Banking Quiz – 19

BANKING QUIZ

1. In the case of Indian factory in foreign countries the income from the Indian factory would be counted as
a) US GDP
b) Indian GNP
d) China GDP
d) Indian GDP

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Answer d) Indian GDP

2. A Closed Economy is
a) An Economy does have any sort of economic relation with rest of the world
b) It borrow from foreign countries and lends to foreign countries
c) An Economy does not have any sort of economic relation with rest of the world (a country no export and no import to other country)
d) None

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Answer – c) An Economy does not have any sort of economic relation with rest of the world (a country no export and no import to other country)

3. The GDP and GNP are the same in a
a) Open Economy
b) Closed Economy
c) Both a & b
d) None

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Answer b) Closed Economy

4. An Open Economy is
a) An Economy does have any sort of economic relation with rest of the world (a country exports, imports and other economic activity with other countries)
b) It neither receives gifts from foreigners nor sends gifts to foreigners
c) An Economy does not have any sort of economic relation with rest of the world
d) None

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Answer a) An Economy does have any sort of economic relation with rest of the world (a country exports, imports and other economic activity with other countries)

5. The GDP and GNP are not same in an
a) Open Economy
b) Closed Economy
c) Both a & b
d) None

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Answer a) Open Economy

6. India is a/an
a) Open Economy (India export import and other economic activities with rest of the world)
b) Closed Economy
c) It neither borrows from foreign countries nor lends to the foreign countries
d) None

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Answer a) Open Economy (India export import and other economic activities with rest of the world)

7. Net National Product (NNP) = GDP + Income from Abroad –
a) Per Capita Income
b) Direct Taxes
c) Saving
d) Depreciation

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Answer d) Depreciation

8. Net National Product (NNP) is equal to
a) GNP + Exports
b) GNP + Depreciation
c) GNP – Depreciation
d) GNP / Taxes

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Answer c) GNP – Depreciation

9. Which one of the following price is followed by India’s to calculate national income?
a) Base Year ( Constant Prices)
b) Current Prices
c) Both a and b
d) None

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Answer a) Base Year ( Constant Prices)

10. Rate of economic growth of country is indicates
a) Increasing GNP at current prices
b) Increasing GNP at constant prices
c) Constant GNP at current prices
d) None of the above

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Answer b) Increasing GNP at constant prices

11. National income is
a) Annual budget estimates
b) Government annual revenue
c) Total revenue of public enterprises
d) Sum of total income received from factors of Production (land, labour ,capital and entrepreneur)

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Answer d) Sum of total income received from factors of Production (land, labour ,capital and entrepreneur)

12. National income at current prices is higher than the national product at constant prices during the period of
a) Increasing prices
b) Stable prices
c) Decreasing prices
d) None

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Answer a) Increasing prices

13. Expenditure on the goods produced in the ———- year is include for estimate national income of the current year
a) Previous
b) Coming
c) Current
d) Current & Previous

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Answer c) Current

14. Income tax paid by employee is part of
a) Investment
b) Saving
c) Interest
d) Wages

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Answer d) Wages

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