personal disposable income means:

A.
Personal income – personal direct taxes
B.
Personal income – Net Indirect taxes
C.
Personal income + personal direct taxes
D.
Personal income + Net indirect taxes

Test: National Income - 1 - Question 17

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Product method of calculating national income is also known as

A.
Income method
B.
Value added method
C.
Expenditure method
D.
None of the above.

Test: National Income - 1 - Question 18

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As per the Value Added Method of measuring national income identify which of the following item is excluded?

A.
Brokerage and Commission earned by dealers of second hand goods
B.
Sale of second hand machines
C.
Production for Self Consumption
D.
Imputed rent of owner occupied houses.

Test: National Income - 1 - Question 19

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Which of the following represents National Income?

A.
GDP at factor cost
B.
NDP at factor cost
C.
NNP at market price
D.
NNP at factor cost

Test: National Income - 1 - Question 20

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In GNP calculation which of the following should be excluded?

A.
Rental incomes
B.
Interest payments
C.
Dividends
D.
Government transfer payment

Test: National Income - 1 - Question 21

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NNP_FC minus ________ = NDP_FC

A.
NFIA
B.
Net indirect taxes
C.
Depreciation
D.
None.

Test: National Income - 1 - Question 22

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Product method of calculating national income is also known as:

A.
Income method
B.
Value added method
C.
Expenditure method
D.
Distribution method

Test: National Income - 1 - Question 23

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GNP=GDP+__________:

A.
Depreciation
B.
Indirect taxes
C.
NIFA
D.
Subsidies

Test: National Income - 1 - Question 24

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National Income differs from Net National Product at market price by the amount of

A.
Current transfers from the rest of the world
B.
Net indirect taxes
C.
National debt interest
D.
Subsidies

Test: National Income - 1 - Question 25

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National Income estimation in India is done by :

A.
Reserve Bank of India
B.
Planning commission
C.
Central Statistical Organisation
D.
Ministry of Finance

Test: National Income - 1 - Question 26

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National Income differs from Net National Product at market price by the amount of :

A.
Current transfers from rest of the world
B.
Net indirect Taxes
C.
National debt interest
D.
It does not differ

Test: National Income - 1 - Question 27

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GNP is equal to ________ plus Net foreign income from abroad

A.
NNP at factor cost
B.
GDP
C.
NNP at market price
D.
National Income

Test: National Income - 1 - Question 28

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Goods and services for final consumption are:

A.
Produced goods
B.
Consumer goods
C.
Giffen goods
D.
Retail Prices

Test: National Income - 1 - Question 29

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The most important problem is estimating GNP is :

A.
Double Counting
B.
Smuggling
C.
Black marketing
D.
Unorganised market

Test: National Income - 1 - Question 30

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Personal disposable income means:

A.
Personal income – personal direct taxes
B.
Personal income – Net Indirect taxes
C.
Personal income + personal direct taxes
D.
Personal income + Net indirect taxes

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