Banking Quiz – 40

BANKING QUIZ

1. Growth rate will now be measured by GDP
a) at constant market prices
b) at factor cost at constant prices
c) Both at constant market prices & at factor cost at constant prices
d) None of the above

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Answer a) at constant market prices

2. Earlier growth was measured in terms of growth rate in GDP
a) at constant market prices
b) at factor cost at constant prices
c) Both at constant market prices & at factor cost at constant prices
d) None of the above

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Answer b) at factor cost at constant prices.

3. Final goods are
a) Those goods which are purchased for further processing or for resale
b) Those goods which are purchased for final use and not for resale or further processing
c) Neither final use nor for further processing
d) None of the above

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Answer b) Those goods which are purchased for final use and not for resale or further processing

4. Intermediate goods are
a) Those goods which are purchased for further processing or for resale
b) Those goods which are purchased for final use and not for resale or further not processing
c) Neither final use nor for further processing
d) None of the above

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Answer a) Those goods which are purchased for further processing or for resale

5. Marginal Productivity of labour is zero
a) Industrial Sector
b) Agricultural Sector
c) Services Sector
d) None

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Answer b) Agricultural Sector

6. Recently which of the following sector is provide highest share of GDP in India?
a) Primary sectors
b) Secondary sectors
c) Tertiary sectors
d) None of the above

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Answer c) Tertiary sectors

7. Net National Product (NNP) at factor cost
a) GNP – Depreciation
b) NNP at market prices + Depreciation
c) NNP at market prices – indirect taxes + subsidies
d) NNP at market prices + indirect taxes

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Answer c) NNP at market prices – indirect taxes + subsidies.

8. Gross Value added can be defined as
a) Total Profit = value of output – total cost
b) Net indirect Taxes = indirect taxes – subsidies
c) The value of output – intermediate consumption
d) The value of output – final consumption

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Answer c) The value of output – intermediate consumption.

9. Which of the following are components of domestic factor income?
a) Compensation of employees
b) Operating surplus
c) Mixed income of the self employed
d) All the above

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Answer d) All the above

10. Salaries refers to
a) The payment made in cash or kind to white collar workers who do mental workers
b) Wages are paid to blue collar workers who do physical labour
c) The payment made in cash or kind to white collar workers who do physical labour
d) None of the above

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Answer a) The payment made in cash or kind to white collar workers who do mental workers

11. Income from property includes
a) Land and capital
b) Rent
c) Interest
d) Royalty
e) All the above

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Answer e) All the above

12. Income from entrepreneurship is includes
a) Total revenue earn from sale of output
b) Dividends
c) Undistributed profits
d) Corporate profit tax
e) All the above

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Answer e) All the above

13. Which of the following are examples of transfer payments?
a) Unemployment allowance
b) Old age pensions
c) Sickness benefits
d) Scholarships
e) All the above

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Answer e) All the above

14. Current transfers refers to
a) Such transfer payment which are made out of the current income of the payer and added to the current income of the recipient who spend on consumption
b) These payments made out of saving
c) Compensation paid by government
d) None of the above

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Answer a) Such transfer payment which are made out of the current income of the payer and added to the current income of the recipient who spend on consumption

15. Current transfers by Households
a) Income tax
b) Wealth tax
c) Excise duty
d) All the above

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Answer d) All the Above

16. Which of the following are examples of forced transfer payments?
a) Income tax
b) Sales tax
c) Excise duty
d) Corporation tax
e) All the above

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Answer e) All the above

17. Forced transfer payments are
a) Not compulsory in character
b) compulsory in character
c) Neither compulsory nor not compulsory
d) None of the above

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Answer b) Compulsory in character

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