Banking Quiz – 20

8. Per capita income is equal to
a) Gross National Expenditure/Size of population
b) Gross National Product/Size of population
c) Domestic Income/Size of population
d) None of the above

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Answer – b) Gross National Product/Size of population

9. An increase in the national income at constant price is called
a) Increase the per capita income in real terms
b) Increase real national income
c) Real increase in per capita income
d) Nominal increase in national income

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Answer – b) Increase real national income

10. National income is
a) A Stock
b) A Flow
c) A fund
d) None of the above

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Answer – b) A Flow

11. In India National income estimates are related with the financial year from
a) January 1 to December 31
b) April 1 to March 31
c) April 1 to June 31
d) None of the above

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Answer – b) April 1 to March 31

12. Disposable Personal Income is equal to
a) Personal Income – Direct Taxes ( income taxes & property taxes)
b) Personal Income + Direct Taxes
c) Per capita Income – Direct Taxes
d) Per Capita Income + Direct Taxes

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Answer – a) Personal Income – Direct Taxes ( income taxes & property taxes)

13. Disposable Personal Income ___________ direct taxes paid by households
a) Sometimes but not always include
b) Rarely include
c) Sometimes but not always include
d) Excludes

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Answer – d) Excludes

14. Gross National Product ( GNP ) is defined as
a) Total money value of agricultural production
b) Total money value of service sector production
c) Total money value of the final goods and services produced in an economy in a year
d) Total money value of industrial production

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Answer – c) Total money value of the final goods and services produced in an economy in a year

15. When the National Income is measured at the base year price it is called
a) National Income at current prices
b) National Income at constant prices
c) National Income at prevailing prices
d) None of the above

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Answer – b) National Income at constant prices

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