Banking Quiz – 42

BANKING QUIZ

1. 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)

2. 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

3. 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

4. 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

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

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Answer a) National Income at current prices

6. Double counting means
a) Counting a product more than once
b) Counting a product at the final stage of output
c) Counting a product at the intermediate stage
d) None of the above

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Answer a) Counting a product more than once

7. Net Domestic Product (NDP) at market prices is equal to
a) GNP – Depreciation
b) GNP minus net income from abroad
c) GDP plus net income from abroad
d) GDP minus capital consumption Or Depreciation

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Answer d) GDP minus capital consumption Or Depreciation

8. The difference between GNP and NNP is equal to
a) Direct taxes
b) Indirect taxes
c) Personal taxes
d) Depreciation

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Answer d) Depreciation

9. Real GNP which is also called
a) National Income at current prices
b) National Income at constant prices
c) National Income at new prices
d) None of the above

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Answer b) National Income at constant prices

10. The nature of Indian economy is a mixed economy coined by
a) Adam smith
b) Alfred Marshall
c) Ragnar Frisch
d) J.M. Keynes

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Answer d) J.M. Keynes

11. Mixed Economy refers to ________
a) Coexistence of Small and Larger industries
b) Coexistence of Agriculture and Industry
c) Coexistence of Public and Private Sector
d) Coexistence of Domestic and Foreign Enterprises

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Answer c) Coexistence of Public and Private Sector

12. National income at factor cost plus indirect taxes minus subsidies equals
a) NNP
b) GNP
c) National income at market prices
d) None of the above

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Answer c) National income at market prices

13. A Transfer Income is an
a) Un earned income
b) Income which is produced by any production process
c) Income which is not produced by any production process
d) None of the above

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Answer c) Income which is not produced by any production process

14. In calculating GDP and GNP by the production method
a) Exports are include but imports are not taken into account
b) Imports are include but exports are not taken into account
c) Neither exports nor imports are taken into account
d) Both exports and imports are taken into account

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Answer d) Both exports and imports are taken into account

15. The incomes of foreign banks operating in India are a part of
a) Factors income earned from abroad by India
c) Domestic factor income of India or ( it is include in Indian GDP )
d) It is include in foreign GDP
d) Property income earned from abroad by Indian banks

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Answer c) Domestic factor income of India or ( it is include in Indian GDP )

16. The Central Statistics Office (CSO) has recently revised the Base Year of National Accounts from
a) 2004-05 to 2008-09
b) 2004-05 to 2011-12
c) 2004-05 to 2010-11
d) 2004-05 to 2007-08

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Answer b) 2004-05 to 2011-12

17. 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

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